A sum of money to show the seller that your interest in the property is serious.
(deposit in earnest) An amount of money given to the seller along with an offer to purchase a home, usually subject to the home passing an inspection. The deposit is not a mortgage down payment, and the deposit is usually held by a third party until the contract is accepted by the seller.
A deposit that a prospective buyer gives a seller as evidence of his or her good faith intent to complete the transaction. Also called an earnest money deposit.
Used in the context of commodities. Refers to the initial margin account deposit needed when buying or selling a futures contract; approximately 2%-10% of the contract value. Used in the context of securities to describe the deposit required by securities firms engaged in transactions on behalf of a new client. Also used to refer to the deposit with a municipal bond issuer by firms competing for the underwriting business.
a deposit made by a purchaser of real estate to evidence an honesty.
A sum of money given to demonstrate intention to complete the purchase. With regard to mortgages, it is the sum of money given to demonstrate intention to complete the loan, a show of good faith.
A sum of money deposited by a borrower with the lender and returned to the borrower only if the loan is funded or if the loan commitment is terminated for reasons other than the borrower's breach of the loan commitment.
The check which accompanies a syndicate's bid for a new municipal issue.
(1) An amount of money given by members of an underwriting syndicate manager to guarantee their financial performance under the syndicate agreement; (2) An amount of money deposited by a customer upon opening a new account.
A cash deposit required on a competitive bid. Deposits usually range from one to five percent of the value of an issue, and are due at the time of the bid.
A deposit made by a purchaser of property to show they are serious about the purchase.
The amount of funds that accompany a syndicate's bid for a new municipal issue.