131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023
The Close
DECEMBER 29, 2022
Earnest money deposit. Also known as a “good faith deposit,” it’s the amount of money a buyer puts in escrow to show their commitment to purchase a property. In real estate, the principal could also refer to a party (the buyer or seller) who has authorized an agent to act on his or her behalf.
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