A bailment of money or goods to be kept gratuitously for the bailor.
Money lodged with a party as earnest or security for the performance of a duty assumed by the person depositing.
Money given to another as security to ensure the performance of a contract. The money is usually intended to be applied toward the puchase price of property, or forfeited on failure to complete the contract. Back to the Top
The difference between the net mortgage advance and the purchase price.
The addition of money to a financial account.
The deposit is the amount of money that you pay towards the car. You then finance the balance.
A percentage of the purchase price provided by the buyer to secure the purchase of real estate.
The act of putting money in a financial institution.
Money that the buyer pays to the seller as a percentage of the property and usually held in trust by the agreed lawyer or real estate company.
the amount paid by a buyer when contracts are exchanged. It is usually ten per cent of the agreed selling price.
The amount payable by the buyer on exchange of contracts to buy a property. The deposit is a part payment and a guarantee that the buyer will complete the purchase. If the buyer unjustifiably refuses to complete, the deposit is forfeited and kept by the seller.
To add money to an account.
Money given in good faith by the buyer with an offer to purchase.
A sum of money (usually 10% of the property value) paid by the buyer on exchange of contracts.
Monies paid upon exchange of contract, the borrowers equity in a property can also be referred to as the deposit.
To give as partial payment or security such as down payment for property purchase. Or to give over or entrust for safekeeping in a bank. A buyer made give a deposit to a broker, for loan or mortgage purposes.
Also called Earnest Money Deposit. A deposit made by the buyer as evidence of good faith in offering to purchase real estate and to secure performance of the contract. Earnest money is typically held by a title company, in an escrow account, during the period between acceptance of the contract and the closing. If the sale goes through, the earnest money is usually applied against the downpayment. If the sale does not go through, the earnest money will be forfeited or lost unless the agreement of sale expressly provides that it is refundable.
A sum of money given to (1) bind a sale of real estate or (2) assure payment or an advance of funds in the processing of a loan. Also called earnest money.
An amount of money placed with a bank for safekeeping, convenience, and/or to earn interest.
A sum of money, usually 10% of the purchase price, put down to secure the article, a Vendor may require a deposit to signify genuiness.
Normally 10% of purchase price, paid by the buyer at the point of change.
Money given in good faith by a buyer as security for purchasing property. Also called “earnest money” or “good faith money”.
This is paid by the buyer and is usually 10% of the purchase price. A buyer may pay a lesser deposit if he/she is borrowing more than 90% of the price. However, a full 10% is at all times payable if the buyer were to withdraw from the transaction.
the money paid over on exchange of contracts. The size of your deposit may determine which lenders will offer you a mortgage.
a sum of money put up as security for the performance of some commitment, as at exchange of contracts for the purchase of a property. an interest earning bank account. colloquially, the cash sum needed from a purchaser of property to make a mortgage advance cover the purchase price.
The deposit is the sum of money paid on exchange of contracts by the Buyer to the Seller. The sum suggested by the Law Society at this stage of the transaction is 10% of the purchase price. If however, the Buyer is borrowing 95% of the purchase then only 5% would be payable.
Placing of goods or things of value under the custody or guard of an accredited person who has the obligation of responding for them when asked. The financial deposit is a sum of money deposited with a Financial Institution of which one is a customer, from a specific time and for a previously known and contracted period. At the end of the contract, the remuneration of the initially agreed yield is obtained.
The amount of money placed in trust as evidence of the intention to purchase.
A sum of cash that is required to be paid to the vendor by the purchaser. This money is a symbol of the purchaser's commitment to buy. If the offer is accepted, the deposit is applied to the down payment. If the offer is later turned down by the buyer, the deposit may or may not be returned.
money given to the buyer (usually in escrow) at the time the Purchase Contract is entered into. (Also referred to a Earnest Money)
An amount of money (also called earnest money) given to bind a sale of real estate.
This is the amount of money which has been elected to pay upfront. The higher the deposit you choose to pay, the cheaper the payments will be.
The money you pay on exchange of contracts as part of your initial contribution to the purchase of your home.
1. Money you put into your credit union account. 2. To put money in your credit union account.
A sum of money (earnest money) given by the borrower to secure or bind a sale of real estate.
In the context of mortgages, the deposit is the initial lump sum payment which the buyer must contribute to the property's total purchase price. Commonly set at around 5% to 10%.
The amount of money deposited with the listing realtor as good faith to carry through with the offer to purchase and is applied toward the down payment.
In relation to a property purchase the deposit refers to the amount of a borrowers own money used to purchase a property.
An agreed amount to be paid on exchange of contracts by the Buyer to his Seller as security for the performance of the Contract by the Buyer
Money paid upon exchange of contracts. Also, the borrower's equity in a property may be referred to as the deposit.
A payment made to prove that a buyer is serious about making a given transaction. An earnest money deposit is money a buyer gives to a seller to purchase to prove that he or she is serious about buying the house. It may also be known as a 'good faith deposit.'
is used in QuickBooksto refer only to money (cash or other medium of exchange) deposited into your bank account. For advanced payments on sales see Prepayment.
It is normal when exchanging Contracts on a purchase that a deposit of 10% of the purchase price is paid. Sometimes a reduced deposit can be agreed with the Seller's solicitors, this is normally the case when the purchaser is borrowing 100% on a mortgage or are dependent on a related sale and their Buyer has no deposit or a reduced deposit to offer. Please note that in the event of the Seller agreeing a reduced deposit and then the purchase falling through then you will be liable to pay the remainder of the 10% deposit under the terms of the Contract.
An amount of money placed in trust or paid to the vendor directly as evidence of intention to buy. In most cases, it is 10% of the purchase price.
A sum paid to the seller by the buyer at the time of exchanging contracts. This sum, usually 10% of the value of the property, guarantees that the sale will go ahead. If, for any reason, the sale falls through the buyer may forfeit the deposit.
The amount of money you put towards the purchase of the property. Most lenders will require at least 10% deposit of the purchasing price. However some lenders will lend 100% or more but only to Status Applications with no credit history.
A sum of money use to bind a contract.
A percentage (usually up to 10%) of the purchase price paid by the Purchaser when the Agreement is signed. (Note - if paid to the real estate agent, the deposit will be held in trust by the agent and released to the Vendor only when the contract becomes unconditional).
When you go to the bank and give the teller some money to put in your account, you have made a deposit.
Money paid by one party to a contract to secure the performance of the contract by the other party. In a house purchase the deposit is the amount of money that is paid to secure the purchase of the house. The deposit is often payable to the real estate agent as the seller's agent. It is important to find out what paying a deposit will commit you to, whether a deposit is refundable and, if so, in what circumstances.
Money that is placed in trust to show good faith, usually delivered by the buyer to demonstrate an intent to purchase.
This is the amount the customer has available to put towards the purchase of the property as a guarantee.
The amount of money which is added to an account, in the form of a check, money order, cash, etc. You usually must fill out a deposit slip when you make a deposit.
This is another term for the equity put into a property by borrowers. The phrase may also refer to the amount paid upon exchange of contracts.
A cash deposit made by a potential buyer to demonstrate that the offer to purchase is serious
1. An amount of money given in partial payment for goods to insure the fulfillment of an agreement; 2. Funds placed by a customer in the care of a bank to keep safe until withdrawn.
Deposit by a potential homebuyer to show he or she is serious about buying a house. Also known as Earnest Money.
the amount of money you pay towards the purchase of a property at the start of the mortgage.
A sum of money that binds the sale of real estate, or a sum of money that ensures payment or an advance of funds in the processing of a loan.
Money given by the buyer with an offer to purchase to show good faith.
The sum of money that is placed in good faith with the seller or his agent to bind a sales contract for the purchase of real estate (also called earnest money).
A deposit of usually 10% is paid by the buyer at the time of exchanging contracts on the purchase of a property
Money requested by a landlord at the beginning of a tenancy as security against non-payment of rent, damage to property or removal of furniture.
The amount that a buyer must pay on exchange of contracts (usually 10% of the agreed property price).
(1) Can be called “earnest money” and is generally an amount of money given by buyer to seller to indicate an intention to purchase or lease. (2) A natural accumulation of resources (oil, gold, etc.) that may be commercially recovered and marketed.
This is the amount of money you pay in cash towards the purchase of a property.
The agreed percentage of the purchase price the buyer pays, in cash, at the time the property transaction closes ("completes").
The sum paid by the buyer on exchange of contracts. Customarily 10% of the purchase price but the amount of the deposit is becoming very much a negotiable item, 5% is often acceptable.
A sum of money held (usually in a special account) as security for the outcome of some event. A holding deposit is held against the tenant's or buyer's default in purchase or taking up a tenancy. A security, rental or damage deposit is held by the landlord or his agent against damage, cleaning or other expenses involved in residential lettings. The deposit may be repaid with or without interest.
Two deposits may be payable by the buyer: 1. A reservation charge. The buyer pays this as a sign of commitment when they initially agree to buy the property. 2. The deposit. A percentage of the price of the property, paid when contracts are exchanged.
A partial payment made at the time of purchase; the balance to be paid later in instalments or a sum to secure an item before paying the balance in full.
The down payment used to purchase a property at the start of the mortgage.
The money a candidate has to pay in order to stand for election. The amount varies depending on the election. It is returnable if the candidate receives more than a specified percentage of votes.
A deposit is usually given from the buyer to the seller as a token of the buyer's assurance and intention to buy the property involved. The deposit is applied against the purchase price of the home once the sale has closed. Len can assist you in proposing a certain and appropriate amount for the deposit.
An amount of money usually paid by the purchaser with the initial contract offer and held by the seller, broker or the title company until settlement. It is often not refundable if the purchaser decides not to buy the property.
The amount of non-refundable money a student must give to a school to hold a place for a future class or programme.
To put money in a bank or other financial institution.
Putting money into a bank account in the form of cash or cheques or as a direct deposit, such as from an employer.
A sum of money paid into CSRS or FERS by an employee (or a survivor) to get credit for a period of Federal civilian service during which retirement deductions were not withheld from pay.
A defined percentage of the purchase price paid by the purchaser which is held in trust as confirmation of intention to buy.
When you put money into an account, you are making a deposit. A deposit simply means putting money into an account of any type, whether you are putting money in to be saved, or putting in money that you owe. A deposit, like a withdrawal and a transfer, is a transaction. Each month, your Credit Union will send you a statement listing your transactions for the month, so you can see how much you've deposited into your account/s.
A sum of money (usually 10% of the purchase price) which is paid by the buyer on formation of the contract to buy as security for the fulfilment of the bargain.
Good faith, earnest money down payment given by the buyer to the seller with an offer to purchase.
This is normally 10 per cent of purchase price which the buyer has to pay at the point of exchange of contracts. If a reduced deposit is agreed and the property transaction does not complete through no fault of the seller, then the buyer will be required to make the deposit up to the full 10%. In addition the buyer may have to pay compensation for any other losses which the seller suffers as a result of the matter not being completed.
is the amount of money the purchaser presents to the vendor with the Offer on the property, generally through a real estate agent, to show serious commitment on the buyer's part. If the vendor accepts the Offer and sells his/her home to the purchaser, the deposit will be applied to the down payment. If the vendor does not accept the Offer, the deposit will be returned to the purchaser.
Money put down by a potential buyer to show that he or she is serious about purchasing the home; it becomes part of the down payment if the offer is accepted, is returned if the offer is rejected, or is forfeited if the buyer pulls out of the deal.
A sum of money paid as a symbol of the purchaser's commitment when making an offer to purchase.
Earnest money given by a buyer with an offer to purchase a property.
A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (seller), the deposit is held in trust by the listing broker, lawyer, or notary until the closing of the sale, at which point it is given to the vendor. If a house does not close because of the purchaser's failure to comply with the terms set out in the offer, the purchaser forgoes the deposit, and it is given to the vendor as compensation for the breaking of the contract (the offer).
An initial cash outlay towards the purchase/rent of a property.
Also called Earnest Money Deposit, the deposit is money given to the seller or his agent by the potential buyer upon the signing of the agreement of sale to show that he is serious about buying the house. If the sale goes through, the earnest money is applied against the down payment. If the sale does not go through, the earnest money deposit will be forfeited to the seller unless the purchase contract expressly provides conditions for its return to the buyer.
A “good faith†payment submitted by a buyer along with a purchase offer; the payment is held in escrow and is returned if the seller doesnâ€(tm)t accept the buyerâ€(tm)s offer. Also called “earnest money.
On exchange of contracts it is usual for a 10% deposit to be paid which is non refundable if the prospective buyer breaches contract and refuses to complete the sale. It is not unusual to exchange contracts with a nil deposit.
Any money in a savings or checking account or in a certificate of deposit (CD).
Payment of money or other valuables in consideration as a pledge for fulfillment of the contract.
Sum of money which the buyer puts down to secure the mortgage loan after exchange of contracts, usually 5 to 10 per cent of the purchase price.
The money you put into a bank account.
The amount of money the buyer must pay when the contracts are exchanged.
The amount of money deposited in the trust account of his agent by a purchaser when an offer to purchase is made.
The amount of money put down by a buyer on exchange of Contracts (usually 5% or 10% of the purchase price) as evidence of his good faith to proceed. This can be forfeited by the seller in certain circumstances if the buyer fails to complete.
The borrowing and lending of cash. The rate that money is borrowed/lent at is known as the deposit rate (or depo rate). Certificates of Deposit (CD`S) are also tradable instruments.
A sum of money given to bind a sale of real estate. Also known as earnest money.
This is normally paid in two parts. A booking deposit to the estate agent which is refundable and a contract deposit, both usually making up a total of 10% of the contract price.
An agreed amount paid when an application is made for an insurance policy.
To add (deposit) money to a bank account.
A deposit is normally paid by the buyer at the time of exchanging contracts; normally 10% of the total purchase price. Any amount paid earlier as an initial or part deposit will usually form part of the 10%.
The amount of money you put towards buying a property.
A sum of money required to be paid with an offer to purchase as a symbol of the purchaser's commitment. If the offer is accepted, the deposit is applied to the down payment. The deposit is payable at the time of the offer or upon all subjects being removed. It is therefore very important that you offer a deposit in the amount that you can cover from your own resources.
A sum of money deposited in trust by the purchaser when making an offer to be held in trust by the seller's agent, broker, lawyer or notary until the closing of the transaction.
depending on your area, a deposit may be referred to as a damage, security, or rent deposit. In any case, it is money given to the landlord at the start of the rental agreement and returned to the tenant at the end of the tenancy provided all the conditions of the lease have been met. A deposit is not allowed to be collected in Quebec.
A sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan.
Funds provided by the buyer with an offer to purchase property. Also referred to as "earnest money".
A sum paid to the seller when exchanging contracts to guarantee that the sale will go ahead. It is usually 10% of the value of the property.
Something of value, usually money, that a potential buyer gives to make a formal offer and induce the seller to withdraw the property from open bidding.
An amount of money placed in trust as evidence of commitment to buy. If the purchase is completed, it will be applied towards the purchase price.
Money placed in trust by the purchaser when an Offer to Purchase is made. The sum is held by the real estate representative or lawyer until the sale is closed, and then paid to the vendor.
Whenever you buy a house, your lender will normally insist that you put a deposit towards the total cost. This is usually at least 10% of the total purchase price. If you are selling a property as well, the equity you have in your house can be used as a deposit.
An amount of money to hold a deal until the paperwork is complete; applied to the down payment.
The portion of the sown payment delivered to the vendor by the purchaser with a written offer as evidence of good faith. Also known as earnest money.
The amount of money the borrower contributes towards the property up front. For example: A £20,000 deposit on a £100,000 property would be a (20,000 / 100,000) x 100 = 20% deposit.
Payment of money or other valuable consideration given by the purchaser as a pledge for good faith to fulfill the contract.
The lump sum paid to the vendor on exchange of contracts. It forms part of the total purchase price.
The amount of money you put towards buying your property.
In relation to property, the deposit is the money paid by the purchaser upon exchange of contracts. This is usually a minimum of 10 % of the purchase price. In the case of a move from one proiperty to another, rather than a ‘cashâ€(tm) deposit, the equity from the first house can be used as the deposit for the second. The rest of the hopuse price is funded by a mortgage.
When agreeing to buy a business a small holding deposit could be sought by the agent, which is reasonable bearing in mind in English law it is usually fully returnable in the event of pulling out of the purchase. However a non-returnable deposit is payable on exchange of contracts. The traditional amount is 10% but lower figures can often be agreed.
The amount of money you put down on a house to hold it.
A sum paid to the seller and held by a third party upon the offer to purchase.
A payment made by a purchaser or tenant, in good faith, to the agent towards securing a property. It can also specifically refer to the 10% of purchase price paid to seal an exchange of contracts for the purchase of a property.
Cash held for the seller when a formal sales contract is signed.
"A sum of money given in advance of a larger amount being expected in the future. Often called in real estate as an ""earnest money deposit."""
Money required in advance of the use of space or prior to provision of services.
A sum of money placed in trust by the purchaser when an Offer to Purchase is made. The real estate representative or lawyer holds the sum until the sale is closed, and then it is paid to the vendor.
1: Securities put into a customer's account at a financial institution (e.g., brokerage firm). 2: Cash, checks, or drafts credited to a customer's account at a financial institution (e.g., bank checking and saving accounts). 3: Money put down as an indication of good faith in contracts and vendors, such as utility and telephone companies, to protect the other party against nonpayment, property damage and contract defaults.
Money given by a buyer when making a formal offer to bind the sale. Also called earnest money. It is also the term used for money placed in a bank or other financial institute.
There are two types of deposits, initial deposits and increased deposits. An initial deposit (often called an earnest money or good faith deposit) is money deposited when an offer to purchase is accepted to show good faith that the buyer wants to purchase the property. Initial deposits commonly range from $1,000 to 3% of the purchase price depending on the degree of confidence the buyer wants to communicate to the seller that the buyer is willing and able to complete the transaction. Increased deposits are also earnest money deposits used to increase the amount of money held in escrow, usually made after the buyer has had an opportunity to conduct inspections of the property.
Money given in advance of a larger amount expected in the near future. In real estate it is often called an "earnest money deposit."
Money paid by the Purchaser to the Vendor or the Purchaser's real estate agent at the time of signing the Contract of Purchase and Sale.
The payment of money or other valuable consideration as pledge for fulfillment of the contract. Exclusive Listing A document giving the sole right to offer a described piece of property for sale, according to the terms of the agency agreement. Foreclosure Court actions taken by a mortgagee, when default occurs on a mortgage, causing forfeiture of the property. Intestate A person who dies without a will or leaves one which is defective in form. Lease A contract between landlord and tenant for the occupation or use of the landlord's property by the tenant for a specified time and for a specified consideration.
Money given in advance to show intention to complete the purchase of a property.
a deposit is normally paid by the buyer at the time of exchanging contracts. Normally a minimum o 5-10% of the total purchase price is required.
1) The money paid up-front by a purchaser as security for her completing the transaction. Also known as "good faith money" or "earnest money". 2) An instrument which is not registered on title but placed in the records for a given piece of land for information purposes.
A percentage of the purchase price given to bind the sale of real estate.
Are normally paid at the exchange of contracts by the buyers to make up the difference between the mortgage amount and the purchase price.
to put money into a bank or investment account.
An amount of money paid by you to make sure you get the goods. You may need to pay a deposit when getting goods on credit.
Money or other considerations of value given as pledge for fulfillment of a contract or agreement.
The deposit is usually 5% of the purchase price.
This can cause confusion. When most people talk about the deposit they mean the part of the purchase price that the buyer is putting down i.e. usually the difference between the amount of the mortgage and the purchase price. When Solicitors talk about the deposit they are talking about the money that is handed over to the seller's Solicitors upon exchange of contracts. This might be the same amount, but it might not. On exchange of contracts the seller can insist on receiving from the buyer a 10% deposit of the purchase price. However as many people are not contributing as much as this to the purchase reduced deposits are often acceptable. You should be aware, however, that if you are a buyer and you pay a reduced deposit and then fail to complete the purchase through no fault of the seller, you will, under the terms of the contract, be required to make the deposit up to the full 10%. You may also have to pay compensation to the seller if the seller loses out through your failure to complete.
A portion of the down payment given by the buyer to the seller or escrow agent with a written offer to purchase. Shows good faith.
A deposit is an amount of money you give to secure your housing placement. After you leave, you will get this amount back as long as everything is in good order.
A deposit is the amount of money put down to secure a property/plot of land and remove it from the market. The amount will vary depending on the property price, although it tends to be 3,000€ for a resale property and 6,000€ for a new property. If you are interested in a property, you have to open a Spanish bank account and lodge this sum. The deposit is paid to the vendor of the property on signing a reservation/holding contract. The deposit will normally be refunded if problems arise which mean that completion cannot take place. All being well, the remainder of the purchase price together with all fees has to paid on completion.
Two deposits may be payable: 1.A booking deposit (this is refundable) the amount paid to secure your property (link to gazumpzing). You normally have 21 days after paying this deposit before signing the contract.
A sum paid to book an accommodation, agreed upon freely. If a real estate agent is the intermediary, it cannot be higher than 25 % of the total cost of the rental, security deposit included. The two parties can cancel the booking; if it is the renter's decision he loses his deposit, if it is the owner's decision he pays back the double of the amount to the renter.
Good faith money offered at the beginning of the negotiation as evidence of the sincerity of the offer. In most cases, this deposit is refundable.
Part of the purchase price which is paid on exchange of contracts to confirm commitment to the purchase Easement A right granted over another's property (such as a right of way)
A contract deposit held as 'stake' money by the buyers solicitor. Normally it is 10% of the sale price of the property, and is not refundable.
Money paid in trust, usually to a lawyer, when an offer to purchase is made.
Money offered by a prospective buyer in entering into a contract to purchase.
A sum of money that is given to secure the sale of a property.
A sum of money placed into an escrow account to bind a buyer to an agreement of sale. The deposit becomes part of the purchase price at closing. In the event the transaction fails to close, the deposit is usually refunded unless the buyer defaults under the terms of the agreement.
Money given as security for the performance of a contract, which is to be forfeited if the depositor fails in the undertaking.
the amount of money paid by the purchaser at the time of making an offer to purchase. It is usually held in trust by the real estate agent or lawyer/notary until the sale closes.
Money deposit is the process of money transfer to the user's balance of payment, using one of embedded payment systems. Money deposit money is usually used for replenishment of user's (advertiser's) balance in order to use those money for advertisement.
To put money into an account.
Cash the buyer pays to the seller when both sign a formal sales contract.
Cash paid to the seller when a formal sales contract is signed.
Advance amount arising from a contract of sale from the buyer to the seller. This payment on account underlines the firmness of the contract of sale. If the buyer decides not to buy, the deposit is lost and if it is the seller who decides not to go through with the sale, he/she must return the deposit, along with the same amount again should this have been agreed.
The act of putting money in the bank; increases your balance.
money paid to a person as security for the performance of a contract or other obligation.
Sums of money given to either bind a sale of real estate or assure payment or an advance of funds in the processing of a loan. Also known as "earnest money".
The amount paid at exchange of contracts, which is only refundable in exceptional circumstances. Contracts provide for 10% of the purchase/sales price but can often be negotiated to a lower level.
A sum of money (in the form of cash) required to be paid with an offer to purchase as a symbol of the purchaser's commitment. If the offer is accepted, the deposit is applied to the down payment. If the offer is later turned down by the buyer, the deposit may or may not be returned.
Money given by the buyer with an offer to purchase property. Also called earnest money.
A sum of money paid by the purchaser on making an offer. Usually held in trust by the real estate broker or the vendor's lawyer or notary until the closing of the sale.
A deposit is normally paid by the buyer at the time of exchanging contracts or on "fall of the hammer" at auction. It is normally 10% of the purchase price.
A sum of money given to the seller, real estate broker or escrow agent with an offer to purchase real estate as evidence of good faith. Also known as earnest money.
A lump sum given in advance as security. A deposit is always paid of a larger amount to be paid in the future. In mortgage and real estate terms, this is called the "earnest money deposit."
Amount of money held by the landlord or agent for security against damage. In Britain approximately the equivalent to six week rental is held.
A sum paid on account, e.g., of a premium to be determined later / A sum deposited by an insurer with the authorities in a country to entitle the insurer to transact business in that country / A sum left by a reinsurer in the hands of a direct insurer as security for payment of claims for which the reinsurer may ultimately become liable.
Money on deposit earns interest at a rate relevant to reserves and long term investment conditions. Usually, the interest earned on deposit is not lost, the deposit growing at a slower or faster rate depending on the interest rate, but not reducing in value.
Usually approx £2,000 and your official confirmation that you intend to proceed with the purchase of that property.
A sum paid to secure the right to purchase a home or property at terms agreed upon by the buyer and seller. The Deposit should be sufficient to satisfy the Seller that the Purchaser would not willingly forfeit the deposit if he or she found another home more to their liking after the Interim Agreement was made but before Closing.
money held in an account at a bank, credit union or trust company
For the purposes of the Consumer Credit Act 1974 'deposit' means any sum is to be/has been paid to the creditor or owner or any other person, or is to be/has been by way of the transfer of goods (e.g part‑exchange).
the money you have available to put towards the purchase. The rest of the cost of the property is raised through a mortgage.
This is paid on exchange of contract and is usually 10% of the purchase value of the house.
A deposit is normally paid by the buyer at the time of exchanging contracts. It is normally between 5-10% of the total purchase price.
Non-refundable percentage (usually ten per cent) of purchase price paid by buyer when contracts are signed and exchanged. Deposit must by held by estate agency or seller's solicitor in a trust account or held jointly in a trust account by seller and buyer.
Money submitted with the loan application showing the intention to enter into a loan contract. See also, Documentation Fee.
Two deposits may be payable: 1. A reservation charge payable by the buyer as a sign of good faith to the seller when they initially agree to buy/sell to each other. 2. The deposit paid towards the total price of the property, payable at exchange of contracts.
A sum of cash that is required to be paid to the vendor by the purchaser to show that the purchaser is committed to buy. If the offer is accepted, the deposit is applied to the down payment.
To put money into a checking or savings account. This could be any combination of cash or checks.
Earnest money offered when sales contract is signed (often deposit into an escrow account after the offer is accepted) DISCOUNT POINTS (see Points)
a percentage of the purchase price, paid by the buyer when the Purchase and Sale agreement is signed and typically held in escrow until the transaction is completed.
the deposit is the lump sum payment made by the borrower that goes towards the total purchase cost of the property. It is usually at least 5% of the total cost of the property, though this can vary considerably from provider to provider.
A sum of money given in advance in order to get large amount in future.
Usually when contracts are exchanged, the contract provides that a deposit of 10%, or sometimes less, is paid by the buyer to the seller. This deposit is paid by the buyer or where there is a chain of transactions it is common to use the deposit received on a related sale for the purchase. The contract will provide that the deposit is forfeited if the buyer defaults on the sale.
Money that is put towards a given transaction, such as a property purchase, to prove the buyer is serious about making the transaction.
A sum of money that a buyer gives to the seller when making an offer on a home. A deposit is normally given to a seller to show that you're serious about buying the property, even though it's not required by law. It's a good idea to put down as little as possible. If you're going through a broker, the deposit will be placed into an escrow account for safekeeping, which also bears interest. If a broker isn't involved in the deal, suggest opening a neutral escrow account. If the deal works out, your deposit is then applied to your total closing costs to purchase the home. If the deal goes sour and you're at fault, you can lose your deposit. The deposit is also called earnest money.
The amount of a merchant's credit card purchases that are credited to its bank account after the acquiring bank buys the merchant's sales slips. The deposit is credited. It is not funded until the acquiring bank gets the monetary value from the issuer during settlement.
1. Money you place in a savings account at a financial institution. 2. Money you give to a seller as proof of your intention to buy a piece of property ; also called "down payment." 3. To put money into your credit union account .
The portion of the down payment delivered to the seller or escrow agent by the purchaser with a written offer as evidence of good faith.
Customarily 50% of the agreed upon amount, lodged by the Purchaser upon contract signature, and held in trust until performance.
Sometimes called "earnest money", this is money offered by a prospective homebuyer to indicate his or her good faith in entering into a sales contract.
A percentage of the full purchase price, normally 10%, which is paid by the purchaser on exchange of contracts to secure the purchase of the property
to put money into a Credit Union or investment account.
The money that is put into an account.
to place money in a bank; an amount of money in a bank; an amount of money paid to reserve an item; an amount of money paid when hiring something (e.g. a car) that is repaid if it is returned in good condition.
A sum of money which is kept by one person as security to be applied towards costs which another person incurs. The person holding the funds is often the person to whom the relevant amount will become owing but it is safer to use an independent third party such as a solicitor.
Refers to the process of borrowing and lending money. The deposit rate is the rate at which money can be borrowed or lent.
Money put into an account. The deposit may be in the form of cash, cheque or electronic transaction.
Money given, along with an offer to purchase property or as security for the performance of some contract. Also called earnest money it is intended to show willingness to follow through with the purchase agreement.
Money, whether in cash or in a cashless form, denominated in the local currency of Ukraine or in foreign currency, or banking metals received from a depositor or to the benefit of a depositor upon agreement for a specified period of custody or without specification of such period (against interest or some other form of income) and subject to payment to the depositor in compliance with the law of Ukraine and the terms and conditions of the agreement.
An amount of money put into a bank account or money that is left with someone or a company to secure the purchase of an item.
A buyer is asked to pay a deposit on exchange of contracts to secure the property for you and is therefore the initial amount they will lose if they fail to comply with the terms of their contract.
A deposit is paid by the purchaser on conclusion of missives and may be a fixed amount or a percentage of the purchase price.
1. A sum of money paid by a buyer as part of the sale price of something in order to reserve it. Depending on the terms agreed, the deposit may or may not be returned if the sale is not completed. 2. A sum of money left with an organisation, such as a bank, for safekeeping or to earn interest or with a broker, dealer, etc., as a security to cover any trading losses incurred.
money the buyer offers when extending an offer to purchase a property in order to show good faith to ensure payment.
A deposit is normally paid by the buyer at the time of exchanging contract, normally up to 10% of the total purchase price.
How much deposit money will be held by the owner? Under what conditions can some or all of the deposit be lost? It's generally a good idea to have the largest possible deposit; however, buyers and sellers should be aware that individual jurisdictions may limit the size of a deposit.
Cash given along with an offer to purchase property
Money paid in good faith to assure the performance of a contract. Often given to bind the sale of real property.
Sum of money which is placed with a deposit taker (a bank for example), usually in exchange for interest on the money deposited.
Earnest money or some other valuable consideration given as evidence of good faith to accompany an offer to purchase or rent