Wikia

Real Estate

Binder

Talk0
273pages on
this wiki

A binder, or an offer to purchase is a preliminary agreement secured by the payment of cash money between a buyer and seller as an offer to purchase real estate. A binder secures the right to purchase real estate upon agreed terms for a limited period of time. The binder does not legally bound the buyer to absolutely purchase the property. If the buyer changes his mind or is unable to purchase, the money is forfeited unless the binder expressly provides that it is to be refunded.



Glossary This article is part of the Real Estate Wiki's glossary. To see the entire glossary, click here.
Quick Glossary: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Advertisement | Your ad here

Around Wikia's network

Random Wiki