What does Binder mean?
A temporary agreement that outlines the terms of a real estate transaction, including the purchase price and any contingencies. A binder may be used to hold a property while a more formal contract is prepared.
Related Terms
Investment Related Savings
Underwriting
Active Solar System
Planned-Unit Development
Closing Statement
Cap Rate
Mortgage-Interest Deduction
Acre Foot
Vacancy and Credit Losses
Title
Contingency
Acre
Certificate of Occupancy
Agreed Boundary
Brokerage
Federal Housing Administration ( FHA)
Credit Union
Pre-approval letter