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When a buyer signs an offer to purchase a property, the broker receives a monetary amount from the buyer of 5% to 10% of the purchase price. This deposit is commonly referred to as the:
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When a buyer signs an offer to purchase a property, the broker receives a monetary amount from the buyer of 5% to 10% of the purchase price. This deposit is commonly referred to as the:

User Jcjr
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2 votes

Answer: earnest money

Explanation:

Earnest money can be anything the seller will accept - cash, personal check, or property.

Buyers broker collects earnest money before the offer is made.

User Junsu Lee
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