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Listing agreement
A contract between a client and agent to sell real property
Contract for sale
Legal written agreement between a buyer and seller that states the purchase price and other terms of understanding by which real property will be transferred
Deposit receipt
Acts as the receipt for earnest money given by the buyer to secure an offer
Buyer representation agreement
The legal agreement between a buyer & a broker hired to represent the buyer's interest
Provision
A particular section or clause in a contract, legislation or law
Forfeiture
Loss of money or anything of value, due to failure to perform
Option
A privilege sold by one party to another that offers the buyer the right, but not the obligation, to buy at an agreed-upon price during a certain period of time or on a specific date
Commission
An agent's compensation for performing the duties of the agency; usually a percentage of the selling price of property
Tender
Offer, formally