Acceptance

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • taking
  • acknowledgement
  • agreement
  • approval
  • go-ahead

Definition of Acceptance

  1. An agreement to meet a bill of exchange, effected by signing it.
  2. In real estate terms, acceptance refers to the formal written approval when a property seller accepts the offer made by the buyer for purchasing the property.

Related Terms and Acronyms

  • Offer Definition,
    • To propose or give something.
  • Renewal Bank,
    • Signing on again with the same lender once a term is up.
  • Purchase Agreement Bank,
    • A written promise to pay a specific amount for a property at a specified time. The purchase agreement is a written statement of the offer, which both the borrower and the seller will sign if the offer is accepted.
  • Contract Definition,
    • An agreement between two or more parties that can be enforced by law.
  • Letter of Intent Definition,
    • A formal notification that a buyer intends to buy property. It is not legally enforceable.
  • Modification Bank,
    • A change in terms of the loan agreement.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage