• The amount someone is willing to pay for something.
  • In real estate, it is the amount of money a buyer proposes to the seller in hopes of getting the property at a reduced price.

request, proposal, feeler, suggestion, proposition, tender, price

Alternate Spellings

Related Terms and Acronyms

  • Acceptance Definition,
    • A property seller's formal, written approval of a buyer's offer.
  • Exchange Definition,
    • A trade of property for other property or services. Like-kind property exchanges are a popular tax-deferral strategy.
  • Letter of Intent Definition,
    • A formal notification that a buyer intends to buy property. It is not legally enforceable.
  • Purchase Agreement Definition,
    • 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.
  • Rebate Definition,
    • A manufacturer's reduction on the price of a car as an incentive to buyers. Rebates appeal to people with no credit or less-than-perfect credit who cannot qualify for the lowest-rate loan. A rebate may also appeal to first-time buyers who don't have a lot of cash for a down payment or another car to trade in.
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