purchase money

Definition of "purchase money"
  1. Money that is paid, or agreed to be paid, by the buyer for a property
How to use "purchase money" in a sentence
  1. The lender rejected the loan application as the purchase money for the property was too high.
  2. The seller won't deliver the deed until they receive the full purchase money.
  3. She entered into the contract without knowing the full purchase money required for the property.
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