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Straight purchase
A transaction in which the buyer gives a new-home builder a deposit to begin building and the balance when the sale of the house closes.
Related Terms
Purchase agreement
Contract to purchase
Private mortgage insurance (PMI)
VA loans
Contingency
Live-in partnership
Allowances
Trading down
Market conditions
Mortgagor
Owner financing
Firm commitment
Installment contract
Letter of intent
Walk-through
Employer-assisted housing
Mortgage
Buyer's remorse
Home inspection
Option
Conventional loan
Deposit
Earnest money
Lease option
Trading up
Purchase-money mortgage
Seller carry-back
Sales contract
Back-to-back escrow
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