A Dictionary of Terms for the real estate and lending industry. Includes terms specific to real estate contracts in the St. Louis, Missouri area.
Real Estate Terminology for: Chesterfield - Ballwin - Ladue - Clayton - Kirkwood - Webster Groves - Eureka - Fenton - St Charles - City of Saint Louis - RE/MAX Properties West - Agents licensed in MO.
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Down Payment-
Cash to be paid by the buyer at closing to consummate a real estate transaction. Down payment is the difference between the sales price and the mortgage amount.. Buyer cash required at closing includes the down payment, closing costs and prepaid expenses.
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