Business / Taxes / Good Faith Deposit: A good faith deposit is a sum of money provided by a buyer to a seller, which demonstrates the buyer’s intention to purchase. For instance, if you’ve decided on a home you want to buy, you generally make a good faith deposit to support your bid. A good faith deposit, also called a binder or earnest money, is usually a fixed amount that’s standard in the community where you’re buying. It's different from a down payment. That’s a larger cash payment, figured as a percentage of the purchase price, which you make when you sign the contract to purchase the property. If you and the seller can’t agree on the terms of the sale, you generally get your good faith deposit back.
Deposit Noun Synonyms: precipitate, sediment, silt, alluvium, dregs, lees, accumulation, deposition
Deposit Adjective Synonyms: place, leave, set or put or lay (down), drop, plunk down
Deposit Verb Synonyms: entrust, leave, lodge, consign, keep, place, put, store, save, set aside, bank, lay or put away, pay in, stash away
Faith Adverb Synonyms: belief, credence, confidence, conviction, trust, certainty, certitude, assurance, assuredness, sureness, reliance, dependence
Faith Noun Synonyms: belief, religion, creed, persuasion, dogma, teaching, doctrine, denomination, sect
Good Adjective Synonyms: agreeable, satisfactory, commendable, acceptable, fair, adequate, admissible, tolerable, all right, passable, okay or OK
Business / Taxes / Good Will: When the term good will is used in connection with evaluating a company, it covers the intangible value of its reputation, its satisfied clients, and its productive work force. Those factors are all c MORE