Long Definition of "Buyer"
This is a "dig deeper" definition post. For more definitions, click here . This post takes a deeper look at what a Buyer (in terms of Real Estate) is and what their role is in the transaction. First, a dictionary definition: a person who makes a purchase. This is actually an important definition to consider when looking at a potential Real Estate deal. This is also one of those situations where a "Real Estate Word" can mean a lot of different things depending on context! I'll try to go in order here: The first time that the word "Buyer" is used is when a Realtor or Lender first meet with someone that is interested in buying a house. At this stage, that Buyer may be referred to as a "Potential Buyer" a "Possible Buyer" or just "Buyer". For instance, a Realtor might call a Lender and say, "I've got a potential Buyer that wants to know how much money he/she would be able to spend, can you help them get pr