MONEY DOWN Meaning and
Definition
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Money down refers to the initial payment or upfront cash that is required as a part of a purchase transaction or a contract. This term is commonly used in the context of buying goods, services, or real estate. It signifies a financial commitment made by the buyer to demonstrate intent and confirm the agreement.
In purchase transactions, money down is often a percentage of the total price or value of the item being bought. It is typically paid at the time of the transaction or signing of the contract. This initial payment is a way for the buyer to show seriousness and commitment towards the purchase. Money down also helps provide financial security to the seller, as it reduces the risk of non-payment or cancellation of the agreement.
For instance, when purchasing a car, a down payment may be required, which can range from a certain percentage of the car's value to a fixed amount. Similarly, in real estate transactions, money down is often paid as a percentage of the property's price as a deposit to secure the purchase.
The amount of money down can vary depending on the terms of the purchase agreement, the buyer's financial situation, and the specific requirements of the seller. It is important to understand the conditions and terms associated with the money down requirement before entering into any contractual agreement.
Common Misspellings for MONEY DOWN
- noney down
- koney down
- joney down
- miney down
- mkney down
- mlney down
- mpney down
- m0ney down
- m9ney down
- mobey down
- momey down
- mojey down
- mohey down
- monwy down
- monsy down
- mondy down
- monry down
- mon4y down
- mon3y down
- monet down
Idioms with the word MONEY DOWN
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pour money down the drain
The idiom "pour money down the drain" means to waste money, often by spending it on something that has little to no value or benefit. It implies a sense of futile expenditure or squandering resources without receiving any worthwhile return.
