This is a type of agreement or promise that is dependent on certain conditions being met. In real estate, a conditional commitment might be given by a lender to provide a loan to a borrower, but only if the borrower meets certain requirements such as providing a down payment or fixing any issues with the property.
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What does conditional commitment mean?
Related terms
Commitment
Utilities Availability (In a Lease)
Delinquent Mortgage
Competent
Metes and Bounds
Life-Cycle Cost Analysis
Veterans Administration (VA)
Gross Lease
Blanket Insurance Policy
Urban Sprawl
Setback
Trustee
Tenants In Common
Leasehold Estate
Occupancy Cost
Cancellation agreement
Cashier's Check
Gag Rules
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