WHAT EXACTLY IS A BUYER'S ORDER?

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KNIGHT4S

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Joined
Mar 18, 2006
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HELLO,  THE QUESTION FOR TODAY IS WHAT IS EXACTLY A BUYER'S ORDER......

WE PLACED A 2,000 DEPOSIT ON A 2003 FLEETWOOD TODAY AND WE HAVE THE FIGURES AND I NOTICED MY QUESTION EARLIER ABOUT THE INTEREST RATE WAS WAY OFF.  DOES THIS BUYER'S ORDER MAKE ME THE NEW OWNER, I KNOW THE FINANCING HAS NOT BEEN APPROVED YET?
 

Gary RV_Wizard

Site Team
Joined
Feb 2, 2005
Posts
74,620
Location
At our Silver Springs FL home
A buyers order is  an offer to buy something at the stated price.  Depending on the actual wording, it may also be a commitment by the seller to sell the item at that price.  If so, it's a  contract agreement between buyer and seller.  It doesn't make you the owner of anything because money has not yet changed hands nor has the item been delivered.  You don't become the owner until the transaction is completed and you get a Bill of Sale. 
 

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