Crafting a Best Approved Vendor List
- Confirm each vendor’s contact, contract, and performance information (if available).
- Confirm that they are still using each vendor.
- Describe the goods or services provided by each vendor.
Who is the Vendee in real estate?
Land contracts, or contracts for deed, are a security agreement between a seller, called a Vendor, and a buyer, called a Vendee: The Vendor agrees to sell a property by financing the purchase for the Vendee. The Vendor retains legal title and the Vendee receives equitable title.
What is the difference between a vendor and vendee?
The meaning of vendee is a buyer of goods and services. A more common term for vendee is a purchaser. While a vendor is a seller, the vendee is a term associated with the person that buys or the person at whom the vendor sells his products or services.
Is the vendor the seller?
In property sales the vendor is the name given to the seller of the property. This does not mean they are the owner or full owner. A person may have a mortgage which means a bank owns most or all of the property but he can still, with their permission, sell it.