Definitions

1. verb

to pay more than the required or necessary amount for something

“If you overpay your rent, you may not be able to get a refund.”

2. noun

an amount paid in excess of what is required or necessary

“The overpay on the contract will be deducted from the next month’s payment.”

3. verb

to pay more than the market value for something

“If you overpay for a house, you may not get the return on investment you expected.”