Real Estate Glossary O

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Open listing

A contract under which the broker is
commissioned to find a buyer before the property is sold by the seller or
another competing broker

Option

The agreement to keep an offer to purchase or
lease open for a specific period of time

Option listing

An agreement by which the broker advertising the
property has the right to purchase the listed property himself

Origination fee

A fee paid to the lender for processing a loan
application

Owner financing

A property transaction for which the seller
provides all or part of the financing to the buyer

Owner’s Title Insurance

A policy insuring the full purchase price of a
piece of property for the buyer, usually including adjustments for inflation
each year up to a maximum of 150% of the original policy amount, the premium
for which is payable at the time of closing

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Open listing	A contract under which the broker is commissioned to find a buyer before the property is sold by the seller or another competing broker
Option	The agreement to keep an offer to purchase or lease open for a specific period of time
Option listing	An agreement by which the broker advertising the property has the right to purchase the listed property himself
Origination fee	A fee paid to the lender for processing a loan application
Owner financing	A property transaction for which the seller provides all or part of the financing to the buyer
Owner’s Title Insurance	A policy insuring the full purchase price of a piece of property for the buyer, usually including adjustments for inflation each year up to a maximum of 150% of the original policy amount, the premium for which is payable at the time of closing

Real Estate Glossary O

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Do
any of these definitions raise questions for you? Didn’t find the word
you’re looking for? Let us know! We’re happy to answer ANY questions.
It’s our job! There’s no obligation, and we promise to get back to you
quickly…