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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
Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property.
Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback.
Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
Call Kelly today
at 1-800-567-2279 OR 919-859-8889 for your FREE copy of "What You
Need to Know 6-12 Months Before Selling Your Home!"
Jodi Bakst, Realtor Jodi is a realtor and friend who specializes in Chapel Hill, Durham and Raleigh Real Estate Find Out More >
Kelly Cobb Fonville Morisey, A Long & Foster Company 523 Keisler Drive, Suite 103 Cary, NC. 27518 Office: 919-859-8889 Toll Free: 800-567-2279 Voice Mail: 919-256-2720 Fax: 919-859-3339 Email: kelly@relo-expert.com
Kelly began her real estate career in 1984. A native of Smithfield, North Carolina and a graduate of both Meredith College and Appalachian State University, she is a former teacher and volunteer coordinator. Kelly was featured in the September 2001 issue of REALTOR® Magazine's "Top 100 Residential Salespeople" nationwide. Kelly is the #1 agent with Fonville Morisey (a Long & Foster Company), a prominent local 850 agent firm, and has been #1 agent every year for eight consecutive years! Kelly lists, sells and negotiates for her clients. Her vast experience also enables her to find just the right property for you, and buyers for the home you need to sell.
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