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"Comprehensive Glossary of Real Estate Terminology – Letter O"


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Peruse the following real estate terminology and learn to "talk the talk"! Just click on the appropriate letter and start feeding your head now!


A B C D E F G H I J K L M
N O P Q R S T U V W X Y Z


O

Offer: A formal bid from the homebuyer to the home seller to purchase a home.

Open House: When the seller’s real estate agent opens the seller’s house to the public. You don’t need a real estate agent to attend an open house.

Original principal balance: The total amount of principal owed on a mortgage before any payments are made.

Origination fee: A fee paid to a lender for processing a loan application. The origination fee is stated in the form of points. One point is 1 percent of the mortgage amount.

Owner financing: A property purchase transaction in which the property seller provides all or part of the financing.

Owner-Occupied Property: A property that serves as the borrower’s primary residence.




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