"Comprehensive Glossary of Real Estate Terminology – Letter O"
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
A formal bid from the homebuyer to the home seller to purchase a home.
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.
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.
A property purchase transaction in which the property seller provides all or part of the financing.
A property that serves as the borrower’s primary residence.
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