Jim and Mikki Snell is one of The Top Selling Real Estate Experts™
Find Out More > |
|
|
|
|
 |
 |
 |
|
Welcome > Resources > Real Estate Dictionary - A
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
|
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 |
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
Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'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 us know! We always appreciate feedback. Fill out the form below for a quick response from us by email. It's free, without obligation, and we guarantee your privacy. 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...
Real Estate Contracts >Should You Read Every Word
Buying a house involves a lot of paperwork. There can be several pages to the contract itself, plus the various addendum and contingencies. If you apply for a loan, there will be another stack of documents at the closing table. Although your real estate agent reviews the transaction, it is extremely important that you understand the papers you are signing.
If a dispute arises, the outcome will be governed by how the contracts actually read, not what you thought your real estate agent told you when you signed them. To avoid confusion, it is a good idea to pick up copies of the purchase agreements and closing papers ahead of time. This will allow you to read them at your leisure, without the pressure of several people waiting for you to read everything at the closing. Don't hesitate ask questions if you don't understand something or if the language is ambiguous or confusing.
|
|
| Q |
What oceanfront area is currently the most popular choice among people searching for second homes and vacation homes?
|
| A |
According to statistic published early in 2005, the Florida coast is the most sought-after vacation and retirement destination in the United States.
|
 See More Real Estate Trivia > |
|
|
|
 |
|
 |
|
- NUMBER1EXPERT 
