Las Vegas real estate home page
offer and acceptance
|
A purchase agreement in which the buyer offers the price and
conditions for a property and the seller accepts, rejects or
counter offers. |
open listing
|
A listing contract in which a seller hires more than one firm
or person to sell a home, and only the one who produces the buyer
is entitled to the commission. |
original principle 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. |
originator
|
A company that sources and underwrites mortgage loans. |
owner financing
|
A property purchase transaction in which the property seller
provides all or part of the financing. |
owner's title policy
|
A policy of title insurance insuring an owner of real estate
against loss occasioned by defects in, liens against, or
unmarketability of the owner's title. |
