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- Online real estate listings Properties
listed for sale on the Internet.
- Open house A marketing tool in
which a listing agent opens a house for
view.
- Open listing A property given
to a number of brokers to market at the same
time.
- Open space Undeveloped land or
common areas in a planned community reserved
for parks, walking paths or other natural
uses.
- Option A situation in which a
buyer puts down money for the right to
purchase a piece of real estate within a set
time period but does not have an obligation
to buy.
- Oral agreement Contractual
arrangements that are not in writing and are
usually not legally binding.
- Original principal balance The
amount of principal owed on a loan before a
borrower makes any payments.
- Origination fee A fee charged
by most lenders--also called points--for
processing a loan. A point is 1 percent of
the total loan amount.
- Overhang A protruding
structural feature.
- Owner financing A transaction
in which the seller of a property agrees to
finance all or part of the purchase.
Answer's to your questions or
concerns,
Call 248 684-9000 or
E-Mail us for further assistance
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1999-Present ©
Michigan Real Estate Today™
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