Real Estate Glossary
Real Estate Terms

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REAL ESTATE TERMS - O


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Also see:  Commercial Real Estate Terms

Offer to purchase:  Document that lists the price, conditions and terms under which the buyer is willing to purchase the property. (Each of these means the same thing: offer to purchase, or purchase offer, or earnest money agreement, or contract of purchase, or deposit receipt.)

Open Listing: A property given to a number of brokers to market at the same time. Typically, who ever sells the real estate earns the commission.

Operating expense: The actual costs associated with operating a property, including maintenance, repairs, management, utilities, taxes and insurance
Option: The right to purchase a piece of real estate within a set time period without an obligation to buy. If you rent, you may have in your lease an option to buy.
Original Principal Balance:
The amount of principal owed on a loan before a borrower makes any payments. (The amount of the loan.)

Originator: A company that sources and underwrites real estate loans.

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

Also see:  Commercial Real Estate Terms


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