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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
Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'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 me know! I always appreciate feedback.
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Steve Sober, Broker Shenandoah Valley Escapes 505 N. Main St., #104 Woodstock, VA 22664 Please call me direct:: (540) 975-5678 Email: steve@SVEscapes.com web: www.stevesober.com
For Buyers:
Shenandoah Valley Escapes
MRIS ID: 3016750
Broker Code: SHEN1
For Sellers:
ERA Beasley Realty
MRIS ID: 93219
Broker Code: EBR1
Here in the northern Shenandoah Valley of Virginia, amidst the ageless beauty of the Blue Ridge, Massanutten and Allegheny Mountains, people still wave and smile whenever they have an opportunity to express their courtesy.
You'll see that I maintain that smile and work hard to earn them from colleagues, customers and clients. I love to show the area and it is a real pleasure to share my appreciation of the history, beauty and friendliness of the people of the Shenandoah Valley.
If you would like to learn more about real estate in this area, please contact me to see how I might be able to help.
You can find
great local Virginia real
estate information on Localism.com Steve Sober is a proud member of the
ActiveRain Real Estate Network, a free online community to help real estate
professionals grow their business.