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Real Estate Definitions

These are definitions related to real estate. The definitions can be very helpful in understanding much of the confusion that comes over people when they are trying to understand what a realtor or a loan officer might be saying. If you have any other words you may need defined, do not hesitate to call me at 608-219-8014.

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


Keller Williams real estate agency serving Madison and the southern Wisconsin area

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Nataliya Flannery
My Cell Phone: (608) 219-8014
My Fax Number: (608) 831-0825
My Email: natflannery@kw.com
Alternate Website: Nataliya Flannery
- Madison Real Estate

Keller Williams-West Madison:
3 Point Place
Madison, WI 53719
Last Updated: March 23, 2007 All information copyright madison-real-estate.net 2005, Webmaster
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