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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 |
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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 |
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Did I Miss the Word YOU Are Looking For? 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. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
| Q |
What is the world's longest wall?
|
| A |
The Great Wall of China, at a length of 2,150 miles, nearly three times the length of Britain. |
See More Real Estate Trivia > |
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Paul Grasemann RE/MAX Gateway 50 Industrial Drive Gilberts, IL 60136 Phone: 847-414-4040 Fax: 847-574-7592 paul@majorPaul.com
Thanks for takin' time to discuss your needs. I am a full-service residential Broker Associate. For a decade I have met clients with a no-nonsense approach to buying and selling homes.
From our first introduction through to the closing table, I will treat you with respect and courtesy. You will benefit from my professionalism and market experience.
If you are considering relocating into or out of McHenry or Kane counties or the collar communities, take time to drop me a line. The RE/MAX Gateway staff and I will share information with you right away, so you can begin getting acquainted with the local market. Contact me with confidence at 847-414-4040!    
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