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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 |
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Option listing |
An agreement by which the broker advertising the
property has the right to purchase the listed property himself |
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Origination fee |
A fee paid to the lender for processing a loan
application |
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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 busiest airport in the world?
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| A |
According to the Airports Council International, the Hartsfield International Airport in Atlanta, Georgia is currently the busiest airport in the world, serving 76.87 million passengers per year. |
 See More Real Estate Trivia > |
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Wes Wagner
William E. Wood and Associate Realtors
1030 Loftis Blvd, Ste 200
Newport News, VA 23606
757-508-7141
Fax: 757-596-9811
weswagner@NUMBER1EXPERT.com
Wes Wagner is an Associate Broker and an Award Winning Realtor who is a member of the area's Outstanding Salesmanship Club and has been for the last 25 years, consistently ranking in the top 5% for all residential sales agents in the Virginia Peninsula Association of Realtors®. Wes sold and closed nearly $6 million in real estate business in 2008. Let his knowledge and experience work for you. Take the 1st step and contact him today!
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