18 June 2010

Glossary - O


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Open house
A marketing tool in which a listing agent opens a house for view.

Open listing
A property given to a number of brokers to market at the same time.

Origination fee
A fee charged by most lenders--also called points--for processing a loan. A point is 1 percent of the total loan amount.

Owner financing
A transaction in which the seller of a property agrees to finance all or part of the purchase.