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Offer to Purchase and Acceptance: Contract of sales, this is a contract signed both buyer and seller agreeing that they will enter into a transaction.
Offer to Purchase or Purchase Offer: This document specifies the price, terms and conditions a buyer is willing engage in to purchase a property.
Open Listing: This form of listing allows the owner to enlist the help of several representatives to sell the property. The one who finds the buyer is the one who gets the commission.
Orderly Liquidation Value: Value equipment would return at an auction or liquidation sale.
Origination Fee: Fee charged by lenders for processing loan applications.
Owner Financing: This is where the seller themselves will accept payments and a promissory note from the buyer without the use of a third party lender.
Owner-Occupied: When the owner of a property is the occupier of that property.
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