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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
Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! We'll send a brief explanation of any word or term that you encounter when buying and selling property.
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As a transplanted Southerner, I have lived and raised five children in the Ann Arbor area for the past 27 years. I know that this is a truly great place to live. My husband Mike (who personally trained our three quarterback sons) and I are deeply rooted in this warm and spirited community, which is a great advantage when it comes to finding your family the right home in the right place at the right price !
I get dozens of referrals every year from former clients, many of whom have become friends, because they value not only my professionalism and knowledge of the market, but my honesty and straightforwardness.
Purchasing a home is one of the bigger things we do in life. I promise you that the process of doing this, as well as the result, will be enjoyable and rewarding for both of us.
In order to serve our clients, we have 6 Buyer Specialists available to give you the best possible service.
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Saline MI real estate, and Ypsilanti real estate, Washtenaw County Michigan
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