REAL ESTATE TERMS

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There are currently 4 names in this directory beginning with the letter O.
OBSOLESCENCE
A type of depreciation of property.

OFFER
The transaction of business aimed at reaching a meeting of minds among the parties; bargaining.

OPEN HOUSE
The common real estate practice of showing a listed home to the public during established hours.

ORIGINATION FEE
On a government loan the loan origination fee is one percent of the loan amount, but additional points may be charged which are called "discount points." One point equals one percent of the loan amount. On a conventional loan, the loan origination fee refers to the total number of points a borrower pays.