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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 |
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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 We Miss the Word YOU Are Looking For?
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. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Fill out the form below for a quick response from us by email. It's free, without obligation, and we guarantee your privacy.
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Doug Burger, Owner/Broker
Burger Professionals
"Real Estate Redefined"
2607 Martin Way E., Suite 102
Olympia, WA 98506
Phone: 360-459-4663
Toll Free: 888-811-1608
Fax: 360-459-3513
Email: info@burgerprofessionals.com
Doug has been involved full time in the Thurston County real estate market since 1978. For the last several years he has been ranked #1 in his multiple and was ranked
in the top 100 in the country while part of the RE/MAX system. Doug is owner of Burger Professionals, has the Certified Residential Specialist and Accredited Buyer Representative designations and runs Burger Professionals which specializes in residential real estate.    
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