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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 |
|
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 |
|
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 I Miss the Word You Are Looking For?
Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'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 me know! I always appreciate feedback .
| Q |
What site discovered in 1965 is considered the world's oldest known habitation?
|
| A |
The Terra Amata site in Nice, France has the remains of 21 huts belonging to the Acheulian culture from 400,000 years ago. |
 See More Real Estate Trivia > |
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Frances Hills
The Lachicotte Company
10554 Ocean Highway
Pawleys Island, SC 29585
Tel: 843-446-0330
Fax: 843-527-4055
Email: franceshills@NUMBER1EXPERT.com
My entire real estate career is based on one word, INTEGRITY. After that, I use my in-depth knowledge of the area to introduce and show my clients all the properties available that meet their criteria. Once this property is found and due diligence has started, it is my job to guide and advise the client through the maze of challenges to a successful and knowledgeable acquisition of that very special property whether it is a home, condo, lot, or acreage. Each client is different and each acquisition is different and the joy of my job is meshing the two.   
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