The Real Estate Terms & Real Estate Definitions
Real Estate Glossary

This list of Real Estate Terms was compiled into a Real Estate Glossary for informational purposes only to assist our Buyers and Sellers. The Real Estate Terms and Real Estate Definitions are not an exhaustive Real Estate Glossary. Please consult your Home Marketsite Pennsylvania REALTOR or attorney for further advice.

 The Real Estate Terms & Real Estate Definitions
Real Estate Glossary

O

Office of Comptroller Currency
A federal regulatory agency that oversees some commercial banks.

Office of Thrift Supervision
A federal regulatory agency that oversees savings and loans.

Open End Mortgage
A mortgage permitting additional advances under the same mortgage, upon mutual agreement by the lender and borrower.

Option
A right or privilege to purchase or lease real property at a specified price during a designated period based on a sufficient consideration.

Origination Fee
A fee imposed by a lender to cover certain processing expenses in connection with making a real estate loan. Usually a percentage of the amount loaned.

Over-Improvement
A structure or improvement that is inappropriately too costly versus the market value of its underlying real property.

Owner Financing
A property purchase transaction in which the property seller provides all or part of the financing.

Owner of Record
The owner of property that has a deed indicating his ownership that has been recorded at the local municipality.

The Real Estate Terms & Real Estate Definitions
Real Estate Glossary by:

Home Marketsite - Pennsylvania Real Estate