OBSOLESCENCE - A type of depreciation of property.
OFFER - A promise by one party to act or perform in a specified
manner provided the other party will act or perform in the
manner requested.
OFFER AND ACCEPTANCE - The two components of a valid contract; a
"meeting of the minds."
OFFICE EXCLUSIVE - A listing in which the seller refuses to
submit the listing to Multiple Listing Service, even after being
informed of the advantages of MLS, and signs a certification to
that effect.
OFFSITE COSTS - Costs such as for sewers, streets, utilities,
etc., which are incurred in the development of raw land, but are
not connected with the actual construction of the
buildings(onsite costs).
OPEN-END MORTGAGE - A mortgage in which the borrower is given a
limit up to which he may borrow, with any incremental advances
of money up to but not exceeding the original borrowing limit to
be secured by the same mortgage.
OPEN HOUSE - The common real estate practice of showing a listed
home to the public during established hours, frequently on
Sunday afternoons.
OPEN LISTING - A listing given to any number of brokers. The
first broker who secures a buyer ready, willing and able to
purchase at the terms of the listing is the one who earns the
commission.
OPEN SPACE - Certain portion of the landscape which has not been
built upon and which is sought either to be reserved in its
natural state or used for agricultural or recreational
purposes(such as parks, squares, and the like).
OPERATING EXPENSES - Those periodic and necessary expenses which
are essential to the continuous operation and maintenance of a
property.
OPINION OF TITLE - An opinion by a person competent in examining
titles, usually a title attorney, as to the status of the title
of a property.
OPTION - An agreement to keep open, over a set period, an offer
to sell or purchase property.
ORIGINATION FEE - The finance fee charged by a lender for
placing a mortgage, which covers initial costs such as
preparation of documents and credit, inspection and appraisal
fees.
OVERIMPROVEMENT - An improvement which by reason of excess size
or cost is not the highest and best use for the site on which it
is placed.
OVERRIDE - A commission paid to managerial personnel (e.g.
principal broker) on sales made by their subordinates, usually
calculated as a percentage of the gross sales commissions earned
by the salesperson.
OBSOLESCENCE - A type of depreciation of property.
OFFER - A promise by one party to act or perform in a specified
manner provided the other party will act or perform in the
manner requested.
OFFER AND ACCEPTANCE - The two components of a valid contract; a
"meeting of the minds."
OFFICE EXCLUSIVE - A listing in which the seller refuses to
submit the listing to Multiple Listing Service, even after being
informed of the advantages of MLS, and signs a certification to
that effect.
OFFSITE COSTS - Costs such as for sewers, streets, utilities,
etc., which are incurred in the development of raw land, but are
not connected with the actual construction of the
buildings(onsite costs).
OPEN-END MORTGAGE - A mortgage in which the borrower is given a
limit up to which he may borrow, with any incremental advances
of money up to but not exceeding the original borrowing limit to
be secured by the same mortgage.
OPEN HOUSE - The common real estate practice of showing a listed
home to the public during established hours, frequently on
Sunday afternoons.
OPEN LISTING - A listing given to any number of brokers. The
first broker who secures a buyer ready, willing and able to
purchase at the terms of the listing is the one who earns the
commission.
OPEN SPACE - Certain portion of the landscape which has not been
built upon and which is sought either to be reserved in its
natural state or used for agricultural or recreational
purposes(such as parks, squares, and the like).
OPERATING EXPENSES - Those periodic and necessary expenses which
are essential to the continuous operation and maintenance of a
property.
OPINION OF TITLE - An opinion by a person competent in examining
titles, usually a title attorney, as to the status of the title
of a property.
OPTION - An agreement to keep open, over a set period, an offer
to sell or purchase property.
ORIGINATION FEE - The finance fee charged by a lender for
placing a mortgage, which covers initial costs such as
preparation of documents and credit, inspection and appraisal
fees.
OVERIMPROVEMENT - An improvement which by reason of excess size
or cost is not the highest and best use for the site on which it
is placed.
OVERRIDE - A commission paid to managerial personnel (e.g.
principal broker) on sales made by their subordinates, usually
calculated as a percentage of the gross sales commissions earned
by the salesperson.
Buy a Payson Utah Home
