A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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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
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
Origination fee	A fee paid to the lender for processing a loan application
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

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips Pricing >If the Price Is Not Right A real estate agent has shown you a house that you like a lot. There is only one problem--the price seems too high. In a situation like this, you can still make an offer that you feel is appropriate. The real estate agent cannot tell you how much to offer, but he or she can give you information about the selling prices of similar homes in the area. The agent will present your offer to the sellers. They have three choices--they can accept, reject, or counter your offer. If the house is a new listing, or if your offer is very low, they may decide to hold out for something better. Sellers frequently build a little negotiating room into their asking price. Prices that are not negotiable at the beginning of a listing period may become flexible as time goes on. If you want to test the sellers' flexibility, make them an offer. See All Tips In The "Pricing" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What Newport, Rhode Island mansion was built as a birthday present and incorporates 500,000 cubic feet of white marble? A  The Vanderbilt Marble House was constructed by railroad baron William K. Vanderbilt for his wife Alva, who later divorced him, remarried and moved into a mansion down the street. See More Real Estate Trivia >

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