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| 1900 Hwy 64 West |
| Murphy, NC 28906 |
| Direct : My cell#: (828)837-0991 Toll free: 877-837-2288 |
| Fax : (828)837-9080 |
| Email |
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| Real Estate Terms Glossary |
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| Online real estate listings |
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| Properties listed for sale on the Internet. |
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| Open house |
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| A marketing tool in which a listing agent opens a house for view. |
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| Open listing |
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| A property given to a number of brokers to market at the same time. |
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| Open space |
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| Undeveloped land or common areas in a planned community reserved for parks, walking paths or other natural uses. |
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| Option |
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| A situation in which a buyer puts down money for the right to purchase a piece of real estate within a set time period but does not have an obligation to buy. |
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| Oral agreement |
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| Contractual arrangements that are not in writing and are usually not legally binding. |
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| Original principal balance |
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| The amount of principal owed on a loan before a borrower makes any payments. |
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| Origination fee |
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| A fee charged by most lenders--also called points--for processing a loan. A point is 1 percent of the total loan amount. |
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| Overhang |
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| A protruding structural feature. |
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| Owner financing |
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| A transaction in which the seller of a property agrees to finance all or part of the purchase. |
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