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O & A
- Acronym for offer and acceptance.
OPEN LISTING
- A listing that pays a broker a commission only if that
broker produces the ready, willing and able buyer; not an
exclusive listing.
OPEN-END MORTGAGE
- A mortgage that allows for additional advances of funds up
to a predetermined limit, e.g., a home equity credit line.
OPERATING EXPENSE (OE)
- Any of the costs of operating a building, not debt service
or income tax effects.
OPINION OF TITLE
- The buyer's attorney's judgment of the quality of title
based on the preparation of an abstract or title search.
OPTION
- The exclusive right to purchase a property for a stated
price and terms within a certain period of time.
OWNER-OCCUPANT
- The resident of the property who is also the owner.
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