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Ordinance
Ordinance
A military weapon or item of destruction (e.g. bullets).
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Opportunity cost
Earnings that may be available on alternative investments.
Option
A right given to purchase or lease a property upon specified terms within a specified time.
Option listing
A listing in which the broker also retains an option to purchase the property for the broker's own account.
Options (in a lease)
Gives the tenant the right to renew the lease and-or take more leased space after expiration of the primary lease term.
Oral agreement
A spoken, unwritten legal agreement, worth the paper it's printed on.
Ordinance
Original basis
The sum of the purchase price of a property plus buying expenses on acquisition.
Original principal balance
The total amount of principal owed on a mortgage before any payments are made.
Origination
The process of preparing, submitting, and evaluating a loan application; generally includes a credit check, verification of employment, and a property appraisal.
Origination fee
The charge for originating a loan; is usually calculated in the form of points and paid at closing.
Originator
A company that sources and underwrites commercial and-or multifamily mortgage loans
This dictionary contains 6433 terms. |
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