Glossary Index | Categories | Tagged Terms

Terms with Tag Realty

Mortgage Assumption -
North Bay Real Estate Board

Percolation Test Date -
Property Value

Nova Scotia Real Estate Association (NSREA) — Company, Nova Scotia, Canada,
➥ See Nova Scotia Association of REALTORS® (NSAR).
Nova Scotia Real Estate Commission (NSREC) — Company Est. 1997, Nova Scotia, Canada,
➥ Founded under the Nova Scotia Real Estate Trading Act.
Oakville, Milton and District Real Estate Board (OMDREB) — Company Est. 1954, Ontario, Canada,
Occupancy Permit (OP) — Acronym,
Oceanfront (Ocnfrnt) — Abbreviation,
Offer — Definition,
- To propose or give something.
Okanagan Mainline Real Estate Board (OMREB) — Company, Ontario, Canada,
Ontario New Home Warranties Plan (ONHWP) — Acronym, Ontario, Canada, Important,
- Warranties for defects in construction as well as for costs of delayed closings and deposit loss in the event a builder declares bankruptcy.
➥ An Ontario Act.
Ontario Real Estate Association (OREA) — Company Est. 1922, Ontario, Canada, Important,
- Assist real estate brokers and industry members through Ontario offering wide variety of publications, educational programs and special services.
➥ OREA provides all real estate licensing courses in Ontario.
Open for Inspection (OFI) — Acronym,
- An open house, usually set a specific times each week, where potential buyers can inspect the property.
➥ A time set for viewing a property.
Open House (OH) — Acronym,
- A selling tool in which a real-estate agent advertises a property for sale and invites people to visit without making an appointment.
Open Listing — Definition,
- A property that a number of brokers can market and sell for a commission.
Open Market Value (OMV) — Acronym,
- Price an asset should achieve when sold on an open or competitive market.
Order of Conditions (OCND) — Acronym,
Original Price (O/P, OP) — Acronym,
Other Real Estate Owned (OREO) — Acronym,
➥ See also Real Estate Owned (REO).
Ottawa Real Estate Board (OREB) — Company Est. 1975, Ottawa, Ontario, Canada,
Ottawa Real Estate Investors Organization (OREIO) — Company Est. 2002, Ottawa, Ontario, Canada,
➥ Non-profit organization supporting Canadian real estate investors in Ottawa and surrounding areas.
Outbuilding(s) (OUTBULD) — Acronym,
➥ As in detached garages, sheds, barns, etc.
Owner Agent (OA) — Acronym,
Owner Financing (OF, O/F, OWN) — Acronym,
- A transaction in which the seller lends all or part of the money to the buyer.
Owner Is a Licensed Real Estate Agent (OLREA) — Acronym,
Owner Occupant — Definition,
- A borrower who resides in the property used as security for the loan.
Owner Phone Number (OPH) — Acronym,
Owner Will Finance (OWF) — Acronym,
Owner-Occupied (OO, owner/occ) — Acronym & Abbreviation,
- Used by mortgage lenders and brokers upon negotiating terms of a mortgage loan. Owner occupied means that the borrower is also the primary resident of the property to be mortgaged.
- The owner lives in the building.
Paper Road (PARD) — Acronym,
Parcel Identification Number (PIN) — Acronym,
Perc Test Approved (PERC) — Acronym,
Percolation Test (PT) — Acronym,
- A test which determines how fast water passes through soil. These tests are performed prior to construction and installation of septic tank systems.
➥ Also known as "Perc Test".