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(Disclaimer: Always seek advice regarding
questions for: Legal,
Tax, Accounting, Lending, Surveying, Inspecting, etc. from those other areas of
expertise. They may best answer questions regarding these
matters! Additionally, please allow that
"typos" / errors / changes may occur at this site and / or
other sites, herein referred / linked to... Information is presented only for your convenience. Any corrections
or suggestions are gladly
received! Thanks for visiting our site! Quigley Team, Realty World - John Horton &
Assoc.)
Offer: An expression of willingness to purchase a
property at a specified price
(Top).
Offeree: One who receives the offer. When the buyer makes an offer to the seller the seller is an offeree.
Offeror: One who makes the offer, i.e. the buyer.
Office of Comptroller Currency: The oldest federal financial regulatory body that oversees the nation's federally chartered banks. (see:
http://www.occ.treas.gov/
)
Office of Thrift Supervision: The OTS charters federal thrift institutions and is the primary regulator of all federal and many state-chartered thrift institutions. (
http://www.ustreas.gov/index.html
)
Open House: A method of showing a home for sale to prospective buyers where the home is left open for inspection by those who may be interested in making a purchase.
(Top)
Open End Mortgage: A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions.
Origination Fee: See also
Loan origination fee. (These
are also called "Origination Points.")
(Top)
Optionee: One who receives or purchases an option.
Optionor: The grantor (giver) of, or
seller of, an option.
Oral Contract: A verbal agreement. Verbal agreements for the sale or use of real estate
are normally unenforceable. (Especially in
Texas.) (Top)
Owner of Record: The individual named on a deed that has been recorded at the county recorders office.
Owner Occupant: A tenant of a residence who also owns the property.
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AUSTIN "STATS"