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glossary - O
Offer
It’s a suggestion by a prospective buyer of a willingness
to purchase a home at a specific price and it’s not
generally put forth in writing.
Owner Financing
A property purchase transaction in which the property seller
provides all or part of the financing. Here the seller lends
all or part of the purchase price to the buyer. The seller
effectively becomes the lender.
Owner's Title Policy
This is a policy defending the buyer for the amount of the
purchase price in the event of a future title disputes.
Offer to Purchase
It’s an agreement between a buyer and seller to acquire
real estate. An offer to purchase and its also known as a
binder or a sales contract that secures the right to purchase
real estate upon approved terms for a restricted period of
time.
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