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Open listing	A contract under which the broker is commissioned to find a buyer before the property is sold by the seller or another competing broker
Option	The agreement to keep an offer to purchase or lease open for a specific period of time
Option listing	An agreement by which the broker advertising the property has the right to purchase the listed property himself
Origination fee	A fee paid to the lender for processing a loan application
Owner financing	A property transaction for which the seller provides all or part of the financing to the buyer
Owner's Title Insurance	A policy insuring the full purchase price of a piece of property for the buyer, usually including adjustments for inflation each year up to a maximum of 150% of the original policy amount, the premium for which is payable at the time of closing

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Real Estate Tips Financing Your Home >Qualifying For A Loan It is useful for home buyers to understand the difference between loan pre-qualification and pre-approval. Pre-qualification, which in today's marketplace is usually done by mortgage brokers, means working with the buyers to determine how much they can afford and which loans are the most likely to be available to them. Loan pre-qualification can save buyers time and money and can even be a bargaining tool with a seller. However, pre-qualification is not the same as loan "pre-approval". The mortgage broker can often get the buyer a pre-qualification letter, but pre-approval must be issued by the mortgage lender. Pre-approval means that the lender has definitely committed to loaning the buyer money, once the house itself is approved. Since it is a much stronger pledge, it is a much more valuable negotiating tool. When you hear someone talking about "pre-approval", they are referring to specific acknowlegment by a lender that they are willing to loan the buyer money. The real estate agent can be of assistance in this process. See All Tips In The "Financing Your Home" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  What are the financial benefits of having a home near a body of water? A  The mere presence of water within 300 feet increases a home's value by 22 percent. See More Real Estate Trivia >

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The DeLois Smith All Star Team, REALTORS® Experience the Power of a Team 4 Willow Bend, Suite 2A Hattiesburg, MS. 39402 1-800-335-6477 Oak Grove Office: 601-545-3900 Oak Grove Fax: 601-264-7300 Petal Office: 601-450-1683 Petal Fax: 601-450-1685 Email: info@deloissmith.com The DeLois Smith All Star Team, REALTORS brings you over 200 years of accumulated experience along with the most innovative marketing strategies in the real estate industry. Put The DeLois Smith All Star Team, REALTORS® to work for you as you consider your next home sale or purchase. Experience the team approach to real estate and make us your REALTOR® for life! See how The DeLois Smith All Star Team, REALTORS® really is bringing Hattiesburg home again and again ™. www.deloishomes.com is brought to you by DeLois Smith All Star Team, real estate for Hattiesburg, Mississippi Read DeLois Smith All Star Team's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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