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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 |
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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 |
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Origination fee |
A fee paid to the lender for processing a loan
application |
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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 |
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Did We Miss the Word YOU Are Looking For? Is there a real estate word that we failed to explain here in our dictionary for homebuyers and sellers? Let us be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let us know! We always appreciate feedback. Fill out the form below for a quick response from us by email. It's free, without obligation, and we guarantee your privacy.
| Q |
What oceanfront area is currently the most popular choice among people searching for second homes and vacation homes?
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| A |
According to statistic published early in 2005, the Florida coast is the most sought-after vacation and retirement destination in the United States.
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See More Real Estate Trivia > |
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Micki Patrick, Associate Broker RE/MAX All Stars Serving Botetourt County & The Roanoke Valley 1225 Roanoke Road Daleville, VA 24083 Micki's Phone: 540-556-2525 Fax: 877-806-2525 Dayna Patrick: 540-342-9600 Email: Micki@MickiPatrick.com
Micki Patrick is a top producing Realtor/Broker with 30+ years experience in the Roanoke Valley of Virginia, which includes Botetourt, Bedford, Craig, Franklin, Floyd and Roanoke Counties.
Micki’s daughter, Dayna Patrick, a Realtor since 1990, with five years experience in the custom-home construction field, assists Micki in delivering creative and highly individualized service to our clients throughout the whole home buying and/or selling process.
Micki and Dayna specialize in country property, residential homes, horse farms and unique properties of all types. Their love of the region, chosen after a countrywide search for the ideal place to live, contributes to their enthusiasm in helping families relocate to the Roanoke area.
Whether helping you to buy or sell your special place, Micki and Dayna make a dynamic team and can help you achieve your real estate goals with ease. Share your vision with us, and let us bring our market knowledge, enthusiasm and expertise to work for you. 

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