O-ring
A small rubber
ring that provides a water seal in faucets and other plumbing
fittings.obsolescence
Loss in
value because a home's design and construction have become obsolete.
online real estate listings
Properties listed for sale on the Internet.open house
A
marketing tool in which a listing agent opens a house to the public for
viewing.
open listing
A
property given to a number of brokers to market at the same
time.open space
Undeveloped land or common areas in a planned community reserved
for parks, walking paths, or other natural uses.
option
A situation in
which a buyer puts down money for the right to purchase a piece of real estate
within a set time period but does not have an obligation to
buy.option listing
A
listing agreement with a clause that gives the listing broker the right to
purchase the property.
oral agreement
Contractual arrangements that are not in writing and are usually
not legally binding.orange peel
A type of
wallboard finish with a texture like that of an orange peel.
oriented-strand board
Often abbreviated "OSB," this is a relatively inexpensive
manufactured wood panel that, like plywood, is sold typically in a 4-by-8-foot
size and used for roof and wall sheathing. |
