Offer: A price offered to a seller
which is the amount of money that a buyer is willing
to pay.
Office of Comptroller: Currency The
oldest federal body that regulates the nation's freely
chartered banks.
Office of Thrift Supervision: Office
that charters federal thrift institutions and is the
primary regulator of said institutions.
Open House: A method used to attract
people to buying the house by allowing them to walk
through the house freely.
Open End Mortgage: A mortgage where
the borrower may withdrawal addition funds under the
same mortgage.
Oral Contract: A verbal agreement.
Verbal agreements are typically un enforceable.
Owner of Record: The person named
on a deed which has been recorded.
Owner Occupant: A tenant of a residence
who also owns the property
