Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Ma Real Estate O

Terms & Definitions O

TermDefinition
Obedience That part of the law of agency, that requires that an agent follow the principal's direction. (Requirement to violate the law is excluded.)
Offer A promise by 1 party to act in a specified manner providing a second party acts in the manner requested.
Offeree Party receiving an offer from another party (buyer or seller).
Offeror Party extending an offer to another party (buyer or seller).
Open-End Mortgage A loan that is expandable by increments but with a total, that does not exceed original limits. The total secured by 1 mortgage.
Open Listing A type of listing where 2 or more brokers are given a listing. The selling broker receives the total commission. The seller retains the right to sell.
Operating Reserve Reserve fund commonly established, when new condominiums are formed (new or conversion). Typically 2 or 3 month’s condo fee, and used to provide initial operating capital for maintenance and repairs. Often combined with normal operating funds once project is fully sold, and unit owners have taken over management. Not to be confused with capital reserve.
Opinion of Value An estimate of property value by a real estate broker or salesperson, does not require appraisers’ license.
Option An agreement to keep an offer to purchase or to sell open for some period of time. The party agreeing to the option terms (usually the seller) is bound by the option, but not the party making the option offer (usually the buyer).
Option Listing A listing to sell property, where the broker retains the right to purchase the property.
Overimprovement An improvement that based on cost exceeds the highest and best use. EXAMPLE: A $400,000 house built in a $200,000 neighborhood, or a $50,000 kitchen that only increases value of home by $30,000.
Created by: medct
Popular Real Estate sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards