New York City Real Estate

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New York Real Estate

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New York Real Estate Glossary O
(On-Site Management - Overburden)

A1 | A2 | A3 | A4 | B1 | B2 | B3 | C1 | C2 | C3 | D1 | D2 | E1 | E2 | F1 | F2 | F3 |
G1 | G2 | H1 | H2 | I1 | I2 | J | K | L1 | L2 | L3 | M1 | M2 | M3 | N | O1 | O2
| P1 | P2 | Q | R1 | R2 | S1 | S2 | T1 | T2 | U | V1 | V2 | W1 | W2 | X | Y | Z

On-Site Management
Managing property directly at its location where it's functions may include showing prospective tenants the facilities, collecting rents, and doing upkeep on the property.

Online Real Estate Listings
Properties listed for sale on the Internet.

Open-End Lease
A lease contract providing for a final additional payment on the return of the property to the lessor, adjusted for any value change.

Open-End Loan
A loan where the borrower may add to the principal without renegotiating the terms of the loan.

Open House
Method of showing a home that is for sale. The house is left open for prospective buyers to see. The house may be advertised in the newspaper and/or outside the house.

Open Housing
Housing where purchase or lease is available to everyone regardless of race, ethnic origin, color or religion and affirmative action is actively pursued.

Open Listing
Property marketed by a number of brokers simultaneously.

Open Mortgage
Mortgage that has matured or is overdue and, therefore, open to foreclosure at any time.

Option to Purchase
Contract that gives one the right, without any obligation, to purchase a property, within a certain period of time and at a certain price, subject to conditions.

Outlet Sewer
Pipe section, in a septic system, which runs between a septic tank and the drainage field.

Outstanding Balance
The amount still unpaid and owed on a debt, loan or other financing agreement.

Overburden
Earth that must be removed to reach a deposit of rock or other material to be quarried.