Genesis Associates Mortgage Definitions "O" (866) 410.4410

	*Conditions Apply

Definitions of Mortgage Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Objective Value -Direct cost of creating, as distinct from the perceived value in the mind of the buyer or seller.

Offer and Acceptance -Mutual agreement of the parties to a contract in adherence with legal requirements, e.g.,unconditional acceptance.

Offer to Purchase - A written contract outlining the terms under which the buyer agrees to purchase the property. There may be conditions attached to the offer, for example: offer being subject to arranging the mortgage or selling a home.