Month: February 2021
Origination Fee
Origination Fee – David Reecher Fee charged by most lenders, which covers the direct costs of arranging the loan, and also referred to as points, which is one per cent of the total loan amount.... Read More
Ordinary Interest
Ordinary Interest – David Reecher Interest based on a 360-day year instead of a 365-day year. The former is referred to as simple interest and the latter is termed exact interest. The difference bet... Read More
Ordinary Income
Ordinary Income – David Reecher Defined by the Internal Revenue Code to include salaries, fees, commissions, interest, dividends, and many other items. Taxed at regular tax rates, contrasted with lo... Read More
Option to Purchase
Option to Purchase – David Reecher 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.... Read More
Option Listing Agreement
Option Listing Agreement – David Reecher A contract, given for a consideration, where an optionor gives an option to the optionee for the right, but not the obligation, to purchase property within a... Read More