OILSR
Objective value
Obligatory advances
Obligee
Obligor
Obsolescence
Occupancy
Occupancy level
Occupancy permit
Occupancy rate
Offer
Offer to purchase
Offeree
Offeror
Office building
Office of Interstate Land Sales Registration, OILSR
Office of Thrift Supervision, OTS
Office park
Offset statement
Oil and gas lease
Oligopoly
One-hundred percent location
Open Housing Law
Open house
Open listing
Open space
Open-end loan
Operating expense ratio
Operating expenses
Operating profit
Operating statement
Opinion of title
Opportunity cost
Option
Option listing
Option to purchase
Optionee
Optionor
Or more clause
Oral contract
Ordinance
Ordinary income
Ordinary loss
Orientation
Original contractor
Original cost
Original equity
Origination Fee
Ostensible agency
Ostensible authority
Other People's Money, OPM
Outlawed
Outstanding balance
Overage
Overall Rate of Return, OAR
Overall capitalization rate
Overall interest rate
Overbuilding
Overhang
Overimprovement
Owner
Owner financing
Owner occupant
Owner of record
Owner's equity
Owner's policy
Ownership
Ownership form
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You chose: Option to purchase
A contract giving one party the right but not the obligation to buy the property of another party within a certain time, for a stated amount, and subject to specific conditions.
Example: Marco needs two adjacent parcels of land for a project he wishes to build. He can obtain an option to purchase one of them; if he is able to buy the other, he can use his option to buy the first one. If he cannot buy the other, he can let the option expire.
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