Land Property Terms with "O"

Glossary of Land Property - Glossario Immobiliare

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Offer: make an offer on the purchase price with the intention of purchasing Part-Possession: The term used when a property is being sold, where a tenant has legal right of occupation.

Offer of a Loan: this is a formal document that approves the mortgage that has been applied for and details the terms and conditions that will apply to such a mortgage.

Ombudsman: this is a third-party professional body who deals with and investigates complaints on behalf of customers. These can include complaints against, for example, estate agents, insurance companies and solicitors.

Open Market Value: this is an opinion of the best price a property would acheive on the open maket, assuming a willing buyer and seller.