Jargon Buster

Offer

An amount that a buyer offers to pay for a property.

Offer of a Loan

The formal document approving a mortgage that a buyer has requested which details all terms and conditions that will apply.

OIEO

OIEO = Offers in Excess of the price listed

OIRO

OIRO = Offers in region of

OITRO

OITRO = Offers in the region of

Open Market Valuation

The price that a property will achieve on the open market.