Word | Definition |
O C- On Center | The measurement of spacing for studs, rafters, and joists in a building from the center of one member to the center of the next. |
Oakum | Loose hemp or jute fiber that's impregnated with tar or pitch and used to caulk large seams or for packing plumbing pipe joints |
Offset Statement | A statement obtained from the owner of real property to verify the loan balance, interest rate, interest paid to date and maturity date with respect to the loan being taken over by another purchaser.
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Offset Statement | A statement obtained from the owner of real property to verify the loan balance, interest rate, interest paid to date and maturity date with respect to the loan being taken over by another purchaser.
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OHM'S Law | States that, in a given electrical circuit, the amount at current in amps is equal to the pressure in volts divided by the resistance in ohms. The formula is:
I (Current) = V voltage or V = I x R
R resistance or R = V/I
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Ohmmeter | In electrical contracting, a device to measure the resistance across a load. They are never used on a live circuit. It is used to track down broken wires. |
Online real estate listings | Properties listed for sale on the Internet.
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Online real estate listings | Properties listed for sale on the Internet.
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Open hole inspection | When an engineer (or municipal inspector) inspects the open excavation and examines the earth to determine the type of foundation (caisson, footer, wall on ground, etc.) that should be installed in the hole. |
Open house | A marketing tool in which a listing agent opens a house for view.
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Open listing | A property given to a number of brokers to market at the same time.
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Open space | Undeveloped land or common areas in a planned community reserved for parks, walking paths or other natural uses.
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Open space | Undeveloped land or common areas in a planned community reserved for parks, walking paths or other natural uses.
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Option | A situation in which a buyer puts down money for the right to purchase a piece of real estate within a set time period but does not have an obligation to buy.
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Option | A situation in which a buyer puts down money for the right to purchase a piece of real estate within a set time period but does not have an obligation to buy.
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Oral agreement | Contractual arrangements that are not in writing and are usually not legally binding.
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Oral agreement | Contractual arrangements that are not in writing and are usually not legally binding.
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Ordinance | A legislative enactment of a City or a County.
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Ordinance | A legislative enactment of a City or a County.
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Oriented Strand Board or OSB | A manufactured 4' X 8' wood panel made out of 1"- 2" wood chips and glue. Often used as a substitute for plywood. |
Original principal balance | The amount of principal owed on a loan before a borrower makes any payments.
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Original principal balance | The amount of principal owed on a loan before a borrower makes any payments.
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Origination Fee | Charges to the borrower such as credit reports, appraisal fees, title insurance and other costs of issuing the loan.
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Origination Fee | Charges to the borrower such as credit reports, appraisal fees, title insurance and other costs of issuing the loan.
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Outrigger | An extension of a rafter beyond the wall line. Usually a smaller member nailed to a larger rafter to form a cornice or roof overhang. |
Outside corner | The point at which two walls form an external angle, one you usually can walk around. |
Overhang | A protruding structural feature.
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Overhang | Outward projecting eave-soffit area of a roof; the part of the roof that hangs out or over the outside wall. See also Cornice. |
Owner financing | A transaction in which the seller of a property agrees to finance all or part of the purchase.
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Owner financing | A transaction in which the seller of a property agrees to finance all or part of the purchase.
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Oxidize | To combine with oxygen in the air. |
