Offer Price:
Price offered to the seller at the start of a negotiation.

Offer to Purchase:
A preliminary agreement, frequently secured by the payment of earnest money, between a buyer and seller that serves as an offer to purchase real estate. The agreement secures the right to purchase real estate upon agreed terms for a specific period. The earnest money is usually forfeited if the buyer's situation changes or is unable to purchase, unless the agreement specifically provides that the money is to be refunded. Also known as a Binder.

Origination Fee:
Percentage (usually 1%) of the buyer's loan paid by the buyer in cash at closing.

Definitions are intended to be informational only. Please be advised that real estate practices vary from state to state and market to market. The information contained herein does not constitute legal advice. It is recommended that you consult with a qualified real estate attorney who can advise you specifically with respect to the requirements in your market.