Open House

DEFINITION of 'Open House'

A scheduled period of time in which a house or other dwelling is designated to be open for viewing for potential buyers. Open house can also refer to the real estate property itself. In either case, it applies to dwellings that are for sale by the owner. Open houses will often be held to advertise a newly developed community.

BREAKING DOWN 'Open House'

Many open houses are held on weekends, with banners and other fanfare used for advertisement. The houses are cleaned and kept immaculate during this time to attract potential buyers. Some owners will also serve cocktails or hors d'oeurves at these events.

RELATED TERMS
  1. Real Estate

    Land plus anything on it, including buildings and natural resources.
  2. Broker's Open House

    An event designed to showcase one's home for sale to other real ...
  3. Condominium

    A large property complex that is divided into individual units ...
  4. Investment Real Estate

    Real estate that generates income or is otherwise intended for ...
  5. Real Estate Limited Partnership ...

    A limited partnership entity organized to invest in real estate. ...
  6. Property

    1. Anything over which a person or business has legal title. ...
Related Articles
  1. Home & Auto

    Attention Home Buyers! Why You Need A Lawyer

    Property transactions are complex and subject to specific state/local rules. A professional can simplify the process.
  2. Home & Auto

    To Rent Or Buy? The Financial Issues

    Thinking of buying a home? We look at the initial and ongoing costs, as well as the so-called benefits.
  3. Taxes

    Will Your Home Sale Leave You With Tax Shock?

    Learn how the newest tax laws apply to the proceeds you earn.
  4. Home & Auto

    4 Types Of Home Renovation: Which Ones Boost Value?

    You think your updated house looks great, but potential buyers may not feel the same way.
  5. Options & Futures

    The REIT Way

    Ever considered investing in real estate? Read about the REIT and see if it's the investment for you.
  6. Home & Auto

    Do You Need A Real Estate Agent?

    There's no guarantee that realtors will act in your best interest, but it may be worth hiring one anyway.
  7. Taxes

    Avoid Capital Gains Tax On Your Home Sale

    If you have property to sell and want to avoid capital gains tax, a Section 1031 exchange may be the answer.
  8. Entrepreneurship

    Find Fortune In Commercial Real Estate

    Investing in big buildings means big money - and bigger risks.
  9. Home & Auto

    10 Tips for Getting a Fair Price on a Home

    When the housing market booms, it's tougher than ever to get a good price. Make sure the house you choose is worth the price you pay.
  10. Home & Auto

    What are The Best Ways to Save on Moving Costs?

    Because buying a house isn’t cheap, funds might be limited during your move. So, to avoid additional stress, here are seven money saving tips.
RELATED FAQS
  1. Where does the term "always be closing" come from?

    The exact origin of the sales phrase "always be closing" is unknown, but it was newly popularized by its usage in the 1992 ... Read Full Answer >>
  2. What is a fiduciary deed and when is it useful?

    A fiduciary deed is used to transfer property rights in a sale when a fiduciary must act as an executor of the sale on behalf ... Read Full Answer >>
  3. How do real estate agents market themselves?

    Social media is a leading way real estate agents in which market themselves and their properties to potential buyers and ... Read Full Answer >>
  4. How can I tell when a real estate agent might be lying to me?

    Real estate agents are likely to lie or fudge the details about their own credentials, the value and condition of a property ... Read Full Answer >>
  5. Why do real estate agents fail?

    While most successful real estate agents will point to any number of reasons why others fail, the truth is that the reason ... Read Full Answer >>
  6. Where do you get real estate leads?

    Real estate leads come from real world networking in addition to online sources. Tried and tested avenues of following up ... Read Full Answer >>
Hot Definitions
  1. Inverted Yield Curve

    An interest rate environment in which long-term debt instruments have a lower yield than short-term debt instruments of the ...
  2. Socially Responsible Investment - SRI

    An investment that is considered socially responsible because of the nature of the business the company conducts. Common ...
  3. Presidential Election Cycle (Theory)

    A theory developed by Yale Hirsch that states that U.S. stock markets are weakest in the year following the election of a ...
  4. Super Bowl Indicator

    An indicator based on the belief that a Super Bowl win for a team from the old AFL (AFC division) foretells a decline in ...
  5. Flight To Quality

    The action of investors moving their capital away from riskier investments to the safest possible investment vehicles. This ...
Trading Center