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.

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