by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, an open mortgage is a mortgage loan that allows the borrower to prepay the debt in whole or in part without incurring a prepayment penalty. This feature gives the borrower flexibility to refinance or pay off the loan early. Open mortgages are...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate brokerage, an open listing is a written authorization given by a property owner to a real estate broker agreeing to pay a commission if the broker procures an offer that meets the specified price and terms. The agreement does not grant the broker an...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate marketing, an open house is a property that is made available for inspection by prospective buyers or tenants without the need for an appointment. It is typically held during specified hours on designated days. Open houses are commonly used as a...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate finance, an open end mortgage is a mortgage that allows the mortgagor to borrow additional funds under the same mortgage instrument after the initial loan has been made. The additional advances are secured by the same property, subject to the conditions...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and contract law, offer and acceptance are the essential elements required to form a binding contract for the sale of real property. An offer is a definite proposal made by one party, and acceptance is the unqualified agreement to those terms by the...
by Ethan Atkinson | Feb 6, 2026 | K-O, PropertyPedia
In real estate and contract law, an offer is a presentation or proposal made by one party to another for the purpose of forming a contract. It expresses the offeror’s intent to enter into a binding agreement if the stated terms are accepted. To be legally binding, an...
