Parcel – David Reecher A parcel is an officially described piece of land. A parcel is also sometimes referred to as a land lot. A parcel or land lot is legally considered an immovable piece of p... Read More

Oral Agreement

Oral Agreement – David Reecher An oral agreement is a contract that is not in writing. It is typically just a working agreement between two parties on the terms that they want to eventually agre... Read More


Option – David Reecher In real estate, an option is when a purchaser puts money down for land, a home or other real property, but does not have an obligation to purchase said property. Under mos... Read More

Open Listing

Open Listing – David Reecher Property owners have several options for listing their property for sale. They may choose an open listing, which allows any agent to show and sell their property. Th... Read More

Open House

Open House – David Reecher A set period of time that the Realtor opens the house to the public for viewing. Open houses are often publicized in newspapers, signage, and other means to bring in a... Read More

Occupancy Cost

Occupancy Cost – David Reecher Occupancy cost refers to the total cost to a tenant who occupies a space, including the total rent that he or she pays. It might also include any required maintena... Read More