Open Listing

An open listing is a property that multiple brokers have the option to market and sell to earn commission on the sale of the home.

Parcel Number

An assessor’s parcel number, or APN, is a number assigned to parcels of real property by the tax assessor of a particular jurisdiction for purposes

Open House

An open house is when a seller opens his home so that potential buyers can view it without an appointment.

Notice of Rescission

A notice of rescission is a form given with the intention of terminating a contract, provided that the contract entered into is a voidable one.

Necessity Easement

An easement which may be implied by law where an owner of land splits his property so that one of the resulting parcels is landlocked

National Housing Act

The National Housing Act was signed on June 27, 1934, by President Franklin D. Roosevelt to improve housing conditions, make housing and mortgages more accessible

MLS

MLS stands for multiple listing service, which is a database that real estate agents use to share their listings with other agents and to search

Master-planned Community

Master-planned community is a large-scale residential neighborhood with a large number of recreational and commercial amenities, such as golf courses, tennis courts, lakes, parks, playgrounds,

Master’s Deed

A deed from a judicial officer given as a result of a foreclosure, a tax sale, or sometimes a divorce,depending on the state and its

Market Conditions

Market conditions are the factors that influence the housing market in a particular area, such as cost of living, demographics, supply and demand, mortgage rates

Homeowner Education