Second, the property owner is the one with deeper pockets.

Unfortunately, outside of rural/exurban areas, the majority of our older housing stock is quite large masonry city rowhouses that are really only workable as multi-unit condo conversions due to the heated up market.

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I just had a call at my workplace and after a long conversation with this sweet lady she told me she has 3 properties and there's 1 that she need to sell ASAP.

Following this conversation.

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After 45 minutes of conversation about other topics, I asked, "Who do you know...that would be interested?

I suppose the term may be slang for the sake of conversation where they are saying, you can put your contract with them and they will wait for the third party (end buyer) to be produced before preparing documents but I would not personally refer to that as an "Open" deed, since the only party to be added would be the party who steps in as Buyer or Asignee.