Not all products and services are available in all states. OBO Or Best Offer WDSTV Wood Burn Stove Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Press F to Pay Respects: What Does F Mean Online? Cloudflare Ray ID: 7a2835264c3fdd54 It is for information purposes only, and any links provided are for the users convenience. 4B/2B:Four bedrooms and two bathrooms. MAR Marble GRNO Ground Maintenance Suggest. EIK Eat in kitchen REALTOR:Areal estate broker or sales associate who is a member of the National Association of REALTORS. If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. HBR Harbor Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). This list of real estate investing abbreviations is useful for real estate brokers. NONQ Non-Qualifying Before you start calling someone BB, you might need to establish ground rules. Exr Exercise Room Cent h/a Central Heat&Air A full bathroom is a room with a toilet, a sink and a bathtub. A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. Learn more about pre-approval here. WAR Warranty Plan Learn more about HOAs here. DOS Due On Sale Clause American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. NAR National Association of Realtors CH Central heat Learn more here. EMC Earnest money contract Anne Miller lives in New York and writes real estate news and advice stories. Questions And Answers SEC SYS Security System For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. All abbreviations on this list are typically written in all capital letters. Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. MLS Multiple Listing Service WBFP Wood Burning Fireplace Crystal R. Cbl,Cblh Cable/Hookup Cont Contemporary WHF Whole House Fan Pro Forma Real Estate: Everything You Need to Know - RealWealth This website is using a security service to protect itself from online attacks. That could be good news, if you're on a strict budget and are open to purchasing a time-intensive starter house. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. A visual evaluation performed by a licensed home inspector to look for any potential defects or items of note related to the property, building(s), and the systems in a home. Home affordability takes into account your income, down payment, and monthly debts. Typically, most consumers mortgage interest rate is going to be higher than the prime rate. GRI Graduate REALTOR Institute Learn, A home loan not guaranteed by a government agency, such as the FHA or the VA. Read, A certain portion of the homes purchase price that a buyer must pay. LR Living room HDW, HWF, hdwd - This means there is hardwood flooring in the home. BB Baseboard Heat DLO Seller Disclosure Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. PCF Price to Cash Flow (ratio) Bulk Bulkhead JV Joint Venture EA exclusive agency Cdrcl Cedar Closet CRE Commercial Real Estate REL Related to Seller 2-LV : Two living levels. A certain portion of the homes purchase price that a buyer must pay. PRQ Parquet SEC Security System CATH Cathedral ceilings FPLC, FP, FRPLC Fireplace These abbreviations are typically written in all capital letters. Related:18 Big Storage Ideas to Steal from Tiny Homes. MLS - Multiple Listing Service; database of real estate for sale, Smart -a computer controls some electronic devices like heating, alarms, and lights, CCIM Certified Commercial Investment Member, PITI principal, interest, taxes and insurance, CCR conditions, covenants, and restrictions, ACRP - Association of Commercial Real Estate Professionals, CHMS Certified Home Marketing Specialist, CLHMS Certified Luxury Home Marketing Specialist, FDIC Federal Deposit Insurance Corporation, FEMA Federal Emergency Management Agency, FHLMC Freddie Mac (Federal Home Loan Mortgage Corporation), GNMA Ginnie Mae (Government National Mortgage Association), REALTOR Member of the National Association of Realtors. Read more about, escalation clauses and making an offer on a home, An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. BCH Beach All rights reserved. BLT Built-in SD/W Storm Doors & Windows One loan covers 80% of the homes value, another loan covers 10% to 15% of the homes value, and the buyer contributes the remainder. 27. MYOB Mind Your Own Business TRAN Transitional A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. L/O Lease Option FML Formal Are You Confused With These Real Estate Abbreviations? ARM Adjustable Rate Mortgage Not all Northwestern Mutual representatives are advisors. What Does "BB" Mean, and How Do I Use It? - How-To Geek This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. Be sure to read the fine print carefully. The "P" represents percent. The Real Estate Commission: How Much Are Realtor Fees? Margaret Heidenry is a writer living in Brooklyn, NY. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). O/F Owner Finance An encumbrance is a claim that limits how a property owner can use their property. Actv Active 2. Business W/D WD Washer and dryer UTRM Utility Room 4 Misconceptions Buyers and Sellers Have About the Housing Market, 10 Hottest Housing Markets of 2023, and What to Know if Youre Shopping in One, 13 Home-Buying Myths to Unlearn Right Now, 10 Hottest Housing Markets of 2023, and What to Know if You're Shopping in One, Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. Brk Brick BB Real Estate Advertising Abbreviation Meaning - All Acronyms GAR, GR Garage Keep this five-part guide handy youll be fluent in the language of home buying before you know it. But if you want to hang on to your cash and exercise some self-sufficiency, check out these clever products that solve a million and one little problems around the house. BKPORCH Back Porch That could mean the seller is still open to accepting an offer, so its worth touching base if your curiosity is piqued. The governments legal claim against property when the homeowner neglects or fails to pay a tax debt. The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. LA Living area This happens when the catcher manages to catch four pitches that classify as a ball, and the batter gets to move to first base without the danger of going out. You might also see the acronym BB%, which stands for base on balls rate its the statistical frequency that a pitcher will allow a batter to walk. ABS Assessment / Bill of Sale Assessment, Mineral/Oil & Gas. What Does 'NNN' Mean in Commercial Real Estate? Refund Policy, U.S. CAC Central Air Conditioning CAC Central air conditioning Normally, a piece of property can be easily classified as either personal property or real property. UNO Unit Number HUD Housing and Urban Development Real estate is considered real property that includes land and anything permanently attached to it or built on it, whether natural or man-made. FDIC Federal Deposit Insurance Corporation What sounds impressive on paper may look less appealing in person. And the real estate business is no different. SLT Slate While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. An origination fee is not a single fee. Cen Central Air SQ FT Square Feet Windows 11: How Much RAM Can Your PC Have? A concrete point at which buying a home makes more financial sense than renting one. An in-depth analysis, prepared by a real estate agent, that determines the estimated value of a home based on recently sold homes of similar condition, size, features and age that are located in the same area. You may want the retreat, but ask yourself if you're truly ready for all it entails. LPOA Limited Power of Attorney Copyright 2023 Acton Media Inc. All rights reserved. Read more about escalation clauses and making an offer on a home. BB Real Estate Abbreviation. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. Go now! Learn more about adjustable-rate mortgages here. COO or C of O Certificate of Occupancy Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. HWH Hot water heater What Is a Short Sale? - Ramsey - Ramsey Solutions Typically, putting away 5% of the rent . Canadian Real Estate Association, the national association for Canada. is part of the U.S. Department of Housing and Urban Development. CRS. APR Annual Percentage Rate CRE Creative Real Estate Performance & security by Cloudflare. Translation: This home is small. LTV Loan to Value Read, A ratio that compares a home buyers expenses to gross income. Title Records posts and articles. Cth Cathedral Ceiling COCR or CCR Cash on Cash Return . Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. REO Real Estate Owned APPLS Appliances Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. A not-for-profit professional association that sets and promotes standards for property inspections. Large E-2 plan:This is one of several floor plans available in a specific building. and IGSP In-Ground Sprinkler PICK Picket Fence Like, from the 50s. INLW In-Law Suite A portion of your monthly payment goes into the escrow account to cover taxes and insurance. 3B/2B - three bedrooms and two bathrooms 2C - two-car garage A/C - air conditioning Appls - appliances Apt - apartment Ba - bathroom Br - bedroom CAC - central air conditioning Ch - central heat WTR Water An origination fee is not a single fee. FSBO For Sale By Owner The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. Property Records What Does FS Mean, and How Do You Use It? Prepaid interest owed at closing, with one point representing 1% of the loan. 8 Real Estate Terms to Watch Out For - Bob Vila Dr -Dining Room Keep an eye out for seriousmaintenance issues that may be disguised by quick surface repairs, and call in a trusted home inspector to help you spot any hidden problems. TOWN Town House A/C Air Conditioning These institutions underwrite as well as set home loan pricing in-house. Read, A clause or addendum to a real estate contract or offer that states a buyer is willing to raise his or her offer price to a predetermined amount if the seller receives a higher competing offer for the property. A ratio that compares a home buyers expenses to gross income. VWS, VW, VU View or views W/D Washer/Dryer When used in a real estate listing, the words cozy or charming aren't describing the ambiance of the space so much as the size. REAL ESTATE DEED ABBREVIATONS AND ACRONYMS. Market conditions that exist when homes for sale outnumber buyers. Take a close look at the map before you head out to the hills to determine the listing's proximity to civilization. Contingent vs. under contract? CRS Certified Residential Specialist A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. The fascinating story behind . Imagine you're leasing a 1,000-square-foot office space with a base rental rate of. The act of paying off one loan by obtaining another. Used under license. MK Modern kitchen Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. TEN Tennis Court Translation: This home is small. MOPOA Monthly POA Fee A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home.

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