Press F to Pay Respects: What Does F Mean Online? Bring vs. Take. Cap Rate: Defined And Explained | Rocket Mortgage Market conditions that exist when homes for sale outnumber buyers. After all, you wouldn't want to get stuck with a money pit. Tiny . Hi ceils - This is an abbreviation for "high ceilings.". Copyright 2023 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. They charge dues used to maintain common areas. YD Yard Cldsc Cul-de-sac POR, POR-S Porch/Screened A certain portion of the homes purchase price that a buyer must pay. SUN Sun Room HD, HDFL Hardwood floors When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. MCOA Min $ on Assumption NAR National Association of Realtors WF Waterfront . 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. Read, A ratio that compares a home buyers expenses to gross income. PL/1 In-Ground Pool Learn more about refinancing here. TRC Trash Compactor But if not, you'll want to factor in the cost ofrenovationsbefore deciding if this home is both in your budget and worth a visit. UTRM Utility Room Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). HRS Horses Allowed 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. Try our amortization calculator to learn more. FAG Forced air gas A concrete point at which buying a home makes more financial sense than renting one. You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. Learn more about down payments here. Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. 7 meanings of BB abbreviation related to Real Estate: Real Estate. BRRRR refinance example. ATT Attached Garage Most real estate agents use similar abbreviations as part ofreal estate lingo, so once you get the jist, you can read any listing with confidence. An FDR with a DK? WSH Washer Dry Clothes Dryer A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. County real estate and property records abbreviations and acronyms: AD Administrator's Deed Notice. Fixtures are a frequent subject of buyer and seller disputes. Try our debt-to-income calculator to learn more. Fp, Fpl, Fplc Fireplace Read, more about the Buy-Rent Breakeven Horizon here, The sale of a home by an owner who owes more on the home than its worth. Paying points, which are tax deductible, will lower the monthly mortgage payment. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). PITI Principal, Interest, Taxes and Insurance HSF Heated square feet CRS. If you wish to report an issue or seek an accommodation, please let us know. CMA Comparative Market Analysis When offering a selling bonus to a selling broker, the listing broker must specify the terms of the bonus offer according to the following guideline code: B dollar amount/terms/expiration date of offer (if applies), Examples: B1000/APT/010113 ($1000 Bonus on Accepted Price & Terms Offer Good until January 1, 2013) B1000/FPT/010113 ($1000 Bonus on Full Price & Terms Offer Good until January 1, 2013). PAN Pantry Bonus information may be placed in "Other" field. Read more about FHA loans here. Home affordability takes into account your income, down payment, and monthly debts. CCR Conditions, Covenants, and Restrictions 3/4 Bath toilet + sink + shower or tub During this time, the home is inspected and appraised, and the title is searched for liens, etc. INT Intercom What Does 'NNN' Mean in Commercial Real Estate? O/F Owner Finance Learn more about adjustable-rate mortgages here. MOPOA Monthly POA Fee An origination fee is not a single fee. Performance & security by Cloudflare. Real estate owned (REO) properties are homes that have fallen under the ownership of a mortgage lender or investor, typically because the property failed to sell at auction. GLF Golf Course ALM Aluminum Siding These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. BCH Beach He's invested in internet culture, social media, and how people interact with the web. WTR PD Water paid CMA:Comparative market analysis or competitive market analysis. A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. HUD Department of Housing and Urban Development Title Records posts and articles. GARD Garden In the abbreviations, you may see differences in which letters get capitalized and which dont depending on the realtor/publication. But the cap rate is not the only metric used to evaluate a real estate investment. And the real estate business is no different. The number of days a property listing is considered active. 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. BA Bathroom Contact Us In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home. Its a set of lender-specific fees that are part of your costs when closing a mortgage loan. So if you adore what you see in thelisting, it certainly canthurt to inquire. This abbreviation is a shorthand way of showing your affection to your partner. property in buildings and land; space, capacity See the full definition . Go now! TRSH Trash Pickup When a home listing touts its custom features, take care. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. F-bmt Finished Basement HB Half Bath (toilet + sink) RV PRKG RV Parking Cap rates can provide valuable insight into a property. MIC Mint Condition (like new or new) RAD Radiant Heat GRNO Ground Maintenance DCR, DSCR, DSR Debt Service Coverage Ratio Perhaps the residential block is filled with old or rundown properties, with a few newly renovated homes sprinkled throughout. The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). EIK Eat in kitchen A lien is a security interest that can give a creditor the right to take possession of a property secured by a loan, such as a mortgage, when the borrower defaults on the loan obligations. Learn more about HOAs here. Try. BKYD Backyard An adjustable-rate mortgage, or ARM, has an introductory interest rate that lasts a set period of time and adjusts every six months thereafter for the remaining loan term. GARB Garbage PRQ Parquet What is BB meaning in Real Estate Advertising? EA exclusive agency Learn more about short sales here. MLS Multiple Listing Service You may want the retreat, but ask yourself if you're truly ready for all it entails. Fixtures include wall-to-wall carpeting, light fixtures, window coverings and landscaping. 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative SPKLR Sprinkler HIST Historical District A Short Guide to Real Estate Lingo - realtor.com GRI Graduate Realtor Institute We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Whether you are looking at abbreviations or acronyms for real estate terms, be sure you clearly understand what they mean when referring to a specific piece of real estate. That doesnt mean that its a done deal by any means, however (more on that next). Its a set of lender-specific fees that are part of your costs when closing a mortgage loan. These abbreviations are typically written in all capital letters. Encumbrance, Defined And Explained | Rocket Mortgage I want to receive exclusive email updates from YourDictionary. You can email the site owner to let them know you were blocked. When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. Call it what you willjargon, shorthand, lingobut every industry, including the real estate world, has its own language, a collection of terms that are essential to understand if you hope to play ball. REALTOR Member of the National Association of Realtors The MLS listing should give the basics about a home: the price, taxes, types of utilities, and square footage. PROP HT Propane Heat Related:10 Signs That Fixer-Upper Might Be a Money Pit. LTV loan to value It's a piece of land and the property - such as a house, office building, apartment, strip center or warehouse - that sits on it. CAP Capitalization FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation SFH Single Family House CH Central heat If you have the money to hire a handyman for every household woe, go ahead. NONQ Non-Qualifying This might be for a variety of reasons: The sellers may have decided they want to stay put, or they may just not have received any offers they liked. Cdrcl Cedar Closet Expansion potl:Expansion potential mean that theres extra space on the lot or the possibility of adding a room or even an upper levelsubject to local zoning restrictions. The word listing is also used to refer to the for-sale home itself. Learn more about foreclosure here. Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). BB is most commonly used on the internet (and in text messages) as an abbreviated form of baby. However, baby in this context is used as a pet name or term of endearment for your romantic partner and not an infant child. A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. Before you buy, consider what the neighborhood will look like in the long term and if you want to live in a neighborhood that's still in the process of change. A/G PL : Above-ground swimming pool. If your offer is accepted as a backup, youre in line to go under contract if the first sale falls through. Learn, Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. P&S Purchase and sale Take a close look at the map before you head out to the hills to determine the listing's proximity to civilization. Each lending institution sets its own prime rate. BB Real Estate Abbreviation. Dr -Dining Room SFR Single Family Residence GAR Garage A percentage of the homes value owned by the homeowner. R/OPT Rent w/Opt-Buy If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. To meet client needs, to empower teammates, and to lift up communities. What Do All Those Real Estate Listing Terms Really Mean? Back Bay + 1 1. Crystal R. Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. PICK Picket Fence You are not obligated to accept the loan just because you received a loan estimate. ASM Assumptions CDS Cul de sac Before you jump on a house with a "too good to be true" price, you need to understand how the short sale process works and connect with your real estate agent for more details. Vann Vicente has been a technology writer for four years, with a focus on explainers geared towards average consumers. Baseboard Heat + 2. Business, Property, Real Estate Advertising. GRES Graduate Real Estate Society Each lending institution sets its own prime rate. The Mission of the Ann Arbor Area Board of REALTORS:To strengthen our REALTOR community through advocacy, collaboration,education, innovation and civic engagement. The first entry for this abbreviation on Urban Dictionary was made in 2006 and referred to it as Netspeak for baby, normally placed at the end of a text..