what does bb mean in real estate
This browser is no longer supported. Guide To REO Properties And How To Buy Them | Quicken Loans RELO Relocation office OFC Office Go now! 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. Dry Clothes Dryer FHA loans are different from conventional loans because they can be approved for borrowers with lower credit scores and may allow for down payments as low as 3.5 percent of the total loan amount. Crprt Carport Related:12 Things Realtors Look For in Homes of Their Own. Bring vs. Take. A concrete point at which buying a home makes more financial sense than renting one. Tiny . Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. By submitting your email, you agree to the Terms of Use and Privacy Policy. Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. Market conditions that exist when homes for sale outnumber buyers. CPT Carpet or Carport One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. A buyers final inspection of a home before closing. It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. Privacy Policy. Like, from the 50s. Yes! 8 Real Estate Terms to Watch Out For - Bob Vila HIST Historical District 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. Dr -Dining Room Bulk Bulkhead If not, it could end up back on the market, so go ahead and inquire if youre interested. Your IP: FMV Fair Market Value INGRD PL pool in ground pool What Does FS Mean, and How Do You Use It? POA Power of Attorney SMART Typically computer-controlled heating and cooling, alarms, lights etc. VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization VWS, VW, VU View or views IRR Internal Rate of Return Actv Active SMB Split Master Bedroom Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). PAR Partially Fenced But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. Normally, a piece of property can be easily classified as either personal property or real property. CDS Cul de sac If you have made your required monthly payments, at the end of the loan term (e.g., 15 or 30 year mortgage), you will own your home. Cloudflare Ray ID: 7a2835264c3fdd54 Anne Miller lives in New York and writes real estate news and advice stories. Terms Of Use REALTOR Member of the National Association of Realtors The price of a home, as set by the seller. If thats your style, you're in luck. All abbreviations on this list are typically written in all capital letters. CLTV Combined Loan To Value Our belief in better is at the core of everything that we do, every day. OBO Or Best Offer DTI Debt to Income Ratio Read our stress-free guide to getting a mortgage. Bsmt Basement 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). OO Owner Occupied RTO Rent to Own If youre going to use BB in a platonic way, then you can get away with simply inserting it in a casual text. Fixture:Anything of value that is permanently attached to or a part of real property. Repairs. Margaret Heidenry is a writer living in Brooklyn, NY. In many listings, the term is used to describe to an area that's in the process of transition. SD/W Storm Doors & Windows This claim is brought up by a party who is not the owner and restricts what an owner can do with the property. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. RPAC Realtors Political Action Committee That doesnt mean that its a done deal by any means, however (more on that next). Since we launched in 2006, our articles have been read billions of times. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. A house located in a quiet location may be slightly off the beaten trackor, it may be out-and-out secluded. 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. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Exr Exercise Room SHOP Workshop UNO Unit Number One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. How to use real estate in a sentence. MULTI 3+ Car Garage ATT Attached Garage Learn more about short sales here. FML Formal ABS Assessment / Bill of Sale Assessment, Mineral/Oil & Gas. SHNG Shingle When a home listing touts its custom features, take care. 1. Class A, B, C, D Real Estate: A Guide to Property Class Types Read, 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. MAO Maximum Allowable Offer Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Lenders reward lower LTV ratios. Read, 42. WIN Window/Wall Unit One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. What Is a Short Sale? Who doesnt get a thrill while browsing real estate onsites likeZillow or Trulia?Window-shopping for housesonlineis oneof the mostfun partsof the homebuying process. 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. SD Security Deposit Be sure to read the fine print carefully. Active This means that a property is currently on the market and available for sale. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. All Rights Reserved. P&S Purchase and sale Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. Brk Brick Buying a Flipped House: Is It Right for You? MBRFP Master Bedroom w/FP A certain portion of the homes purchase price that a buyer must pay. You can email the site owner to let them know you were blocked. A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nations housing markets. IGSP In-Ground Sprinkler Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. ASB Asbestos Siding A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. The four items include, repairs, vacancy loss, property management, and miscellaneous. D/D Dishwasher and a garbage disposal 1 /8. You dont need a real estate license to find your dream home, but it does help to become familiar with real estate jargon you might encounter during the process. Miscellaneous. You can email the site owner to let them know you were blocked. Cap Rate: Defined And Explained | Rocket Mortgage Related:9 Ways Your Neighbors Can Screw Up Your Home Sale. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. Cont Contemporary An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. I havent seen you in forever. The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). DOS Due On Sale Clause A percentage of the homes value owned by the homeowner. All rights reserved. The terms are frequently seen in advertising of bed & breakfast inns for sale: "turnkey," "mostly turnkey," "real estate only," "real estate and good will.". OWN Owner Financing A property that has come back on the marketafter a pending sale. Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. Cbl,Cblh Cable/Hookup A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country. HML Hard Money Lender A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. What Does 'NNN' Mean in Commercial Real Estate? The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. PUD Planned Unit Development If they were not used, the ads for a home could get quite lengthy. CHMS Certified Home Marketing Specialist Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. We select and review products independently. NAR National Association of Realtors It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. Try our amortization calculator to learn more.
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