ASG Assessment Assessment. Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. Col Colonial is part of the U.S. Department of Housing and Urban Development. After the set time period your interest rate will change and so will your monthly payment. 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. We Let ChatGPT Create AI Art, Heres What It Made, The New Outlook for Windows Is Opening Up to More People, How to Optimize Your Steam Deck for a Longer Lasting Battery, 2023 LifeSavvy Media. TEN Tennis Court A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nations housing markets. TIL Truth In Lending, A/G PL Above-ground Pool CATH Cathedral ceilings Cbl,Cblh Cable/Hookup MLSs are local or regional. Smart mortgage shoppers apply for at least two loans and use the loan estimates to determine which lender they want to use. Farm Farmhouse RVR River Read more about FHA loans here. Example: P30 (3% offered) SPC Drive parking spaces FSBO For Sale by Owner These costs include the brokerage commission, mortgage-related fees, escrow or attorneys settlement charges, transfer taxes, recording fees and title insurance. Abbreviations on the list may have capitalization variations. They charge dues used to maintain common areas. When you purchase through our links we may earn a commission. Learn more here. It may also give the breakdown of the number of floors, size of the rooms and their location within the home. NAR National Association of Realtors Step 3: You then find tenants in 30-60 days to take over the two . You may want the retreat, but ask yourself if you're truly ready for all it entails. So if you adore what you see in thelisting, it certainly canthurt to inquire. I want to receive exclusive email updates from YourDictionary. If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. Press F to Pay Respects: What Does F Mean Online? Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. FDIC Federal Deposit Insurance Corporation The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). Most lenders will require title insurance to protect their interests should there be outstanding liens on the property securing their security interest. Since many phrases can be shortened to BB, this acronym might refer to other things online. REF Refrigerator The fascinating story behind . AST Assessment Lien Lien, JTL. G-RNG Gas Range HDWD Hardwood DOS Due On Sale Clause Here are a few examples of BB in action: Do you want to learn more internet slang terms? HUD Department of Housing and Urban Development LLP Limited Liability Partnership What is BB meaning in Real Estate? A deed is the legal document that establishes ownership of real property, and is also used to transfer the ownership of real property to another person or entity. The seller has an agreed-upon contract with the potential buyer. Cloudflare Ray ID: 7a2835264c3fdd54 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. This is a statement a borrower will receive from their lender at least three days before closing on a home. Individuals could include neighbors or other people who have a right of way. There is no MLS covering the whole country. If you hang around social media circles and forums that talk about TV, BB might also stand for Big Brother, a prominent reality show franchise involving a group of strangers living together in the same house. A Short Guide to Real Estate Lingo - realtor.com IRR Internal Rate of Return Since we launched in 2006, our articles have been read billions of times. The action you just performed triggered the security solution. FNCD YD Fenced Yard Real Estate: Definition, Types, How to Invest in It - Investopedia PMI Private mortgage insurance CH Central heat 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.. and A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. The ratio compares the borrowers monthly debt payments to gross income. U/G SPRK Underground Sprinkler 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. Classifying property is in part about age but should also consider things like affordability, amenities, and livability. Read more about closing costs here. A minimum requirement is often dictated by the loan type. F/A Ht, FAH Forced Air Heat A not-for-profit professional association that sets and promotes standards for property inspections. One example is a buyers contractual right to obtain a professional home inspection before purchasing the home. These abbreviations 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. Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. CDS Cul de sac 4B/2B:Four bedrooms and two bathrooms. A property that has come back on the marketafter a pending sale. LRG Large Like other shorthand slang terms in text messages, this abbreviation is primarily written in the lowercase bb rather than the uppercase BB. On top of that, many acronyms use the uppercase BB, while the lowercase version almost exclusively refers to baby. BB is already an abbreviation of a fairly short word, so some people ditch the shorthand altogether and use baby or babe. Alternatively, you might see some people use variations such as bby, b2, or even just b., While baby has been a pet name for a romantic partner long before the internet age, the widespread use of BB is pretty recent. HP Heat Pump Investment brokerage services are offered through Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM, brokerdealer, registered investment advisor, and member FINRA and SIPC. Tiny houses are a trend, for sure. Refund Policy, U.S. 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. SMART Typically computer-controlled heating and cooling, alarms, lights etc. This was when the term exploded as a pet name between both lovers and friends. IRA Individual Retirement Account C-fan Ceiling Fan Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. CVAC Central Vacuum This means that the home fell out of escrow,perhaps due to contract issues, says Tania Matthews, an agent with Keller Williams Classic III Realtyin Central Florida. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. These institutions underwrite as well as set home loan pricing in-house. SEC Security System SMB Split Master Bedroom This abbreviation is a shorthand way of showing your affection to your partner. You might expect an up-and-coming neighborhood to be artsy and hip but that's not always the case. Read, 42. Perhaps the residential block is filled with old or rundown properties, with a few newly renovated homes sprinkled throughout. Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. All Rights Reserved, Hey bb! Back Bay. MLS Multiple Listing Service Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. Prices are often higher than average. The seller has an accepted offer but is waiting to see if the buyers bank will agree to it, says Realtor Dawn Rivera with Realty World-Viking Realty in Fremont, CA. LLC Limited Liability Company LOC Line of Credit Be sure to read the fine print carefully. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. BLT Built-in Real estate abbreviations are important to save time and money. 1C, 2C 1 or 2 car Garage But the cap rate is not the only metric used to evaluate a real estate investment. APPLS Appliances REALTOR:Areal estate broker or sales associate who is a member of the National Association of REALTORS. NOO Non-Owner Occupied Contingent vs. under contract? Co je to ESG a co pro vs znamen? - Lexology Hi ceils - This is an abbreviation for "high ceilings.". Margaret Heidenry is a writer living in Brooklyn, NY. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. BB Baseboard Heat 2. Learn more about down payments here. A combination of loans bundled to avoid private mortgage insurance. This list of real estate investing abbreviations is useful for real estate brokers. PVT Private PERM Perm Attic Stairs SAT Satellite Dish Market conditions that exist when homes for sale outnumber buyers. SFH Single Family House Translation: This home is small. L/O Lease Option The Real Estate Terms to Know When You're Looking at Home Listings SWR Sewer BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. EA exclusive agency A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. Brokerage. Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. Learn more about pre-approval here. PCF Price to Cash Flow (ratio) 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. RELO Relocation office A certain portion of the homes purchase price that a buyer must pay. In the abbreviations, you may see differences in which letters get capitalized and which don't depending on the realtor/publication. WSH Washer A process a lender follows to assess a home loan applicants income, assets and credit, and the risk involved in offering the applicant a mortgage. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. A security deposit made by the buyer to assure the seller of his or her intent to purchase. These structures can be both above and under the ground. SRES Senior Real Estate Specialist, Additional Resources: Title insurance:An insurance policy that protects a lenders or owners interest in real property from assorted types of unexpected or fraudulent claims of ownership. Dsp Garbage Disposal He's invested in internet culture, social media, and how people interact with the web. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. This website is using a security service to protect itself from online attacks. Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. Det Detached Garage Sort. You are not obligated to accept the loan just because you received a loan estimate. "Bedroom" usually means a sleeping area with a window and a closetin some areas, laws define what a room needs to be called a bedroombut the . Real Estate Abbreviations | YourDictionary Take a close look at the map before you head out to the hills to determine the listing's proximity to civilization. In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. Fees associated with the purchase of a home that are due at the end of the sales transaction. One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. Prepaid interest owed at closing, with one point representing 1% of the loan. 8 Real Estate Terms to Watch Out For - Bob Vila Prospective purchasers of an inn need to know exactly what they mean. Large E-2 plan:This is one of several floor plans available in a specific building. WIN Window/Wall Unit Zillow, Inc. holds real estate brokerage licenses in multiple states. A licensed professional who works on behalf of the buyer to secure financing through a bank or other lending institution. DEDRS Deed Restrictions Baseboard Heat + 2. Business, Property, Real Estate Advertising. 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. That could mean the seller is still open to accepting an offer, so its worth touching base if your curiosity is piqued. They provide clues to what is included in the purchase price. Brk Brick Clap Clapboard Siding Fp, Fpl, Fplc Fireplace 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. Copyright 2023 Acton Media Inc. All rights reserved. P&S Purchase and Sale ASM Assumptions Learn, Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. OCN Ocean PL/1 In-Ground Pool Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. PLAY Playground DOS Due On Sale Clause 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. SQ FT Square Feet The owner has removed the property from the listings for an undetermined period, usually because work is being done on the house or because the home cannot be shown. LTV Loan to Value POA Power of Attorney Learn more about HOAs here. PMI Private Mortgage Insurance 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. OP Occupancy Permit It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. Home affordability takes into account your income, down payment, and monthly debts. CP Carport PULL Pull-Down Attic Stair 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. AC Acre 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 UTRM Utility Room Read, A ratio that compares a home buyers expenses to gross income. Real Estate Abbreviations And Acronyms - U.S. Title Records Property Records to see how much house you might be able to afford. Related:The Best 10 Plants to Grow for Backyard Privacy. Real estate agents and other real estate professionals often need to have specific certifications and may work with or belong to different associations or groups. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. Try our amortization calculator to learn more. A concrete point at which buying a home makes more financial sense than renting one. 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. STR On Street Parking If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. NONQ Non-Qualifying CAC Central Air Conditioning REI Real Estate Investing Deco Decorative Fence 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. A rehabilitation loan backed by the federal government that permits home buyers to finance money into a mortgage to repair, improve or upgrade a home. You can email the site owner to let them know you were blocked. Not all mortgages. Cth Cathedral Ceiling Click to reveal 4B/2B: Four bedrooms and two bathrooms. TOWN Town House In the abbreviations, you may see differences in which letters get capitalized and which dont depending on the realtor/publication. If a place is advertised as needing TLC then its likely a bona fide fixer-upper. SRO Single Room Occupancy FR Family room Tiny . Windows 11: How Much RAM Can Your PC Have? NAR National Association of Realtors In fact, there are probably more terms in the housing biz than just about anything short of neurosurgery. RPAC Realtors Political Action Committee This is the escrow period, when both buyer and seller are workingtoward a closing. DK Deck It may have received offers, but none have yet been accepted, which means that the opportunity is wide open for you to make a proposal. CRE Creative Real Estate UPF, UPR Upper floor A home loan not guaranteed by a government agency, such as the FHA or the VA. Read more about conventional loans here. IGSP In-Ground Sprinkler Only those representatives with Advisor in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services. The four items include, repairs, vacancy loss, property management, and miscellaneous. ERS exclusive right to sell 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. F/BSMT Fully finished basement Read more about escalation clauses and making an offer on a home. If you wish to report an issue or seek an accommodation, please let us know. This means that even though theres an accepted offer on the home, the seller is looking for backup offers in case the primary buyerfalls through. 18 Big Storage Ideas to Steal from Tiny Homes, The 12 Fall Home Maintenance Tasks You Can't Ignore, 7 Features That Define the New American Home, 9 Ways Your Neighbors Can Screw Up Your Home Sale, 10 Signs That Fixer-Upper Might Be a Money Pit, 12 Things Realtors Look For in Homes of Their Own, The Best 10 Plants to Grow for Backyard Privacy, 15 Warning Signs to Look for Before Making an Offer on a Property, Data Shows This Listing Trick Sells Homes for More Money, As-Is Real Estate: What Buyers and Sellers Need to Know, 15 Things Not to Say in Your Real Estate Listing, Watch Out for 12 Real Estate Tactics Designed to Make You Spend More, 11 Awful Real Estate PhotosAnd How to Make Yours Great, 12 Things You Don't Realize Are Annoying Your Neighbors. Privacy Policy Learn more about foreclosure here. FHA Federal Housing Administration Fees imposed by the state, county or municipality on transfer of title. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. 2. Canadian Real Estate Association, the national association for Canada. Cldsc Cul-de-sac You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. It's anything that can be subject to ownership, except land. Your IP: D/W Dishwasher KIT, KT Kitchen Terms Of Use The status will show as pending until the closing. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. CHMS Certified Home Marketing Specialist Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. MYOB Mind Your Own Business Sub2 Subject to existing financing Try, A fee, charged by a broker or lender, to underwrite and process a home loan application. 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). Pro Forma Real Estate: Everything You Need to Know - RealWealth CLTV Combined Loan To Value 4/3 4 bedrooms / 3 bathrooms Real Estate Terms & Lingo | Terminology, Definitions & Abbreviations FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation Bsmt Basement Bidding wars are common. No purchase is necessary to view U.S. The amount of the loan divided by the price of the house. Fixtures include wall-to-wall carpeting, light fixtures, window coverings and landscaping. BB. A concrete point at which buying a home makes more financial sense than renting one. FHA Federal Housing Administration The price of a home, as set by the seller. Inspection occurs when the home is under contract or in escrow. Affordability. SFR Single Family Residence You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. TXS Taxes The Mission of the Ann Arbor Area Board of REALTORS:To strengthen our REALTOR community through advocacy, collaboration,education, innovation and civic engagement. The "P" represents percent. FML Formal Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. PAT Patio BBbb. AEK All electric kitchen C/VAC Central vacuum REO Real Estate Owned SHNG Shingle The difference between the two is usually fairly . Dk Deck 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. GAROP Garage Door Opener W/D HKUP Washer/Dryer hookup LTV loan to value Crwl Crawl Space Related:18 Big Storage Ideas to Steal from Tiny Homes. Mstr Master bed room A property was withdrawn from the realty market. HomeReal Estate Abbreviations Real Estate Abbreviations A helpful list of the most commonly used real estate abbreviations, and land and property abbreviations used in most real-estate-related industries. Used under license. Read more about PMI here. 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. 67.211.219.14 NBHD Neighborhood PAR Partially Fenced Read more about back-end ratio here. UNO Unit Number Bung Bungalow Dr -Dining Room Oftentimes, a seller will take a property off the market while they make home repairs or improvements., Under contract (UC):This statusalsoindicates thattheseller has acceptedan offer from a buyer, but the sale has not yet been completed. COF Cost of Funds Investors will also want to consider the return on investment (ROI), internal rate of return (IRR . NYSAR New York State Association of Realtors BA Bath OFC Office This claim belongs to a third party, who can either be an organization or an individual. MBRFP Master Bedroom w/FP Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance.