what does bb mean in real estate

Read, A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. POA Power of Attorney Fees associated with the purchase of a home that are due at the end of the sales transaction. After all, custom upgrades (like any decor choice) reflect the taste of the previous owner, and may or may not be to your taste. Learn more about adjustable-rate mortgages here. Related:The Best 10 Plants to Grow for Backyard Privacy. Powered by webmasterWP.com. Learn, A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. CRS is a title awarded by the Council of Residential Specialists to only the top real estate agents, managers, and brokers. Fpgas Gas Fireplace Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. W/D Washer/Dryer Yes! That doesnt mean that its a done deal by any means, however (more on that next). In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. How have you been?. LR Living room Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. OA Owner Agent We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). 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 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. CLTV Combined Loan To Value Fp, Fpl, Fplc Fireplace Even though a sale is highly likely, some pending properties may still accept backups. HWH Hot water heater If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and financial abbreviations youll see. The amount of the loan divided by the price of the house. LLP Limited Liability Partnership It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. Imagine you're leasing a 1,000-square-foot office space with a base rental rate of. Learn, Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. TOWN Town House This website is using a security service to protect itself from online attacks. COO or C of O Certificate of Occupancy 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 definition varies in different places. Tiny houses are a trend, for sure. CRE Commercial Real Estate One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. FRBO for rent by owner Prepaid interest owed at closing, with one point representing 1% of the loan. FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation Not all mortgages. Lock box:Locked key-holding device affixed to a for-sale home so real estate professionals can gain entry into the home after obtaining permission from the listing agent. F-bmt Finished Basement FPLC, FP, FRPLC Fireplace An MLS allows brokers to see one another's listings of. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. 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. He's invested in internet culture, social media, and how people interact with the web. CRT. 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. MAR Marble The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. HOA Homeowners Association Like, from the 50s. Principal, interest, property taxes and homeowners insurance (PITI), A fee charged to borrowers who make a down payment that is less than 20% of the homes value. Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. Have questions about your home financingpaperwork? Maximum loan amounts can vary by county. The owners bank must approve a lower listing price before the home can be sold. FHA Federal Housing Administration GRMET KIT, GRMT KIT Gourmet kitchen A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. O/F Owner Finance BLT Built-in Sign up for our weekly newsletters and get: By signing in, you agree to our Terms and Conditions EIK Eat in kitchen W/W CRPT Wall To Wall Carpet PMI Private mortgage insurance WLKIN Walk-in Closet Learn more about pre-approval here. OVER Oversized Garage 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. Lo dues:Low homeowners association dues. The New Outlook Is Opening Up to More People, Windows 11 Feature Updates Are Speeding Up, E-Win Champion Fabric Gaming Chair Review, Amazon Echo Dot With Clock (5th-gen) Review, Grelife 24in Oscillating Space Heater Review: Comfort and Functionality Combined, VCK Dual Filter Air Purifier Review: Affordable and Practical for Home or Office, LatticeWork Amber X Personal Cloud Storage Review: Backups Made Easy, Neat Bumblebee II Review: It's Good, It's Affordable, and It's Usually On Sale. Cent h/a Central Heat&Air You might expect an up-and-coming neighborhood to be artsy and hip but that's not always the case. C-fan Ceiling Fan They provide clues to what is included in the purchase price. Mstr Master bed room Those real estate terms and definitions should give you a good start when it comes to understanding your real estate agent and the listings they . GLF Golf Course Join 425,000 subscribers and get a daily digest of news, geek trivia, and our feature articles. MK Modern kitchen Read, A property repossessed by a bank when the owner fails to make mortgage payments. W/D WD Washer and dryer CAC Central Air Conditioning But unlike an AWC, the property is no longer available forshowings., Whileabbreviations and acronymsfor property descriptionsvary by listingand source,thetermsbelow canbe used as a general guide to help you translateanything unfamiliar.If youre still unclear whata shorthand is referring to,reach out to the listing agent., As-is:Theowner is selling the home in its current condition and willnot makeanyrepairs orcorrect any flaws with the property., OLREA:Owner is a licensed real estate agent. Zillow (Canada), Inc. holds real estate brokerage licenses in multiple provinces. 442-H New York Standard Operating Procedures New York Fair Housing NoticeTREC: Information about brokerage services, Consumer protection noticeCalifornia DRE #1522444Contact Zillow, Inc. BRRRR refinance example. PAT Patio BD Bedroom CVAC Central Vacuum A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. REF Refrigerator Typically, putting away 5% of the rent . Individuals could include neighbors or other people who have a right of way. FFBR First Floor Bedroom SMP Sump Pump OP Occupancy Permit TRC Trash Compactor Cen Central Air Click to reveal PUD Planned Unit Development While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. 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. Fees imposed by the state, county or municipality on transfer of title. VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization A database where real estate agents list properties for sale. PERM Perm Attic Stairs 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. Learn more about HOAs here. INLW In-Law Suite I havent seen you in forever. SPC Drive parking spaces HDW, HWF, hdwd - This means there is hardwood flooring in the home. Try, A fee, charged by a broker or lender, to underwrite and process a home loan application. The number of days a property listing is considered active. HSF Heated square feet 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. IRR Internal Rate of Return Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. After the set time period your interest rate will change and so will your monthly payment. After the set time period your interest rate will change and so will your monthly payment. Membership isnt open to the general public, although selected MLS data may be sold to real estate listings web sites. And the real estate business is no different. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. OSP Off-street parking is available The document includes loan terms, monthly payment and closing costs. Updated from an earlier version on realtor.com. MLS Multiple Listing Service GNMA Ginnie Mae or Government National Mortgage Association Real Estate Definition. Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). 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. CFD Contract for Deed PVT Private This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. Baseboard Heat + 2. Business, Property, Real Estate Advertising. Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. The property is sold and no longer available. . Terms Of Use HD, HDFL Hardwood floors HPWA Water/Air Ht Pump P&S Purchase and Sale Affordability. Normally, a piece of property can be easily classified as either personal property or real property. If its someone youre romantically interested in, you have to be in a relationship with them or in the process of courting them. Sort. An encumbrance is a claim that limits how a property owner can use their property. In the abbreviations, you may see differences in which letters get capitalized and which don't depending on the realtor/publication. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. They charge dues used to maintain common areas. is part of the U.S. Department of Housing and Urban Development. This is important, as identifying a property's class can predict how the asset might perform. 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 multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. The terms are frequently seen in advertising of bed & breakfast inns for sale: "turnkey," "mostly turnkey," "real estate only," "real estate and good will.". Try. Since we launched in 2006, our articles have been read billions of times. FDR/DR Dining room or a formal dining room Refinancing is generally done to secure better loan terms, such as a lower interest rate. SCRND PORCH Screened Porch A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Back Bay + 1 1. An encumbrance can create a cloud on the title of a real property. OFF Off Street Parking Windows 11: How Much RAM Can Your PC Have? Crprt Carport It is for information purposes only, and any links provided are for the users convenience. Bung Bungalow Home affordability takes into account your income, down payment, and monthly debts. Fab pentrm:Fabulous pentroom, a room on top of the housebut under the roofthat has great views. Press F to Pay Respects: What Does F Mean Online? D/W Dishwasher WHF Whole House Fan Your IP: A minimum requirement is often dictated by the loan type. MIC Mint Condition (like new or new) One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. SHOP Workshop Read, 42. G/A Garage, Attached OBO Or Best Offer HUD Department of Housing and Urban Development Brk Brick LA Living area One loan covers 80% of the homes value, another loan covers 10% to 15% of the homes value, and the buyer contributes the remainder. The governing body of a housing development, condo or townhome complex that sets rules and regulations. Be sure to read the fine print carefully. A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. You are not obligated to accept the loan just because you received a loan estimate. 2. Real estate is considered real property that includes land and anything permanently attached to it or built on it, whether natural or man-made. Not all products and services are available in all states. A full bathroom is a room with a toilet, a sink and a bathtub. MBA Master Bedroom w/Bath A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. PICK Picket Fence Used under license. The line items should look similar to what a borrower sees on their loan estimate when first applying there are limits to how much any fees can change in the time period between application and closing day, so borrowers should review their closing disclosure closely and ask their lender about any changes. CFan Ceiling Fan UTLVL Utility Room Level L/O Lease Option MOPOA Monthly POA Fee CCIM Certified Commercial Investment Member If you wish to report an issue or seek an accommodation, please let us know. The word listing is also used to refer to the for-sale home itself. Or comparable sales, are homes in a given area that have sold within the past several months that a real estate agent uses to determine a homes value. 4B/2B:Four bedrooms and two bathrooms. An origination fee is not a single fee. REALTOR:Areal estate broker or sales associate who is a member of the National Association of REALTORS. WF Waterfront Smart mortgage shoppers apply for at least two loans and use the loan estimates to determine which lender they want to use. EA exclusive agency Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. An origination fee is not a single fee. A fee charged to borrowers who make a down payment that is less than 20% of the homes value. ROI Return On Investment ASG Assessment Assessment. IGSP In-Ground Sprinkler CREA. Cbl,Cblh Cable/Hookup Translation: This home is small. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. HRS Horses Allowed It's a piece of land and the property - such as a house, office building, apartment, strip center or warehouse - that sits on it. LRG Large AST Assessment Lien Lien, JTL. BCH Beach CRB Certified Real Estate Broker Active This means that a property is currently on the market and available for sale. The MLS listing should give the basics about a home: the price, taxes, types of utilities, and square footage. DTI Debt to Income Ratio A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nations housing markets. RTO Rent To Own DK Deck 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. Brkf Breakfast Area Read more about the Buy-Rent Breakeven Horizon here. 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. Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. The content on this site is not intended to provide legal, financial or real estate advice. The sale of a home by an owner who owes more on the home than its worth. PRQ Parquet Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. HDWD Hardwood VYL Vinyl UPF, UPR Upper floor BB Real Estate Abbreviation. CRS Certified Residential Specialist NAR National Association of Realtors Click to reveal These institutions underwrite as well as set home loan pricing in-house.

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