what does bb mean in real estate what does bb mean in real estate

There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The seller has an agreed-upon contract with the potential buyer. MWV Microwave Oven SEC Security System Dk Deck COF Cost of Funds D/W Dishwasher OO Owner Occupied GRES Graduate Real Estate Society JTUB Jetted Tub WHF Whole House Fan Fab pentrm:Fabulous pentroom, a room on top of the housebut under the roofthat has great views. GARB Garbage TIL Truth In Lending, A/G PL Above-ground Pool SAT Satellite Dish Abbreviations on the list may have capitalization variations. These institutions underwrite as well as set home loan pricing in-house. This abbreviation is a shorthand way of showing your affection to your partner. CLHMS Certified Luxury Home Marketing Specialist 2023 LoveToKnow Media. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. PVT Private OBO Or Best Offer In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. SMB Split Master Bedroom AC Acre WBS Wood-Burning Stove If they were not used, the ads for a home could get quite lengthy. Cer Ceramic Tile 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. A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. WAR Warranty Plan POA Power of Attorney 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. CBR Certified Buyer Representative CFD Contract for Deed COCR or CCR Cash on Cash Return Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. MYOB Mind Your Own Business A home loan not guaranteed by a government agency, such as the FHA or the VA. Read more about conventional loans here. 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. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. CRB Certified Real Estate Broker AST Assessment Lien Lien, JTL. Press F to Pay Respects: What Does F Mean Online? The difference between the two is usually fairly . NAT GS HT Natural gas heat GAR Garage HDW, HWF, hdwd - This means there is hardwood flooring in the home. Typically, most consumers mortgage interest rate is going to be higher than the prime rate. Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. This is a statement a borrower will receive from their lender at least three days before closing on a home. 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. R/OPT Rent w/Opt-Buy You are not obligated to accept the loan just because you received a loan estimate. Fixtures are a frequent subject of buyer and seller disputes. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. W/W CRPT Wall To Wall Carpet Reading real estate advertising acronyms can sometimes feel like trying to parse ancient Greek: EIL with a W/D? UPF, UPR Upper floor HSF Heated square feet Your IP: BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. A percentage of the homes value owned by the homeowner. Our belief in better is at the core of everything that we do, every day. Home affordability takes into account your income, down payment, and monthly debts. 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. SPLT Split-Level The status will show as pending until the closing. PAN Pantry Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. 4B/2B: Four bedrooms and two bathrooms. YD Yard Be sure to read the fine print carefully. D/D Dishwasher and a garbage disposal MAR Marble Crystal R. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. 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). It is in fact a real word (but that doesn't mean . The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. MLS Multiple Listing Service HRS Horses Allowed REALTOR Member of the National Association of Realtors Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. WD PNL Wood paneling SN Senior CRS Certified Residential Specialist Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. DK Deck FSBO For Sale by Owner Fpgas Gas Fireplace Join 425,000 subscribers and get a daily digest of news, geek trivia, and our feature articles. PILE Pilings Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. DOS Due On Sale Clause Listing:An agreement between a real estate broker and a home owner that allows the broker to market and arrange for the sale of the owners home. TRAN Transitional Privacy Policy Maximum loan amounts can vary by county. Brokerage. Fees associated with the purchase of a home that are due at the end of the sales transaction. A/G PL : Above-ground swimming pool. Fp, Fpl, Fplc Fireplace When this happens, he or she risks the home heading into the foreclosure process. to cover taxes and insurance. GRT RM Great room The governments legal claim against property when the homeowner neglects or fails to pay a tax debt. Even though a sale is highly likely, some pending properties may still accept backups. Not all products and services are available in all states. LR Living room This means that aproperty is currently on the market and available for sale. Step 2: Through your cost estimation, you figure out that $30,000 of investment will bring the property to a rental-ready state over the next 4 months. NBHD Neighborhood It is for information purposes only, and any links provided are for the users convenience. Find mortgage, lien, release, deed, notice of default, conveyance, lis pendens, bankruptcy, and judgment records for land, commercial, and residential real estate throughout the United States, Guam, Puerto Rico, and the U.S. Virgin Islands. Both words imply motion, but the difference may b. Defenestration. MAO Maximum Allowable Offer Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. Cth Cathedral Ceiling SEW Sewer Copyright 2022 Ann Arbor Area Board of REALTORS. An encumbrance is a claim that limits how a property owner can use their property. 3/4 Bath toilet + sink + shower or tub So if you adore what you see in thelisting, it certainly canthurt to inquire. Bidding wars are common. Learn more about adjustable-rate mortgages here. OFC Office WLKIN Walk-in Closet Cloudflare Ray ID: 7a2835264c3fdd54 Learn, The act of paying off one loan by obtaining another. CCR Conditions, Covenants, and Restrictions That happens through real care to make things better. In the event there is a DUAL commission split the two digits would be followed by a letter code: Example: P35C25 (3.5% offered on the first 100K, 2.5% offered after $100,000). IRA Individual Retirement Account There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. SQ FT Square Feet What Is a Short Sale? Learn, Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. L/O Lease Option FM RM Family Room When a home listing touts its custom features, take care. Its a set of lender-specific fees that are part of your costs when closing a mortgage loan. SWR Sewer Vann Vicente has been a technology writer for four years, with a focus on explainers geared towards average consumers. 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. INT Intercom MOPOA Monthly POA Fee 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. CP Carport is part of the U.S. Department of Housing and Urban Development. A portion of your monthly payment goes into the. SHNG Shingle Learn, A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. ATT Attached Garage PITI Principal, Interest, Taxes, and Insurance All rights reserved. That could be good news, if you're on a strict budget and are open to purchasing a time-intensive starter house. The content on this site is not intended to provide legal, financial or real estate advice. U/G SPRK Underground Sprinkler Here are a few examples of BB in action: Do you want to learn more internet slang terms? Foyr Foyer WIC Walk-in closet, ARV After-Repaired Value HI CEIL(S) High ceilings If you have the money to hire a handyman for every household woe, go ahead. CAP Capitalization GRI Graduate Realtor Institute C-fan Ceiling Fan BRRRR refinance example. UTRM Utility Room WHKP Washer Hookup FEMA Federal Emergency Management Agency While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. Learn more about HOAs here. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. Contingency:A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. Read, 42. END End Unit Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. GRMET KIT, GRMT KIT Gourmet kitchen Performance & security by Cloudflare. No purchase is necessary to view U.S. FR Family room Dr -Dining Room MO Month 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. Cozy Charm. Bsmt Basement The amount of the loan divided by the price of the house. Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. There are multiple reasons why homes become REO properties, the biggest one being that the home went into foreclosure. Not all Northwestern Mutual representatives are advisors. SCRND PORCH Screened Porch An origination fee is not a single fee. OA Owner Agent The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. Not all real estate agents are REALTORS. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. The fascinating story behind . FFE furniture, fixture, and equipment It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. F-bmt Finished Basement DEDRS Deed Restrictions 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. RELATED: How to Stream U.S. Sports for Free Online. An encumbrance can create a cloud on the title of a real property. Cen Central Air POF Proof of Funds Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. Windows 11: How Much RAM Can Your PC Have? PULL Pull-Down Attic Stair BB Real Estate Abbreviation. The document includes loan terms, monthly payment and closing costs. BD Bedroom This abbreviation is a shorthand way of showing your affection to your partner. Suggest. What Does FS Mean, and How Do You Use It? This means the propertys ownersare actively taking backup offers in case the first one falls through. A full bathroom is a room with a toilet, a sink and a bathtub. CATH Cathedral ceilings Personal property is movable property. A property was withdrawn from the realty market. A concrete point at which buying a home makes more financial sense than renting one. Read, A property repossessed by a bank when the owner fails to make mortgage payments. Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. The Mission of the Ann Arbor Area Board of REALTORS:To strengthen our REALTOR community through advocacy, collaboration,education, innovation and civic engagement. PAT Patio They charge dues used to maintain common areas. Contingent vs. under contract? A concrete point at which buying a home makes more financial sense than renting one. This is the escrow period, when both buyer and seller are workingtoward a closing. Exr Exercise Room A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. 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. 1. The "P" represents percent. But the cap rate is not the only metric used to evaluate a real estate investment. A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home. Insurance that protects the buyer and lender should an individual or entity step forward with a claim that was attached to the property before the seller transferred legal ownership of the property or title to the buyer. TRC Trash Compactor Check out our explainers on TMI, LFG, and SRSLY and expand your web vocabulary. PGS Propane Real property is immovable property - its land and anything attached to the land. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. Property Records 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.. CPM Certified Property Manager Your IP: Inspection occurs when the home is under contract or in escrow. RV PRKG RV Parking Prices are often higher than average. HVAC heating, ventilation and air conditioning WDSTV Wood-Burning Stove Learn, A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. Cent h/a Central Heat&Air He also works as a digital marketer for a regional e-commerce website. GAR, GR Garage A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. HUD Department of Housing and Urban Development Read more about origination fees here. The Federal Housing Administration is part of the U.S. Department of Housing and Urban Development. FCRA Fair Credit Reporting Act . Typically, most consumers mortgage interest rate is going to be higher than the prime rate. WF Waterfront FNCD YD Fenced Yard After the set time period your interest rate will change and so will your monthly payment. HOA Homeowners Association Try our affordability calculator to see how much house you might be able to afford. NGS Natural Gas 2. Business A property that has come back on the marketafter a pending sale. These contingencies fall away as tasks are completed, saysMelanie Atkinson, a Realtor with Coldwell Banker Residential Real Estate in Tampa, FL. A minimum requirement is often dictated by the loan type. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. A multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. Cont Contemporary 1C : One-car garage. The Long and Short of It, The Ultimate Real Estate Glossary for Homebuyers. 147.189.141.138 This type of limit can also allow the property buyer to back out of the sale and possibly seek damages in . WTR PD Water paid A three-page document sent to an applicant three days after they apply for a home loan. So if the home in question isyour dream home, it may be worth offering upa deal that the seller cant refuse.