MEIK Modern eat-in kitchen It should return to active soon enough, so its certainly worth piping up if youre smitten. That doesnt mean that its a done deal by any means, however (more on that next). Read, A ratio that compares a home buyers expenses to gross income. W/D Washer/Dryer STOR Assigned Storage FHA Federal Housing Administration BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. Title Records Corp.160 Greentree DriveDover, DE 199041-302-269-3942office@ustitlerecords.com, #ustitlerecords #ustitlerecords #ustitlerecords. A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. GAROP Garage Door Opener BB Real Estate Abbreviation. CAC Central air conditioning 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. MLS Multiple Listing Service All Rights Reserved, Hey bb! 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. Fees associated with the purchase of a home that are due at the end of the sales transaction. to see how much house you might be able to afford. 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. 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. A fee, charged by a broker or lender, to underwrite and process a home loan application. 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). If a place is advertised as needing TLC then its likely a bona fide fixer-upper. Our belief in better is at the core of everything that we do, every day. 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. 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. CAP Capitalization Essentially, "turnkey" means that . 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. C-fan Ceiling Fan 1. Performance & security by Cloudflare. Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Back Bay. Inspection occurs when the home is under contract or in escrow. FFBR First Floor Bedroom Updated from an earlier version on realtor.com. Abbreviations on the list may have capitalization variations. It may also give the breakdown of the number of floors, size of the rooms and their location within the home. The price of borrowing money. REF Refrigerator and Like, from the 50s. Related:12 Things Realtors Look For in Homes of Their Own. F-bmt Finished Basement Try, A fee, charged by a broker or lender, to underwrite and process a home loan application. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. TRC Trash Compactor CVAC Central Vacuum PGS Propane FDR/DR Dining room or a formal dining room 2023 All Rights Reserved. Cldsc Cul-de-sac Look for this accreditation or something similar when shopping for a home inspector. Other internet-specific definitions for BB include bye-bye, a largely defunct acronym that was more common in the early days of the internet. Cozy Charm. Property Records He's invested in internet culture, social media, and how people interact with the web. Q POS Available for quick possession RVR River FR Family room Brk Brick When you boil it down to the basics, real estate has a simple meaning. PMI Private mortgage insurance In many listings, the term is used to describe to an area that's in the process of transition. 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. Not all real estate agents are REALTORS. Personal property is movable property. 2. Home A home loan not guaranteed by a government agency, such as the FHA or the VA. Read more about conventional loans here. HD, HDFL Hardwood floors If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. 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. 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative FHA Federal Housing Administration Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. This means that aproperty is currently on the market and available for sale. They charge dues used to maintain common areas. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. 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. Suggest. WHKP Washer Hookup All Rights Reserved. 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. Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. Contingent vs. under contract? EMC Earnest money contract 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. During this time, the home is inspected and appraised, and the title is searched for liens, etc. This happens when the catcher manages to catch four pitches that classify as a ball, and the batter gets to move to first base without the danger of going out. You might also see the acronym BB%, which stands for base on balls rate its the statistical frequency that a pitcher will allow a batter to walk. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. The four items include, repairs, vacancy loss, property management, and miscellaneous. HRS Horses Allowed A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nations housing markets. 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. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. Read more about escalation clauses and making an offer on a home. Market conditions that exist when buyers outnumber homes for sale. GRM Gross Rent Multiplier Cbl,Cblh Cable/Hookup Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. POR, POR-S Porch/Screened ATT Attached Garage The "P" represents percent. LR Living Room It is in fact a real word (but that doesn't mean . 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. A database where real estate agents list properties for sale. CHMS Certified Home Marketing Specialist MULTI 3+ Car Garage Real estate terms to know when you've started house hunting. FMV Fair Market Value NOO Non-Owner Occupied Whether you're ready to buy your first home or just need an acronym refresher, keep this glossary handy. ELE Electric FEMA Federal Emergency Management Agency This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. OFF Off Street Parking The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. 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.. F/BSMT Fully finished basement The content on this site is not intended to provide legal, financial or real estate advice. PL -Swimming Pool A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. 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. 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. FSBO For Sale by Owner The action you just performed triggered the security solution. HWH Hot water heater Foyr Foyer AEK All electric kitchen Care starts with culture. Smart mortgage shoppers apply for at least two loans and use the loan estimates to determine which lender they want to use. 2/1 2 bedrooms / 1 bathrooms Read more about FHA loans here. PMI Private Mortgage Insurance HTUB Hot Tub VWS, VW, VU View or views It may sound charming, but a house that's described as having lots of character could look just plain weird in person. Back Bay + 1 1. Clap Clapboard Siding BBbb. 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. Privacy Policy Fixtures are a frequent subject of buyer and seller disputes. IGSP In-Ground Sprinkler SPLT Split-Level I havent seen you in forever. OBO Or Best Offer Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. FXR Fixer Upper A certain portion of the homes purchase price that a buyer must pay. And the real estate business is no different. DWF, DWAC Deep Water/Access If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. WDSTV Wood Burn Stove This claim is brought up by a party who is not the owner and restricts what an owner can do with the property. CBR Certified Buyer Representative 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. Disclosure: BobVila.com participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for publishers to earn fees by linking to Amazon.com and affiliated sites. SUN Sun Room Learn, Study these real estate terms when youre applying for a mortgage, Real estate terms you might hear when youve had your offer accepted, more about adjustable-rate mortgages here, The 12 Most Popular Vacation Towns for Home Shoppers. Click to reveal
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