what does bb mean in real estate

Join 425,000 subscribers and get a daily digest of news, geek trivia, and our feature articles. Cth Cathedral Ceiling W/D Washer/Dryer Co je to ESG a co pro vs znamen? - Lexology There are five main categories of real estate. 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). Fees associated with the purchase of a home that are due at the end of the sales transaction. If you have the money to hire a handyman for every household woe, go ahead. While any seller can entertainbackup offers as a precautionary measure as long as this is made clear in the contract, this term most often crops up with short sales, since they can often fall through, and it can be helpful if a secondbuyer is waiting in the wings. Dk Deck Individuals could include neighbors or other people who have a right of way. STOR Assigned Storage So if you adore what you see in thelisting, it certainly canthurt to inquire. Sometimesa property will continue to be shown when it is contingent, and the seller may entertaina backup offer. FMR Fair Market Rent The action you just performed triggered the security solution. Typically, most consumers mortgage interest rate is going to be higher than the prime rate. Decoding an MLS Listing - Weichert Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. Exr Exercise Room Often, the listing will indicate which rooms have hardwood flooring. Learn more about adjustable-rate mortgages here. Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. A fee charged to borrowers who make a down payment that is less than 20% of the homes value. 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. BCH Beach One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. SLT Slate AC Acre Title Records Corp.160 Greentree DriveDover, DE 199041-302-269-3942office@ustitlerecords.com, #ustitlerecords #ustitlerecords #ustitlerecords. The meaning of REAL ESTATE is property in buildings and land. 2. MBA Master Bedroom w/Bath Cbl,Cblh Cable/Hookup Read more about pre-qualification here. FMV Fair Market Value How to use real estate in a sentence. RAD Radiant Heat BA Bath You are not obligated to accept the loan just because you received a loan estimate. Bring vs. Take. SKY Skylights AEK All electric kitchen WBS Wood-Burning Stove Imagine you're leasing a 1,000-square-foot office space with a base rental rate of. Cap rates can provide valuable insight into a property. Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). A loan estimate can help borrowers shop and compare costs of loans with lenders. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. 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. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Like, from the 50s. Fees imposed by the state, county or municipality on transfer of title. Click to reveal VWS, VW, VU View or views He's invested in internet culture, social media, and how people interact with the web. This is the most popular NAR official designation and is relatively easy to get and maintain. It may also give the breakdown of the number of floors, size of the rooms and their location within the home. A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. PGS Propane BB Real Estate Advertising Abbreviation Meaning - All Acronyms A property repossessed by a bank when the owner fails to make mortgage payments. Contingent vs. under contract? E Rng Electric Range SPC Drive parking spaces The components of a monthly mortgage payment. What Does "BB" Mean, and How Do I Use It? - How-To Geek 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. W/D WD Washer and dryer COF Cost of Funds AJ Affidavit of Joint Tenant Deed. 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. 2023 All Rights Reserved. GLF Golf Course SEC SYS Security System PRO Internet Professional You can email the site owner to let them know you were blocked. An FDR with a DK? FEMA Federal Emergency Management Agency An encumbrance is a claim that limits how a property owner can use their property. 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. . REC Recreation Room NAR National Association of Realtors A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. CCR Conditions, Covenants, and Restrictions IGSP In-Ground Sprinkler The status will show as pending until the closing. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. HUD Department of Housing and Urban Development CRS is a title awarded by the Council of Residential Specialists to only the top real estate agents, managers, and brokers. Crk Creek FM RM Family Room Cap Rate: Defined And Explained | Rocket Mortgage Read more about mortgage insurance. REF Refrigerator Our belief in better is at the core of everything that we do, every day. PMI Private Mortgage Insurance BKPORCH Back Porch GMT Kitchen Gourmet kitchen CRE Creative Real Estate Ann Arbor Area Board of REALTORS - MLS Compensation Codes MIC Mint Condition (like new or new) OWN Owner Financing KIT, KT Kitchen A lien is a security interest that can give a creditor the right to take possession of a property secured by a loan, such as a mortgage, when the borrower defaults on the loan obligations. 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. PRQ Parquet The seller has an agreed-upon contract with the potential buyer. Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. That could be good news, if you're on a strict budget and are open to purchasing a time-intensive starter house. 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. SMART Typically computer-controlled heating and cooling, alarms, lights etc. Organizations can include local governments, utility companies, and homeowners associations. Back Bay + 1 1. APPLS Appliances 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. Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. An encumbrance is a limit on how an owner can use real estate. FCRA Fair Credit Reporting Act A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Cloudflare Ray ID: 7a2835264c3fdd54 BKYD Backyard PRTL Partial FSBO For Sale By Owner UTCL Utility Closet HTUB Hot Tub The. HB Half Bath (toilet + sink) NBHD Neighborhood HBR Harbor 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. SUN Sun Room Not all products and services are available in all states. GAROP Garage Door Opener DLM Seller Disclaimer PWDR RM Powder room or half bath If you wish to report an issue or seek an accommodation, please let us know. It is for information purposes only, and any links provided are for the users convenience. An MLS allows brokers to see one another's listings of. CDS Cul de sac Learn more about foreclosure here. PERM Perm Attic Stairs HDW, HWF, hdwd - This means there is hardwood flooring in the home. Not all real estate agents are REALTORS. I/O Interest Only (loan) A property that has come back on the marketafter a pending sale. POR, POR-S Porch/Screened A/C Air Conditioning HP Heat Pump Look for this accreditation or something similar when shopping for a home inspector. CRT. CH Central heat G/A Garage, Attached Try our debt-to-income calculator to learn more. This abbreviation is a shorthand way of showing your affection to your partner. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. HOA Homeowners association NONQ Non-Qualifying Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. Bonus information may be placed in "Other" field. ABS Assessment / Bill of Sale Assessment, Mineral/Oil & Gas. VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization LLP Limited Liability Partnership There are also a few other cultural definitions for BB. SFR Single Family Residence Related:12 Ideas to Steal from Vintage Kitchens. RVR River Bidding wars are common. Performance & security by Cloudflare. All of these abbreviations are commonly used to describe the features of a house or commercial property. SWR Sewer 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. A not-for-profit professional association that sets and promotes standards for property inspections. PAN Pantry A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. Try our affordability calculator to see how much house you might be able to afford. FAG Forced air gas Fixture:Anything of value that is permanently attached to or a part of real property. The owners bank must approve a lower listing price before the home can be sold. MLS - Multiple Listing Service; database of real estate for sale, Smart -a computer controls some electronic devices like heating, alarms, and lights, CCIM Certified Commercial Investment Member, PITI principal, interest, taxes and insurance, CCR conditions, covenants, and restrictions, ACRP - Association of Commercial Real Estate Professionals, CHMS Certified Home Marketing Specialist, CLHMS Certified Luxury Home Marketing Specialist, FDIC Federal Deposit Insurance Corporation, FEMA Federal Emergency Management Agency, FHLMC Freddie Mac (Federal Home Loan Mortgage Corporation), GNMA Ginnie Mae (Government National Mortgage Association), REALTOR Member of the National Association of Realtors. Allow us to clear things up, by explaining what these things really mean in plain old English. Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. Tiny houses are a trend, for sure. Read, A property repossessed by a bank when the owner fails to make mortgage payments. L/O Lease Option What Does 'NNN' Mean in Commercial Real Estate? Each lending institution sets its own prime rate. AMO Accredited Management Organization W/D HKUP Washer/Dryer hookup HML Hard Money Lender Read more about escalation clauses and making an offer on a home. Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. It may sound charming, but a house that's described as having lots of character could look just plain weird in person. D/D Dishwasher and a garbage disposal They charge dues used to maintain common areas. The propertylisting with the agent has expired and is no longer active, usually because it didnt sell, says Matthews. What is BB meaning in Real Estate? Cozy Charm. BA; BTH : Bathroom. HW Hot Water If they were not used, the ads for a home could get quite lengthy. When you boil it down to the basics, real estate has a simple meaning. These costs include the brokerage commission, mortgage-related fees, escrow or attorneys settlement charges, transfer taxes, recording fees and title insurance. Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. But if thats not what youre looking for, keep shopping. Step 3: You then find tenants in 30-60 days to take over the two . Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. Read our stress-free guide to getting a mortgage. This type of limit can also allow the property buyer to back out of the sale and possibly seek damages in . DCR, DSCR, DSR Debt Service Coverage Ratio These contingencies fall away as tasks are completed, saysMelanie Atkinson, a Realtor with Coldwell Banker Residential Real Estate in Tampa, FL. MLS:Multiple Listing Service. When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. BB Real Estate Abbreviation Meaning - All Acronyms SFH Single Family House to cover taxes and insurance. These abbreviations are typically written in all capital letters. Fpgas Gas Fireplace 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. Real Estate Abbreviations and Commonly Used Acronyms - U.S. Title Records Active This means that a property is currently on the market and available for sale. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. So if the home in question isyour dream home, it may be worth offering upa deal that the seller cant refuse. Translation: This home is small. What Is a Short Sale? Chn Chain Link Fence Vann Vicente has been a technology writer for four years, with a focus on explainers geared towards average consumers. UTRM Utility Room Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). Q POS Available for quick possession WLKIN Walk-in Closet This browser is no longer supported. CAC Central Air Conditioning C-fan Ceiling Fan CCR Conditions, Covenants, and Restrictions We select and review products independently. Keep this five-part guide handy youll be fluent in the language of home buying before you know it. Before you start calling someone BB, you might need to establish ground rules. LOI Letter of Intent PICK Picket Fence It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. BALC Balcony DET Detached garage GRMET KIT, GRMT KIT Gourmet kitchen Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. Encumbrance, Defined And Explained | Rocket Mortgage LA Living area A multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. A security deposit made by the buyer to assure the seller of his or her intent to purchase. Learn more about pre-approval here. O/F Owner Finance NOO Non-Owner Occupied 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. This means the seller has an accepted offer and an executed contract, and all the contingencies have been met, so the home is pending sale. Not all Northwestern Mutual representatives are advisors. Repairs. Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. When you purchase through our links we may earn a commission. Refund Policy, U.S. ATT Attached Garage 2-LV : Two living levels. AG Agreement Agreement Comm. SPAC Spacious 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. Updated from an earlier version on realtor.com. FNCD YD Fenced Yard Cer Ceramic Tile 4/3 4 bedrooms / 3 bathrooms The Real Estate Commission: How Much Are Realtor Fees? RV PRKG RV Parking The ratio compares the borrowers monthly debt payments to gross income. Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. Here are a few examples of BB in action: Do you want to learn more internet slang terms? NNN Triple Net Lease What is BB meaning in Real Estate Advertising? MAO Maximum Allowable Offer Related:12 Things Realtors Look For in Homes of Their Own. Powered by webmasterWP.com. HVAC heating, ventilation and air conditioning He also works as a digital marketer for a regional e-commerce website. UNO Unit Number 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. All Rights Reserved. CPM Certified Property Manager RDR Radiator Copyright 2022 Ann Arbor Area Board of REALTORS. 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. WTR PD Water paid PRV, PVCY FENCE Privacy Fence SD/W Storm Doors & Windows Translation: This home is small. What sounds impressive on paper may look less appealing in person. Home affordability takes into account your income, down payment, and monthly debts. These abbreviations are typically written in all capital letters. Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. POA Power of Attorney 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. Learn more about short sales here. GARD Garden RTO Rent To Own 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). Real Estate Terms & Lingo | Terminology, Definitions & Abbreviations CAP Capitalization 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. When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below. ROI Return On Investment Read more about closing costs here. Zillow, Inc. holds real estate brokerage licenses in multiple states. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. NAR National Association of Realtors The sale of a home by an owner who owes more on the home than its worth. Refinancing is generally done to secure better loan terms, such as a lower interest rate. It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. Your IP: These structures can be both above and under the ground. PL, SP, S/P Swimming pool A short sale is the sale of a real estate property for which the lender is willing to accept less than the amount still owed on the mortgage. 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. The owners bank must approve a lower listing price before the home can be sold. GNMA Ginnie Mae or Government National Mortgage Association Center for Real Estate Technology, a division of NAR focused on technology products, programs, and issues. Real property is immovable property - its land and anything attached to the land. Dr -Dining Room *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. EMC Earnest money contract Learn, A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. Real estate terms to know when you've started house hunting. CP Carport ARM Adjustable Rate Mortgage P&S Purchase and Sale W/W CRPT Wall To Wall Carpet A three-quarter bathroom has a toilet, a sink and a shower. LR with Fplc? Pro Forma Real Estate: Everything You Need to Know - RealWealth A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. Most real estate agents use similar abbreviations as part ofreal estate lingo, so once you get the jist, you can read any listing with confidence. 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. property in buildings and land; space, capacity See the full definition . A percentage of the homes value owned by the homeowner. Read more about back-end ratio here. SQ FT Square Feet Buying a Flipped House: Is It Right for You? The BRRRR method explained in 5 simple steps - Hemlane

The Challenge Spoilers Vevmo, Articles W