Go now! Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. INLW In-Law Suite ASG Assessment Assessment. MAO Maximum Allowable Offer AJ Affidavit of Joint Tenant Deed. Bidding wars are common. Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. 2-LV : Two living levels. G-RNG Gas Range WBS Wood-Burning Stove Cont Contemporary OFF Off Street Parking CRE Creative Real Estate CRS. A home loan not guaranteed by a government agency, such as the FHA or the VA. Read more about conventional loans here. to see how much house you might be able to afford. When you boil it down to the basics, real estate has a simple meaning. WINDT Window Treatment Repairs. Updated from an earlier version on realtor.com. Zkratka ESG (z anglickho Environmental . But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. Privacy Policy. is part of the U.S. Department of Housing and Urban Development. Anne Miller lives in New York and writes real estate news and advice stories. It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. Read more about pre-qualification here. Bsmt Basement These structures can be both above and under the ground. MEIK Modern eat-in kitchen Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. Learn, A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. RELATED: What Does "TMI" Mean, and How Do You Use It? The act of paying off one loan by obtaining another. A full bathroom is a room with a toilet, a sink and a bathtub. WDSTV Wood Burn Stove Business Step 3: You then find tenants in 30-60 days to take over the two . DBA Doing Business As The Long and Short of It, The Ultimate Real Estate Glossary for Homebuyers. TRAN Transitional 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. In fact, there are probably more terms in the housing biz than just about anything short of neurosurgery. 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. BA; BTH : Bathroom. to cover taxes and insurance. The word listing is also used to refer to the for-sale home itself. CRE Commercial Real Estate 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. GRES Graduate Real Estate Society Cth Cathedral Ceiling VYL Vinyl A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country. EA exclusive agency These institutions underwrite as well as set home loan pricing in-house. LFT Loft Try our amortization calculator to learn more. Actv Active JTUB Jetted Tub A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. This is important, as identifying a property's class can predict how the asset might perform. 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. A mortgage with principal and interest payments that remain the same throughout the life of the loan because the interest rate does not change. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. YD Yard REL Related to Seller 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. MRSH Marsh APPLS Appliances IGSP In-Ground Sprinkler We select and review products independently. A property was withdrawn from the realty market. 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. REO Real Estate Owned 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. Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. 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. The document includes loan terms, monthly payment and closing costs. A concrete point at which buying a home makes more financial sense than renting one. GNMA Ginnie Mae or Government National Mortgage Association LOI Letter of Intent WHF Whole House Fan ATT Attached Garage A CMA is a report that shows prices of homes comparable to a subject home and that were recently sold, are currently on the market or were on the market but not sold within the listing period. The. FNCD YD Fenced Yard HBR Harbor He also works as a digital marketer for a regional e-commerce website. PAR Partially Fenced If thats your style, you're in luck. All Rights Reserved, Hey bb! If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. W/D Washer/Dryer Resources This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. So if the home in question isyour dream home, it may be worth offering upa deal that the seller cant refuse. PGS Propane BRRRR refinance example. 1 /8. When this happens, he or she risks the home heading into the foreclosure process. The owners bank must approve a lower listing price before the home can be sold. FAG Forced air gas NAT GS HT Natural gas heat When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. 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. Dbl Double glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. HDW, HWF, hdwd - This means there is hardwood flooring in the home. When you purchase through our links we may earn a commission. Be sure to read the fine print carefully. STA State OWN Owner Financing The CRS designation indicates a triple threat - on average, these agents have been in business three times longer, have three times the amount of transactions, and generate three times more sales revenue than the average . I/O Interest Only (loan) WF Waterfront Dsp Garbage Disposal Q POS Available for quick possession RAD Radiant Heat Learn more about refinancing here. Back Bay. A buyers final inspection of a home before closing. Learn more about down payments here. OVER Oversized Garage Home affordability takes into account your income, down payment, and monthly debts. What Is a Short Sale? AEK All electric kitchen Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. TEN Tennis Court Your IP: A lien is any legal claim upon a property for a debt or a non-monetary interest in the property. You can use BB to mean basketball, especially in internet communities dedicated to the sport. A security deposit made by the buyer to assure the seller of his or her intent to purchase. 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. If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. Look for this accreditation or something similar when shopping for a home inspector. ARM Adjustable Rate Mortgage 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. Care starts with culture. NNN Triple Net Lease 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. The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). LTV Loan to Value A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. MLS multiple listing service Clus Cluster RPAC Realtors Political Action Committee CAP Capitalization A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. The amount of the loan divided by the price of the house. DOT Deed of Trust A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. WLKIN Walk-in Closet One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. Miscellaneous. GRMET KIT, GRMT KIT Gourmet kitchen An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers.