what does bb mean in real estate

CRB Certified Real Estate Broker And the real estate business is no different. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. Organizations can include local governments, utility companies, and homeowners associations. U/G SPRK Underground Sprinkler 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. There are often additional notes with details that don't fit into the standard listing formula. Anne Miller lives in New York and writes real estate news and advice stories. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. PICK Picket Fence 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. Paying points, which are tax deductible, will lower the monthly mortgage payment. This is important, as identifying a property's class can predict how the asset might perform. CH Central heat TXS Taxes A ratio that compares a home buyers expenses to gross income. So if the home in question isyour dream home, it may be worth offering upa deal that the seller cant refuse. 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. A licensed professional who works on behalf of the buyer to secure financing through a bank or other lending institution. Det Detached Garage MO Month IGSP In-Ground Sprinkler LRG Large Foyr Foyer Before you jump on a house with a "too good to be true" price, you need to understand how the short sale process works and connect with your real estate agent for more details. Imagine you're leasing a 1,000-square-foot office space with a base rental rate of. BA; BTH : Bathroom. F/BSMT Fully finished basement OWN Owner Financing UTRM Utility Room POR, POR-S Porch/Screened DCR, DSCR, DSR Debt Service Coverage Ratio Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization GAR, GR Garage 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. In-law potl:Potential for a separate apartment, subject to local zoning restrictions. Learn more about foreclosure here. Dry Clothes Dryer Investment advisory and trust services are offered through Northwestern Mutual Wealth Management Company (NMWMC), Milwaukee, WI, a subsidiary of NM and a federal savings bank. What sounds impressive on paper may look less appealing in person. 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.. JTUB Jetted Tub O/F Owner Finance Terms Of Use 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. DK Deck A concrete point at which buying a home makes more financial sense than renting one. When this happens, he or she risks the home heading into the foreclosure process. The base rate is set by the Federal Reserve and then customized per borrower, based on credit score, down payment, property type and points the buyer pays to lower the rate. OFF Off Street Parking BB Baseboard Heat BLT Built-in However, the widespread use of BB started in the 2010s, with the rise of smartphones and chat apps becoming the primary form of communication between teenagers. WINDT Window Treatment REIA Real Estate Investors Association Translation: This home is small. IRA Individual Retirement Account They provide clues to what is included in the purchase price. One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. 4B/2B: Four bedrooms and two bathrooms. LR with Fplc? HOA Homeowners association Related:18 Big Storage Ideas to Steal from Tiny Homes. So if you adore what you see in thelisting, it certainly canthurt to inquire. You might expect an up-and-coming neighborhood to be artsy and hip but that's not always the case. Related:9 Ways Your Neighbors Can Screw Up Your Home Sale. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. Check out our explainers on TMI, LFG, and SRSLY and expand your web vocabulary. To meet client needs, to empower teammates, and to lift up communities. What Is a Short Sale? Best for: Buyer's agents looking to separate themselves from the rest of the field. BB Real Estate Abbreviation. ASM Assumptions All rights reserved. NOO Non-Owner Occupied 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. Learn more about HOAs here. The "P" represents percent. Please switch to a supported browser or download one of our Mobile Apps. 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. PWDR RM Powder room or half bath LFT Loft CPM Certified Property Manager AC Acre Step 3: You then find tenants in 30-60 days to take over the two . Closing costs are generally paid through escrow. If youre going to use BB in a platonic way, then you can get away with simply inserting it in a casual text. PRTL Partial All Rights Reserved, Hey bb! 4B/2B:Four bedrooms and two bathrooms. There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. MEIK Modern eat-in kitchen A three-quarter bathroom has a toilet, a sink and a shower. SKY Skylights Have questions about your home financingpaperwork? 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. The owners bank must approve a lower listing price before the home can be sold. NNN Triple Net Lease Related:10 Signs That Fixer-Upper Might Be a Money Pit. RVR River ROI Return On Investment SAT Satellite Dish CAC Central Air Conditioning The Federal Housing Administration is part of the U.S. Department of Housing and Urban Development. 2023 LoveToKnow Media. Home affordability takes into account your income, down payment, and monthly debts. NYSAR New York State Association of Realtors Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. All of these abbreviations are commonly used to describe the features of a house or commercial property. 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. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. PAR Partially Fenced MAO Maximum Allowable Offer A property that has come back on the marketafter a pending sale. Contingent vs. under contract? Smart mortgage shoppers apply for at least two loans and use the loan estimates to determine which lender they want to use. You can email the site owner to let them know you were blocked. An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. Cozy Charm. 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. 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. Bring vs. Take. G/A Garage, Attached You are not obligated to accept the loan just because you received a loan estimate. Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. This abbreviation is a shorthand way of showing your affection to your partner. Actv Active CNS Certified Negotiation Specialist Read, A ratio that compares a home buyers expenses to gross income. Dr -Dining Room A buyers final inspection of a home before closing. CMA:Comparative market analysis or competitive market analysis. A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home. PUD Planned Unit Development IRR Internal Rate of Return The number of days a property listing is considered active. FM RM Family Room Home Title Records Corp.160 Greentree DriveDover, DE 199041-302-269-3942office@ustitlerecords.com, #ustitlerecords #ustitlerecords #ustitlerecords. PMP Well Pump Cnl Canal PMI Private mortgage insurance He's invested in internet culture, social media, and how people interact with the web. WDSTV Wood-Burning Stove SFR Single Family Residence PRV, PVCY FENCE Privacy Fence Go now! W/D Washer/Dryer 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. I havent seen you in forever. I/O Interest Only (loan) REALTOR:Areal estate broker or sales associate who is a member of the National Association of REALTORS. DOT Deed of Trust A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. ARI Articles of Incorporation Notice, certificate. Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. EA exclusive agency A database where real estate agents list properties for sale. All abbreviations on this list are typically written in all capital letters. Clap Clapboard Siding Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). POA Power of Attorney 4 Misconceptions Buyers and Sellers Have About the Housing Market, 10 Hottest Housing Markets of 2023, and What to Know if Youre Shopping in One, 13 Home-Buying Myths to Unlearn Right Now, 10 Hottest Housing Markets of 2023, and What to Know if You're Shopping in One, Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. Cer Ceramic Tile CRE Commercial Real Estate Center for Real Estate Technology, a division of NAR focused on technology products, programs, and issues. Read, A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. PRQ Parquet That doesnt mean that its a done deal by any means, however (more on that next). There is no MLS covering the whole country. 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. JV Joint Venture Cdrcl Cedar Closet Dsp Garbage Disposal Lo dues:Low homeowners association dues. Maximum loan amounts can vary by county. A state in which an escrow agent is responsible for closing. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. 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. One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. What Does FS Mean, and How Do You Use It? BR Bedroom HDWD Hardwood RELATED: How to Stream U.S. Sports for Free Online. Related:7 Features That Define the New American Home. The owners bank must approve a lower listing price before the home can be sold. F-bmt Finished Basement NAR National Association of Realtors SUN Sun Room How-To Geek is where you turn when you want experts to explain technology. GLFP Gas log fire place Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. 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. A fee charged to borrowers who make a down payment that is less than 20% of the homes value. Hi ceils - This is an abbreviation for "high ceilings.". There are five main categories of real estate.

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