what does bb mean in real estatewandsworth parking permit zones

LPOA Limited Power of Attorney Related:12 Things Realtors Look For in Homes of Their Own. NBHD Neighborhood Cent h/a Central Heat&Air BOT Boat Slip Home A percentage of the homes value owned by the homeowner. NNN Triple Net Lease ALM Aluminum Siding There is no MLS covering the whole country. A combination of loans bundled to avoid private mortgage insurance. A/G PL : Above-ground swimming pool. Not all products and services are available in all states. Before you make an offer, call on an excellent inspector who can clearly explain the home's pain points. This list of real estate investing abbreviations is useful for real estate brokers. 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 . MSN Masonry 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. No purchase is necessary to view U.S. That could mean the seller is still open to accepting an offer, so its worth touching base if your curiosity is piqued. Your IP: AJ Affidavit of Joint Tenant Deed. How to use real estate in a sentence. The status will show as pending until the closing. At Truist, our purpose is to inspire and build better lives and communities. TIL Truth In Lending, A/G PL Above-ground Pool BA Bathroom 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. A clause or addendum to a real estate contract or offer that states a buyer is willing to raise his or her offer price to a predetermined amount if the seller receives a higher competing offer for the property. A property that has come back on the marketafter a pending sale. 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. An origination fee is not a single fee. We select and review products independently. 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. It's a piece of land and the property - such as a house, office building, apartment, strip center or warehouse - that sits on it. What Does BB Mean, and How Do I Use It? WAR Warranty Plan This abbreviation is a shorthand way of showing your affection to your partner. Most lenders will require title insurance to protect their interests should there be outstanding liens on the property securing their security interest. "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 . Be sure to read the fine print carefully. Learn more about foreclosure here. SD/W Storm Doors & Windows If you see a bathroom or kitchen described as vintage, that means theyre old. PRV, PVCY FENCE Privacy Fence It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. FAG Forced air gas All rights reserved. CFan Ceiling Fan Learn more about refinancing here. Addendum to Purchase Agreement COVID-19 EVENT EXTENSION, AA Public Schools - Attendance Area by Street directory, Presenting and Negotiating Multiple Offers, Washtenaw County Resources & Millage Rates, How to Pick the Best Home Inspectors and Appraisers, P35C25 (3.5% offered on the first 100K, 2.5% offered after $100,000), 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). Keep this five-part guide handy youll be fluent in the language of home buying before you know it. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. 1 /8. F-bmt Finished Basement Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. Bidding wars are common. VWS, VW, VU View or views Click to reveal 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. A security deposit made by the buyer to assure the seller of his or her intent to purchase. SMB Split Master Bedroom Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. POR, POR-S Porch/Screened This website is using a security service to protect itself from online attacks. Translation: This home is small. BA Bath A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Contingency:A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. A house located in a quiet location may be slightly off the beaten trackor, it may be out-and-out secluded. DhkpP Dryer Hookup That doesnt mean that its a done deal by any means, however (more on that next). Prepaid interest owed at closing, with one point representing 1% of the loan. If they were not used, the ads for a home could get quite lengthy. BA; BTH : Bathroom. FM RM Family Room OFC Office/Study SFH Single Family House 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. Related:9 Ways Your Neighbors Can Screw Up Your Home Sale. Title Records Corp.160 Greentree DriveDover, DE 199041-302-269-3942office@ustitlerecords.com, #ustitlerecords #ustitlerecords #ustitlerecords. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. Look for this accreditation or something similar when shopping for a home inspector. Fixtures are a frequent subject of buyer and seller disputes. 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. NGS Natural Gas A minimum requirement is often dictated by the loan type. Its a set of lender-specific fees that are part of your costs when closing a mortgage loan. 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. When you boil it down to the basics, real estate has a simple meaning. Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. Repairs. An encumbrance can create a cloud on the title of a real property. Typically, putting away 5% of the rent . A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country. BB Real Estate Abbreviation. Canadian Real Estate Association, the national association for Canada. SPC Drive parking spaces OA Owner Agent WIC Walk-in closet, ARV After-Repaired Value You may want the retreat, but ask yourself if you're truly ready for all it entails. These abbreviations are typically written in all capital letters. Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. FFE furniture, fixture, and equipment Deco Decorative Fence 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. The "P" represents percent. PWDR RM Powder room or half bath Cer Ceramic Tile 2023 LoveToKnow Media. FCRA Fair Credit Reporting Act 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. All Rights Reserved. Related:The Best 10 Plants to Grow for Backyard Privacy. Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. DTI Debt to Income Ratio PL -Swimming Pool An MLS allows brokers to see one another's listings of. PERM Perm Attic Stairs LOC Line of Credit BKPORCH Back Porch Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. 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. Learn, A home loan not guaranteed by a government agency, such as the FHA or the VA. Read, A certain portion of the homes purchase price that a buyer must pay. For listings in Canada, the trademarks REALTOR, REALTORS, and the REALTOR logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. GARD Garden Read, A property repossessed by a bank when the owner fails to make mortgage payments. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. PILE Pilings BBbb. MAR Marble Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. 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. Windows 11: How Much RAM Can Your PC Have? PITI Principal, Interest, Taxes and Insurance FDR/DR Dining room or a formal dining room Certified Residential Specialist, a designation awarded by the Council of Residential Specialists. Fha Forced Hot Air PL, SP, S/P Swimming pool FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation Try our affordability calculator to see how much house you might be able to afford. Back Bay + 1 1. SKY Skylights This means that aproperty is currently on the market and available for sale. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. BB. 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). All Rights Reserved, Hey bb! Try. OFF Off Street Parking WBFP Wood Burning Fireplace G-RNG Gas Range NYSAR New York State Association of Realtors A minimum requirement is often dictated by the loan type. OBO Or Best Offer 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. DBA Doing Business As CRT. HBR Harbor GLFP Gas log fire place SPDED Special Warranty Deed Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. FSBO For Sale By Owner The meaning of REAL ESTATE is property in buildings and land. Business and Market conditions that exist when homes for sale outnumber buyers. CCR Conditions, Covenants, and Restrictions Whether you are looking at abbreviations or acronyms for real estate terms, be sure you clearly understand what they mean when referring to a specific piece of real estate. Read, A ratio that compares a home buyers expenses to gross income. TRAD Traditional Try our debt-to-income calculator to learn more. GMT Kitchen Gourmet kitchen One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. Cap rates can provide valuable insight into a property. CLTV Combined Loan To Value 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. Investors will also want to consider the return on investment (ROI), internal rate of return (IRR . A portion of your monthly payment goes into the. PMP Well Pump 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. Bung Bungalow WDSTV Wood Burn Stove Clap Clapboard Siding Buyers should budget for an amount that is 2% to 5% of the homes purchase price. How-To Geek is where you turn when you want experts to explain technology. Fpgas Gas Fireplace 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. REL Related to Seller The difference between the two is usually fairly . The. to cover taxes and insurance. The document includes loan terms, monthly payment and closing costs. SMP Sump Pump A three-quarter bathroom has a toilet, a sink and a shower. Both words imply motion, but the difference may b. Defenestration. Contact Us 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. A contingent statusmeans that the seller has accepted an offer and the home is under contract. Contingent vs. under contract? Real property is immovable property - its land and anything attached to the land. RTO Rent to Own Typically, most consumers mortgage interest rate is going to be higher than the prime rate. REIA Real Estate Investors Association BB Baseboard Heat 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. They charge dues used to maintain common areas. 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). A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nations housing markets. If youre going to use BB in a platonic way, then you can get away with simply inserting it in a casual text. POA Power of Attorney P&S Purchase and sale OVER Oversized Garage LRG Large NOO Non-Owner Occupied OWN Owner Financing AEK All electric kitchen Crk Creek The ratio compares the borrowers monthly debt payments to gross income. Care starts with culture. The trademarks MLS, Multiple Listing Service and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. 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. He's invested in internet culture, social media, and how people interact with the web. SFR Single Family Residence SPLT Split-Level DWF, DWAC Deep Water/Access Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. HPWA Water/Air Ht Pump DCR, DSCR, DSR Debt Service Coverage Ratio I havent seen you in forever. Best for: Buyer's agents looking to separate themselves from the rest of the field. Other internet-specific definitions for BB include bye-bye, a largely defunct acronym that was more common in the early days of the internet. If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and financial abbreviations youll see. A three-page document sent to an applicant three days after they apply for a home loan. When youre well-established enough to give each other pet names, you might want to try calling them baby or babe in person before you start calling them bb in chat. After the set time period your interest rate will change and so will your monthly payment. 3B/2B - three bedrooms and two bathrooms 2C - two-car garage A/C - air conditioning Appls - appliances Apt - apartment Ba - bathroom Br - bedroom CAC - central air conditioning Ch - central heat A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. Dsp Garbage Disposal BB Real Estate Abbreviation. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. OP Occupancy Permit LLP Limited Liability Partnership INGRD PL pool in ground pool DEDRS Deed Restrictions What is BB meaning in Real Estate Advertising? BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. 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. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). There are often additional notes with details that don't fit into the standard listing formula. WINDT Window Treatment The ratio compares the borrowers monthly debt payments to gross income. I want to receive exclusive email updates from YourDictionary. Tiny . STA State GAR, GR Garage 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. ASB Asbestos Siding GRES Graduate Real Estate Society There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. HDWD Hardwood PMI Private mortgage insurance Our advisors will help to answer your questions and share knowledge you never knew you needed to get you to your next goal, and the next. D/W Dishwasher Center for Real Estate Technology, a division of NAR focused on technology products, programs, and issues. AC Acre 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. What Is a Short Sale? RELO Relocation office glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. Before you go to a showing, do a little more research to see if the home has a local reputation, so you'll be prepared for any oddities you may encounter. Not all real estate agents are REALTORS. PRTL Partial FXR Fixer Upper Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. RELATED: How to Stream U.S. Sports for Free Online. If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. GRI Graduate Realtor Institute IRA Individual Retirement Account In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. A full bathroom is a room with a toilet, a sink and a bathtub. It should return to active soon enough, so its certainly worth piping up if youre smitten. 2. In the abbreviations, you may see differences in which letters get capitalized and which don't depending on the realtor/publication. 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. Typically, most consumers mortgage interest rate is going to be higher than the prime rate. WSH Washer Try, A fee, charged by a broker or lender, to underwrite and process a home loan application. Tiny houses are a trend, for sure. Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. The components of a monthly mortgage payment. HB Half Bath (toilet + sink) Fab pentrm:Fabulous pentroom, a room on top of the housebut under the roofthat has great views. 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. Used under license. When a home listing touts its custom features, take care. BALC Balcony STR On Street Parking MLS Multiple Listing Service The fascinating story behind . A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. CRS Certified Residential Specialist One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. UPF, UPR Upper floor Real estate is considered real property that includes land and anything permanently attached to it or built on it, whether natural or man-made. FR Family room 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative POA Power of Attorney 4B/2B:Four bedrooms and two bathrooms. MK Modern kitchen The MLS listing should give the basics about a home: the price, taxes, types of utilities, and square footage. WF Waterfront COCR or CCR Cash on Cash Return If its back on the market, theres a reason why the original sale fell through. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. UTLVL Utility Room Level STOR Assigned Storage W/D HKUP Washer/Dryer hookup Market conditions that exist when buyers outnumber homes for sale. If your offer is accepted as a backup, youre in line to go under contract if the first sale falls through. Large E-2 plan:This is one of several floor plans available in a specific building. TRAN Transitional FHA Federal Housing Administration 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. PVT Private AMO Accredited Management Organization Chn Chain Link Fence Check out our explainers on TMI, LFG, and SRSLY and expand your web vocabulary. Real estate abbreviations are important to save time and money. You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. ASG Assessment Assessment. OFC Office JV Joint Venture Real estate terms to know when you've started house hunting. Cth Cathedral Ceiling Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. KIT, KT Kitchen We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. Fixture:Anything of value that is permanently attached to or a part of real property. Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. 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. Brokerage. 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. 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. Maximum loan amounts can vary by county. Abbreviations on the list may have capitalization variations. Learn, The act of paying off one loan by obtaining another. It's anything that can be subject to ownership, except land. GRI Graduate REALTOR Institute The seller has an agreed-upon contract with the potential buyer. A mortgage with principal and interest payments that remain the same throughout the life of the loan because the interest rate does not change. 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. ASM Assumptions INLW In-Law Suite Crwl Crawl Space PITI Principal, Interest, Taxes, and Insurance The action you just performed triggered the security solution. TRC Trash Compactor PUD Planned Unit Development Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. FDIC Federal Deposit Insurance Corporation 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. Those real estate terms and definitions should give you a good start when it comes to understanding your real estate agent and the listings they . But if you want to hang on to your cash and exercise some self-sufficiency, check out these clever products that solve a million and one little problems around the house. PROP HT Propane Heat New real estate investors may wonder what the terms Class A, B, C, and D property mean. MAO Maximum Allowable Offer 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. That could be good news, if you're on a strict budget and are open to purchasing a time-intensive starter house. INT Intercom UNO Unit Number Cbl,Cblh Cable/Hookup PCF Price to Cash Flow (ratio) MCOA Min $ on Assumption BR Bedroom ATFN Attic Fan FML Formal All of these abbreviations are commonly used to describe the features of a house or commercial property. Margaret Heidenry is a writer living in Brooklyn, NY. W/W CRPT Wall To Wall Carpet One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. CBR Certified Buyer Representative LR Living Room This means the propertys ownersare actively taking backup offers in case the first one falls through. Perhaps the residential block is filled with old or rundown properties, with a few newly renovated homes sprinkled throughout. A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. IGSP In-Ground Sprinkler Each lending institution sets its own prime rate. Read, 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. MIC Mint Condition (like new or new) ROI Return On Investment

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