what does bb mean in real estate what does bb mean in real estate

A home being sold by the owner (FSBO) without a real estate agent isnt a listing.. GAR, GR Garage SRES Senior Real Estate Specialist, Additional Resources: Large E-2 plan:This is one of several floor plans available in a specific building. 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. Since many phrases can be shortened to BB, this acronym might refer to other things online. HB Half Bath (toilet + sink) CHMS Certified Home Marketing Specialist Fab pentrm:Fabulous pentroom, a room on top of the housebut under the roofthat has great views. Learn more about pre-approval here. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. PAT Patio 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. 27. FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation SPDED Special Warranty Deed TRAN Transitional Look for this accreditation or something similar when shopping for a home inspector. AG Agreement Agreement Comm. Read more about mortgage insurance. 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. HUD Housing and Urban Development Market conditions that exist when buyers outnumber homes for sale. Check out our glossary of frequently-used mortgage terms. ERS exclusive right to sell Cldsc Cul-de-sac Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. PERM Perm Attic Stairs Margaret Heidenry is a writer living in Brooklyn, NY. PULL Pull-Down Attic Stair Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. Cap rates can provide valuable insight into a property. Prices are often higher than average. SEW Sewer C/VAC Central vacuum To meet client needs, to empower teammates, and to lift up communities. 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. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. HRS Horses Allowed FFBR First Floor Bedroom These contingencies fall away as tasks are completed, saysMelanie Atkinson, a Realtor with Coldwell Banker Residential Real Estate in Tampa, FL. BA Bath W/D WD Washer and dryer RAD Radiant Heat Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. SN Senior Miscellaneous. GARB Garbage 67.211.219.14 Before you make an offer, call on an excellent inspector who can clearly explain the home's pain points. CLTV Combined Loan To Value Not all mortgages carry a prepayment penalty. POR, POR-S Porch/Screened DET Detached garage BR Bedroom The difference between the two is usually fairly . After all, custom upgrades (like any decor choice) reflect the taste of the previous owner, and may or may not be to your taste. Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. IRR Internal Rate of Return *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. ELV Elevator Not all mortgages. SKY Skylights 1C, 2C 1 or 2 car Garage CCR Conditions, Covenants, and Restrictions By submitting your email, you agree to the Terms of Use and Privacy Policy. REF Refrigerator UTLVL Utility Room Level If you see a bathroom or kitchen described as vintage, that means theyre old. 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. Real estate owned (REO) properties are homes that have fallen under the ownership of a mortgage lender or investor, typically because the property failed to sell at auction. MBA Master Bedroom w/Bath DOS Due On Sale Clause One example is a buyers contractual right to obtain a professional home inspection before purchasing the home. 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. GRNO Ground Maintenance MLS Multiple Listing Service SEC Security System LTV loan to value LOC Line of Credit A portion of your monthly payment goes into the. HDWD Hardwood Crwl Crawl Space It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. SHOP Workshop LRG Large A lien is any legal claim upon a property for a debt or a non-monetary interest in the property. Read, 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. LR with Fplc? That happens through real care to make things better. BBbb. 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. Brokerage. So if you adore what you see in thelisting, it certainly canthurt to inquire. FM RM Family Room Try our debt-to-income calculator to learn more. Learn more about refinancing here. P&S Purchase and Sale Maximum loan amounts can vary by county. HW Hot Water PWDR RM Powder room or half bath This website is using a security service to protect itself from online attacks. 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. This claim belongs to a third party, who can either be an organization or an individual. Cozy Charm. SEC SYS Security System Read, A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. Our belief in better is at the core of everything that we do, every day. Vann Vicente has been a technology writer for four years, with a focus on explainers geared towards average consumers. An origination fee is not a single fee. If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. A fee charged to borrowers who make a down payment that is less than 20% of the homes value. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. An encumbrance can create a cloud on the title of a real property. Your IP: SAT Satellite Dish Property Records 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 government agency created by the National Housing Act of 1934 that insures loans made by private lenders. GRT RM Great room 4/3 4 bedrooms / 3 bathrooms Learn more about adjustable-rate mortgages here. Often, the listing will indicate which rooms have hardwood flooring. Sometimesa property will continue to be shown when it is contingent, and the seller may entertaina backup offer. Fha Forced Hot Air Go now! WDSTV Wood Burn Stove VWS, VW, VU View or views Lenders reward lower LTV ratios. 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. You might expect an up-and-coming neighborhood to be artsy and hip but that's not always the case. LLC Limited Liability Company Windows 11: How Much RAM Can Your PC Have? E Rng Electric Range Each lending institution sets its own prime rate. Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. AMO Accredited Management Organization Usually . A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. OA Owner Agent NGS Natural Gas Learn, The act of paying off one loan by obtaining another. On online spaces with younger users, BB might also stand for bad b****, a term of endearment for women with a dominating personality. U/G SPRK Underground Sprinkler TXS Taxes LFT Loft PVT Private Cen Central Air Dry Clothes Dryer The number of days a property listing is considered active. Individuals could include neighbors or other people who have a right of way. Related:18 Big Storage Ideas to Steal from Tiny Homes. 3/4 Bath toilet + sink + shower or tub The. EA exclusive agency What Does FS Mean, and How Do You Use It? EMC Earnest money contract HVAC heating, ventilation and air conditioning HWH Hot water heater Step 2: Through your cost estimation, you figure out that $30,000 of investment will bring the property to a rental-ready state over the next 4 months. 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. 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. MK Modern kitchen Fees imposed by the state, county or municipality on transfer of title. FPLC, FP, FRPLC Fireplace SPAC Spacious Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. F/BSMT Fully finished basement WTR Water VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization HPWA Water/Air Ht Pump Prepaid interest owed at closing, with one point representing 1% of the loan. ATT Attached Garage A full bathroom is a room with a toilet, a sink and a bathtub. D/W Dishwasher The Real Estate Commission: How Much Are Realtor Fees? The New Outlook Is Opening Up to More People, Windows 11 Feature Updates Are Speeding Up, E-Win Champion Fabric Gaming Chair Review, Amazon Echo Dot With Clock (5th-gen) Review, Grelife 24in Oscillating Space Heater Review: Comfort and Functionality Combined, VCK Dual Filter Air Purifier Review: Affordable and Practical for Home or Office, LatticeWork Amber X Personal Cloud Storage Review: Backups Made Easy, Neat Bumblebee II Review: It's Good, It's Affordable, and It's Usually On Sale. LOI Letter of Intent Performance & security by Cloudflare. Related:The Best 10 Plants to Grow for Backyard Privacy. BB Baseboard Heat A concrete point at which buying a home makes more financial sense than renting one. property in buildings and land; space, capacity See the full definition . One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. A concrete point at which buying a home makes more financial sense than renting one. ABS Assessment / Bill of Sale Assessment, Mineral/Oil & Gas. 2/1 2 bedrooms / 1 bathrooms These costs include the brokerage commission, mortgage-related fees, escrow or attorneys settlement charges, transfer taxes, recording fees and title insurance. COCR or CCR Cash on Cash Return FMR Fair Market Rent Call it what you willjargon, shorthand, lingobut every industry, including the real estate world, has its own language, a collection of terms that are essential to understand if you hope to play ball. Example: P30 (3% offered) MYOB Mind Your Own Business O/F Owner Finance A database where real estate agents list properties for sale. PAR Partially Fenced Who doesnt get a thrill while browsing real estate onsites likeZillow or Trulia?Window-shopping for housesonlineis oneof the mostfun partsof the homebuying process. One loan covers 80% of the homes value, another loan covers 10% to 15% of the homes value, and the buyer contributes the remainder. 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 O/F Owner Finance CREA. and A state in which an escrow agent is responsible for closing. 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.