lots of abbreviations that you may come across when looking for a home or
reading an ad about a specific house, but here is a list of some that you may
4B/2B -- four bedrooms and two
bathrooms. "Bedroom" usually means a sleeping area with a window and
a closet, but the definition varies in different places. A "full
bathroom" is a room with a toilet, a sink and a bathtub. A
"three-quarter bathroom" has a toilet, a sink and a shower. A
"half bathroom" or powder room has only a toilet and a sink.
assum. fin. -- assumable financing
closing costs -- the entire package
of miscellaneous expenses paid by the buyer and the seller when the real estate
deal closes. These costs include the brokerage commission, mortgage-related
fees, escrow or attorney's settlement charges, transfer taxes, recording fees,
title insurance and so on. Closing costs are generally paid through escrow.
CMA -- comparative market analysis
or competitive market analysis. A CMA is a report that shows prices of homes
that are 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
contingency -- a provision of an
agreement that keeps the agreement from being fully legally binding until a
certain condition is met. One example is a buyer's contractual right to obtain
a professional home inspection before purchasing the home.
dk – deck
expansion pot'l -- expansion potential mean
that there's extra space on the lot or the possibility of adding a room or even
an upper level, subject to local zoning restrictions.
fab pentrm -- fabulous pentroom, a
room on top (but under the roof) that has great views
FDR -- formal dining room
fixture -- anything of value that is
permanently attached to or a part of real property. (Real estate is legally
called "real property," while movables are called "personal
property.") Examples of fixtures include installed wall-to-wall carpeting,
light fixtures, window coverings, landscaping and so on. Fixtures are a
frequent subject of buyer and seller disputes. When in doubt, get it in
frplc, fplc, FP -- fireplace
gar -- garage (garden is usually
abbreviated as "gard.")
grmet kit -- gourmet kitchen
HDW, HWF, Hdwd -- hardwood floors
hi ceils -- high ceilings
in-law potential -- potential for a separate apartment, subject to local zoning
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 owner's home. The word "listing" is also
used to refer to the for-sale home itself. A home being sold by the owner without
a real estate agent isn't a "listing."
lo dues -- low homeowner's
association dues. Be sure to find out how "low" the dues are compared
to other dues in the area.
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
lsd pkg. -- leased parking area. May
come with additional cost.
MLS -- Multiple Listing Service. An
MLS is an organization that collects, compiles and distributes information
about homes listed for sale by its members, who are real estate brokers.
Membership isn't open to the general public, although selected MLS data may be
sold to real estate listings Web sites. MLS's are local or regional. There is
no MLS covering the whole country.
pot'l – potential
pvt -- private
pwdr rm -- half bathroom or powder
REALTOR® -- a real estate broker or
sales associate who is a member of the National Association of REALTORS®. Like
me! :) *NOTE: Not all real estate agents
title insurance -- an insurance
policy that protects a lender's or owner's interest in real property from
assorted types of unexpected or fraudulent claims of ownership. It's customary
for the buyer to pay for the lender's title insurance policy.
upr -- upper floor
vw, vu, vws, vus -- view(s)
I hope these are helpful to you! If there are any others that you would like to
ask about, please contact me at email@example.com !