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

SD Security Deposit Repairs. At Truist, our purpose is to inspire and build better lives and communities. Crystal R. glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. BB. GLFP Gas log fire place 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 UTLVL Utility Room Level Cdrcl Cedar Closet BR Bedroom This type of limit can also allow the property buyer to back out of the sale and possibly seek damages in . SEC SYS Security System All Rights Reserved. A buyers final inspection of a home before closing. A property that has come back on the marketafter a pending sale. The governments legal claim against property when the homeowner neglects or fails to pay a tax debt. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. REALTOR Member of the National Association of Realtors E Rng Electric Range Since we launched in 2006, our articles have been read billions of times. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. Lenders reward lower LTV ratios. 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. While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. If its someone youre romantically interested in, you have to be in a relationship with them or in the process of courting them. 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. Cozy Charm. HOA Homeowners association SEC Security System DET Detached garage There are multiple reasons why homes become REO properties, the biggest one being that the home went into foreclosure. UNO Unit Number Fha Forced Hot Air This is the most popular NAR official designation and is relatively easy to get and maintain. APR Annual Percentage Rate 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. RTO Rent To Own Have questions about your home financingpaperwork? REAL ESTATE DEED ABBREVIATONS AND ACRONYMS. 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. Resources CHMS Certified Home Marketing Specialist REAL ESTATE DEED ABBREVIATONS AND ACRONYMS. APT Apartment SMART Typically computer-controlled heating and cooling, alarms, lights etc. A contingent statusmeans that the seller has accepted an offer and the home is under contract. DWF, DWAC Deep Water/Access Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. One who originates, sells, and services mortgage loans and resells them to secondary mortgage lenders such as Fannie Mae or Freddie Mac. 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. Check out our explainers on TMI, LFG, and SRSLY and expand your web vocabulary. F/BSMT Fully finished basement SPC Drive parking spaces Exr Exercise Room GAR, GR Garage Read more about FHA loans here. CCR Conditions, Covenants, and Restrictions Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. The fascinating story behind . VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization Banks, savings and loans, and credit unions. REO Real Estate Owned If its back on the market, theres a reason why the original sale fell through. Refinancing is generally done to secure better loan terms, such as a lower interest rate. A property was withdrawn from the realty market. This list of real estate investing abbreviations is useful for real estate brokers. CFD Contract for Deed APPLS Appliances SHNG Shingle FDIC Federal Deposit Insurance Corporation Read our stress-free guide to getting a mortgage. 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. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. FIN LL Finished lower level 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. The price of borrowing money. REC Recreation Room UTCL Utility Closet Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. AMO Accredited Management Organization MTG Mortgage Even though a sale is highly likely, some pending properties may still accept backups. Fees imposed by the state, county or municipality on transfer of title. Your IP: Often, the listing will indicate which rooms have hardwood flooring. END End Unit Sometimesa property will continue to be shown when it is contingent, and the seller may entertaina backup offer. Learn more about pre-approval here. FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation In the abbreviations, you may see differences in which letters get capitalized and which dont depending on the realtor/publication. What Does BB Mean, and How Do I Use It? CRE Commercial Real Estate Contingent vs. under contract? When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. 4/3 4 bedrooms / 3 bathrooms Here are a few examples of BB in action: Do you want to learn more internet slang terms? A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. County real estate and property records abbreviations and acronyms: AD Administrator's Deed Notice. Maximum loan amounts can vary by county. Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. Related:7 Features That Define the New American Home. 1 /8. BA; BTH : Bathroom. Chn Chain Link Fence YD Yard You might expect an up-and-coming neighborhood to be artsy and hip but that's not always the case. It is in fact a real word (but that doesn't mean . AST Assessment Lien Lien, JTL. P&S Purchase and sale Thats why when you read a real estate listing, you may end up scratching your head over a whole bunch of puzzling terms. It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. TIL Truth In Lending, A/G PL Above-ground Pool Privacy Policy 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 half bathroom or powder room has only a toilet and a sink. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. CNS Certified Negotiation Specialist The seller has an agreed-upon contract with the potential buyer. If you hang around social media circles and forums that talk about TV, BB might also stand for Big Brother, a prominent reality show franchise involving a group of strangers living together in the same house. A combination of loans bundled to avoid private mortgage insurance. Cent h/a Central Heat&Air Sign up for our weekly newsletters and get: By signing in, you agree to our Terms and Conditions 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. Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. CDS Cul de sac Cer Ceramic Tile BKPORCH Back Porch Typically, putting away 5% of the rent . A ratio that compares a home buyers expenses to gross income. ELE Electric 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. You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. A/C Air Conditioning AEK All electric kitchen GLF Golf Course Read, A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. TRAN Transitional SPAC Spacious PITI Principal, Interest, Taxes and Insurance Normally, a piece of property can be easily classified as either personal property or real property. MBA Master Bedroom w/Bath PL -Swimming Pool If you're still unclear what a shorthand is referring to, reach out to the listing agent. W/W CRPT Wall To Wall Carpet The owners bank must approve a lower listing price before the home can be sold. Prospective purchasers of an inn need to know exactly what they mean. *Based on Northwestern Mutual internal data, not applicable exclusively to disability insurance products. Care starts with culture. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. COF Cost of Funds An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. GRNO Ground Maintenance Tiny houses are a trend, for sure. Clus Cluster After the set time period your interest rate will change and so will your monthly payment. A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. Closing costs:All of themiscellaneous expenses paid by the buyer and the seller when the real estate deal closes. One example is a buyers contractual right to obtain a professional home inspection before purchasing the home. Not all mortgages carry a prepayment penalty. If thats your style, you're in luck. RAD Radiant Heat A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. 7 meanings of BB abbreviation related to Real Estate: Real Estate. BB Real Estate Abbreviation. LTV Loan to Value You can email the site owner to let them know you were blocked. Refinancing is generally done to secure better loan terms, such as a lower interest rate. These abbreviations are typically written in all capital letters. Or comparable sales, are homes in a given area that have sold within the past several months that a real estate agent uses to determine a homes value. Go now! NYSAR New York State Association of Realtors There is no MLS covering the whole country. Hi ceils - This is an abbreviation for "high ceilings.". HBR Harbor HVAC heating, ventilation and air conditioning But if thats not what youre looking for, keep shopping. A minimum requirement is often dictated by the loan type. TOWN Town House O/F Owner Finance Read more about the Buy-Rent Breakeven Horizon here. The act of paying off one loan by obtaining another. Col Colonial One loan covers 80% of the homes value, another loan covers 10% to 15% of the homes value, and the buyer contributes the remainder. Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. Each lending institution sets its own prime rate. BALC Balcony 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.. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. The sale of a home by an owner who owes more on the home than its worth. If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and financial abbreviations youll see. CLTV Combined Loan To Value I want to receive exclusive email updates from YourDictionary. 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. Usually . 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. PWDR RM Powder room or half bath CATH Cathedral ceilings Commonly Used Real Estate Abbreviations and Acronyms for compiled and available to the public. SD/W Storm Doors & Windows Bonus information may be placed in "Other" field. 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 . BA Bathroom PAT Patio Have questions about buying, selling or renting during COVID-19? BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. HOA Homeowners Association WF Waterfront Tiny . 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). Get the top BB abbreviation related to Real Estate. 1. Translation: This home is small. HSF Heated square feet 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. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. 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. Be sure to read the fine print carefully. CH Central heat In fact,44 percentof all buyersstart their search by looking at properties onthe internet., Butwith relatively new terms likeexpiredandpendingentering thelexicon,andunclearshorthandandacronymslittering listings, deciphering real estate lingo can be tricky., If youre tired of all the jargon, or just plain confused,hereare somerealestatetermsto knowsoyoucan kick off your home search without a hitch., Active:The property is currently on the market and available for sale., Active contingent:The home is under contract,meaning the seller has accepted an offer from a buyer.However,certain conditionsmust be metbeforethe sale is finalized, which are known as contingencies.Thesemight includethesellerneeding toreceivemortgage approvalorthebuyer and sellerneeding toreachan agreementabout anyrepairs afterahome inspectionis performed., Active with contract (AWC):While the propertyhas apurchase agreementpending on it, it is still availableand beingshown to other potential buyers. Learn, A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. If you go on online forums, BB might be shorthand for bulletin board, and themarkup language used on these websites is called BBCode. Closing costs are generally paid through escrow. A visual evaluation performed by a licensed home inspector to look for any potential defects or items of note related to the property, building(s), and the systems in a home. DCR, DSCR, DSR Debt Service Coverage Ratio REIA Real Estate Investors Association ATT Attached Garage Questions And Answers An encumbrance can create a cloud on the title of a real property. An MLS allows brokers to see one another's listings of. HUD Department of Housing and Urban Development RTO Rent to Own DBA Doing Business As BLDRS REDO Builders Renovation A three-page document sent to an applicant three days after they apply for a home loan. This means that the home fell out of escrow,perhaps due to contract issues, says Tania Matthews, an agent with Keller Williams Classic III Realtyin Central Florida. PULL Pull-Down Attic Stair The. 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. Windows 11: How Much RAM Can Your PC Have? Individuals could include neighbors or other people who have a right of way. NAT GS HT Natural gas heat G-RNG Gas Range LFT Loft The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). 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. An encumbrance is a claim that limits how a property owner can use their property. Large E-2 plan:This is one of several floor plans available in a specific building. OFF Off Street Parking Fpgas Gas Fireplace Related:12 Ideas to Steal from Vintage Kitchens. FNCD YD Fenced Yard Dsp Garbage Disposal Try. Property Records CRB Certified Real Estate Broker Powered by webmasterWP.com. Dr -Dining Room HD, HDFL Hardwood floors MEIK Modern eat-in kitchen How-To Geek is where you turn when you want experts to explain technology. TRAD Traditional Maximum loan amounts can vary by county. WSH Washer Bidding wars are common. There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. Market conditions that exist when homes for sale outnumber buyers. The four items include, repairs, vacancy loss, property management, and miscellaneous. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. Real property is immovable property - its land and anything attached to the land. PRV, PVCY FENCE Privacy Fence 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. CPT Carpet or Carport The governing body of a housing development, condo or townhome complex that sets rules and regulations. REI Real Estate Investing LLP Limited Liability Partnership Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. 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 . 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. 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. MO Month JTUB Jetted Tub FSBO For Sale by Owner Other internet-specific definitions for BB include bye-bye, a largely defunct acronym that was more common in the early days of the internet. Bulk Bulkhead Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Dbl Double WHF Whole House Fan CPM Certified Property Manager POA Power of Attorney MLS:Multiple Listing Service. Read more about back-end ratio here. An FDR with a DK? 2. Its customary for the buyer to pay for the lenders title insurance policy. COO or C of O Certificate of Occupancy POA Power of Attorney CFan Ceiling Fan HRS Horses Allowed If your offer is accepted as a backup, youre in line to go under contract if the first sale falls through. BA Bath The price of a home, as set by the seller. If you wish to report an issue or seek an accommodation, please let us know. SMP Sump Pump SKY Skylights WBS Wood-Burning Stove ARI Articles of Incorporation Notice, certificate. is part of the U.S. Department of Housing and Urban Development. PRTL Partial A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. So if the home in question isyour dream home, it may be worth offering upa deal that the seller cant refuse. HI CEIL(S) High ceilings Mstr Master bed room Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. A mortgage with principal and interest payments that remain the same throughout the life of the loan because the interest rate does not change. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. UPF, UPR Upper floor Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. FXR Fixer Upper 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. 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. PVT Private Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. PROP HT Propane Heat The reason for a botched sale could lie with the previous buyer, but you'll want to do your homework before you give the seller the benefit of the doubt. All abbreviations on this list are typically written in all capital letters.