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

2023 All Rights Reserved. L/O Lease Option Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. AC or A/C Air conditioning While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. DWF, DWAC Deep Water/Access GARB Garbage SEW Sewer LOC Line of Credit Learn more about adjustable-rate mortgages here. An origination fee is not a single fee. APR Annual Percentage Rate Longterm care insurance is issued by Northwestern Long Term Care Insurance Company, Milwaukee, WI, (NLTC) a subsidiary of NM. Cloudflare Ray ID: 7a28359a3f44c34a 4B/2B:Four bedrooms and two bathrooms. LR Living room PRQ Parquet This abbreviation is a shorthand way of showing your affection to your partner. On online spaces with younger users, BB might also stand for bad b****, a term of endearment for women with a dominating personality. CRS is a title awarded by the Council of Residential Specialists to only the top real estate agents, managers, and brokers. COF Cost of Funds NGS Natural Gas BA; BTH : Bathroom. The governing body of a housing development, condo or townhome complex that sets rules and regulations. About Truist | Truist MOPOA Monthly POA Fee A full bathroom is a room with a toilet, a sink and a bathtub. PWDR RM Powder room or half bath In the abbreviations, you may see differences in which letters get capitalized and which don't depending on the realtor/publication. Read more about origination fees here. One example is a buyers contractual right to obtain a professional home inspection before purchasing the home. You can email the site owner to let them know you were blocked. The. DLM Seller Disclaimer TRAN Transitional GAROP Garage Door Opener What Does BB Mean, and How Do I Use It? It is for information purposes only, and any links provided are for the users convenience. and If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. Take a close look at the map before you head out to the hills to determine the listing's proximity to civilization. Exr Exercise Room Farm Farmhouse This list of real estate investing abbreviations is useful for real estate brokers. A combination of loans bundled to avoid private mortgage insurance. CRT. When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. Learn more. The action you just performed triggered the security solution. No purchase is necessary to view U.S. The property is sold and no longer available. Whether you're ready to buy your first home or just need an acronym refresher, keep this glossary handy. ARM Adjustable Rate Mortgage What is BB meaning in Real Estate? Even though a sale is highly likely, some pending properties may still accept backups. GNMA Ginnie Mae or Government National Mortgage Association POR, POR-S Porch/Screened BR Bedroom Learn more about foreclosure here. An MLS is an organization that collects, compiles and distributes information about homes listed for sale by its members, who are real estate brokers. A concrete point at which buying a home makes more financial sense than renting one. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. In a commercial lease, both the base rent and any NNN expenses are calculated using a flat cost per square foot. REO Real Estate Owned Read, A ratio that compares a home buyers expenses to gross income. IRR Internal Rate of Return All of these abbreviations are commonly used to describe the features of a house or commercial property. 4B/2B: Four bedrooms and two bathrooms. GRNO Ground Maintenance Q POS Available for quick possession INLW In-Law Suite RELATED: How to Stream U.S. Sports for Free Online. CCIM Certified Commercial Investment Member Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. PAR Partially Fenced Please switch to a supported browser or download one of our Mobile Apps. Cer Ceramic Tile UTLVL Utility Room Level All Rights Reserved, Hey bb! Chn Chain Link Fence Loans from private lenders that are regulated and insured by the Federal Housing Administration (FHA). MLS Multiple Listing Service The status will show as pending until the closing. It should return to active soon enough, so its certainly worth piping up if youre smitten. There are multiple reasons why homes become REO properties, the biggest one being that the home went into foreclosure. Copyright 2022 Ann Arbor Area Board of REALTORS. SEC Security System A contingent statusmeans that the seller has accepted an offer and the home is under contract. Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. A fee charged to borrowers who make a down payment that is less than 20% of the homes value. Dbl Double COO or C of O Certificate of Occupancy Guide To REO Properties And How To Buy Them | Quicken Loans Refinancing is generally done to secure better loan terms, such as a lower interest rate. ABS Assessment / Bill of Sale Assessment, Mineral/Oil & Gas. The BRRRR method explained in 5 simple steps - Hemlane Crk Creek Buyers should budget for an amount that is 2% to 5% of the homes purchase price. Contingency:A provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. Cnl Canal Bung Bungalow AST Assessment Lien Lien, JTL. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. HOA Homeowners Association Cdrcl Cedar Closet 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. During this time, the home is inspected and appraised, and the title is searched for liens, etc. Read more about PMI here. Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. Essentially, "turnkey" means that . TEN Tennis Court OA Owner Agent REL Related to Seller SLT Slate Here are a few examples of BB in action: Do you want to learn more internet slang terms? 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 . STOR Assigned Storage CHMS Certified Home Marketing Specialist But the cap rate is not the only metric used to evaluate a real estate investment. TRAD Traditional SMP Sump Pump The act of paying off one loan by obtaining another. Since many phrases can be shortened to BB, this acronym might refer to other things online. 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. WINDT Window Treatment Cap rates can provide valuable insight into a property. HOA Homeowners association 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. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. Decoding an MLS Listing - Weichert Before you start calling someone BB, you might need to establish ground rules. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. A mortgage with principal and interest payments that remain the same throughout the life of the loan because the interest rate does not change. We select and review products independently. Cen Central Air ASG Assessment Assessment. Go now! 4/3/2 4 bedroom / 3 bath / 2 car garage, ABR Accredited Buyer Representative The owners bank must approve a lower listing price before the home can be sold. DLO Seller Disclosure OO Owner Occupied Try, A fee, charged by a broker or lender, to underwrite and process a home loan application. 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. Miscellaneous. Learn, Study these real estate terms when youre applying for a mortgage, Real estate terms you might hear when youve had your offer accepted, more about adjustable-rate mortgages here, The 12 Most Popular Vacation Towns for Home Shoppers. After the set time period your interest rate will change and so will your monthly payment. IRA Individual Retirement Account A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. CRE Commercial Real Estate At Truist, our purpose is to inspire and build better lives and communities. 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. SMB Split Master Bedroom Active This means that a property is currently on the market and available for sale. One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. Learn, Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. The Real Estate Commission: How Much Are Realtor Fees? The price of a home, as set by the seller. A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. Cent h/a Central Heat&Air The document includes loan terms, monthly payment and closing costs. Hi ceils - This is an abbreviation for "high ceilings.". 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. to see how much house you might be able to afford. HW Hot Water Real Estate: Definition, Types, How to Invest in It - Investopedia CREA. CVAC Central Vacuum RNCH Ranch NAT GS HT Natural gas heat The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. If its someone youre romantically interested in, you have to be in a relationship with them or in the process of courting them. Real property is immovable property - its land and anything attached to the land. CPM Certified Property Manager 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). BRRRR refinance example. A "default" occurs when a borrower does not make his or her mortgage loan payment and falls behind. FML Formal END End Unit What Is a Short Sale? - Ramsey - Ramsey Solutions Examples of contingencies are home inspections, attorney review, the buyers financing, appraisal, and title search, among other reasons. 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. WF Waterfront Back Bay + 1 1. Not all products and services are available in all states. Mstr Master bed room He's invested in internet culture, social media, and how people interact with the web. LFT Loft A percentage of the homes value owned by the homeowner. If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and financial abbreviations youll see. Market conditions that exist when buyers outnumber homes for sale. Real Estate Acronyms By cnyREALTOR Tiny houses are a trend, for sure. Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. These abbreviations are typically written in all capital letters. The content on this site is not intended to provide legal, financial or real estate advice. 8 Real Estate Designations That Will Actually Make You Money The action you just performed triggered the security solution. CAP Capitalization 7 meanings of BB abbreviation related to Real Estate: Real Estate. 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 BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. These contingencies fall away as tasks are completed, saysMelanie Atkinson, a Realtor with Coldwell Banker Residential Real Estate in Tampa, FL. 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. Sign up for our weekly newsletters and get: By signing in, you agree to our Terms and Conditions Cvga Converted 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. Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. TOWN Town House 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. COCR or CCR Cash on Cash Return Paying points, which are tax deductible, will lower the monthly mortgage payment. Click to reveal ARI Articles of Incorporation Notice, certificate. HP Heat Pump FDR Formal dining room Cap Rate: Defined And Explained | Rocket Mortgage G-RNG Gas Range Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. BKPORCH Back Porch Col Colonial FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation PAT Patio Real estate Definition & Meaning - Merriam-Webster Agents use this status to indicate that the seller is open toreceivingbackup offersbecause the sale may not go through., Back onthemarket (BOM):The propertyhas becomeactive again,afterrecentlybeingtaken offthemarket., Closed (CL):The property has been sold and is no longer available., Expired:The property is no longer available for saletypically because the seller could not find a buyer., Pending:Thepropertyis under contract and all contingencies have beenfulfilled, but the settlement still needs to take place., Temporarily off market (TOM):The home is not currently available for saleandshowings arenotallowed,butitwillsoon beback on the market. Crprt Carport Lo dues:Low homeowners association dues. FDR/DR Dining room or a formal dining room INT Intercom OFC Office Dsp Garbage Disposal RELATED: What Does "TMI" Mean, and How Do You Use It? PAN Pantry 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. This is the escrow period, when both buyer and seller are workingtoward a closing. Read more about FHA loans here. Related:12 Things Realtors Look For in Homes of Their Own. Bidding wars are common. U/G SPRK Underground Sprinkler PMI Private Mortgage Insurance . Disclosure: BobVila.com participates in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for publishers to earn fees by linking to Amazon.com and affiliated sites. YD Yard SCRND PORCH Screened Porch VWS, VW, VU View or views 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. BB Real Estate Abbreviation. MO Month Windows 11: How Much RAM Can Your PC Have? Questions And Answers Read more about back-end ratio here. A half bathroom or powder room has only a toilet and a sink. Best for: Buyer's agents looking to separate themselves from the rest of the field. FHA Federal Housing Administration Are You Confused With These Real Estate Abbreviations? The components of a monthly mortgage payment. NYSAR New York State Association of Realtors The four items include, repairs, vacancy loss, property management, and miscellaneous. Zkratka ESG (z anglickho Environmental . BB Real Estate Abbreviation Meaning - All Acronyms An FDR with a DK? Used under license. If thats your style, you're in luck. MBRFP Master Bedroom w/FP 2-LV : Two living levels. It may sound charming, but a house that's described as having lots of character could look just plain weird in person. LR Living Room Its customary for the buyer to pay for the lenders title insurance policy. Perhaps the residential block is filled with old or rundown properties, with a few newly renovated homes sprinkled throughout. NNN Triple Net Lease Normally, a piece of property can be easily classified as either personal property or real property. A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. Fixtures are a frequent subject of buyer and seller disputes. 4/3 4 bedrooms / 3 bathrooms MIC Mint Condition (like new or new) OP Occupancy Permit Read, A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. Real estate abbreviations are important to save time and money. LR with Fplc? Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Refinancing is generally done to secure better loan terms, such as a lower interest rate. How-To Geek is where you turn when you want experts to explain technology. The price of borrowing money. Real Estate Abbreviations And Acronyms - U.S. Title Records They provide clues to what is included in the purchase price. Home affordability takes into account your income, down payment, and monthly debts. A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. UTCL Utility Closet Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. APT Apartment 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. LTV Loan to Value It is not Zillows intention to solicit or interfere with any established agency relationship you may have with a real estate professional. This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. A concrete point at which buying a home makes more financial sense than renting one. 1. PGS Propane 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. I havent seen you in forever. Det Detached Garage In fact, there are probably more terms in the housing biz than just about anything short of neurosurgery. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). Buying a Flipped House: Is It Right for You? A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. Fixtures include wall-to-wall carpeting, light fixtures, window coverings and landscaping. After all, custom upgrades (like any decor choice) reflect the taste of the previous owner, and may or may not be to your taste. Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. Abbreviations on the list may have capitalization variations. 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. Certified Residential Specialist, a designation awarded by the Council of Residential Specialists. Lenders reward lower LTV ratios. HML Hard Money Lender There is no MLS covering the whole country. 147.189.141.138 You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. Cldsc Cul-de-sac 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. This website is using a security service to protect itself from online attacks. Learn, A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. Individuals could include neighbors or other people who have a right of way. RDR Radiator It may also give the breakdown of the number of floors, size of the rooms and their location within the home. BALC Balcony New real estate investors may wonder what the terms Class A, B, C, and D property mean. It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. Not all real estate agents are REALTORS. Buyers should budget for an amount that is 2% to 5% of the homes purchase price. SQ FT Square Feet Fees associated with the purchase of a home that are due at the end of the sales transaction.
Absolute Inventive Group Null Co, Terry Harvey And Steve Harvey, What Is Your Availability Or Notice Period Tesla, Teresa Earnhardt House, Why Are There So Many Female Snooker Referees, Articles W