what does bb mean in real estate

Crwl Crawl Space IGSP In-Ground Sprinkler A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. SPC Drive parking spaces FPLC, FP, FRPLC Fireplace Bring vs. Take. PVT Private Related:12 Ideas to Steal from Vintage Kitchens. Join 425,000 subscribers and get a daily digest of news, geek trivia, and our feature articles. Bulk Bulkhead Performance & security by Cloudflare. Translation: This home is small. This website is using a security service to protect itself from online attacks. A/C Air Conditioning RELO Relocation office GARD Garden Learn, A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. 3/4 Bath toilet + sink + shower or tub This is important, as identifying a property's class can predict how the asset might perform. 1. All rights reserved. . PILE Pilings Read, A thorough assessment of a borrowers income, assets and other data to determine a loan amount they would qualify for. Try our debt-to-income calculator to learn more. These abbreviations are typically written in all capital letters. CATH Cathedral ceilings A not-for-profit professional association that sets and promotes standards for property inspections. Prospective purchasers of an inn need to know exactly what they mean. In many listings, the term is used to describe to an area that's in the process of transition. Translation: This home is small. OA Owner Agent OBO Or Best Offer AST Assessment Lien Lien, JTL. 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. He also works as a digital marketer for a regional e-commerce website. 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. HB Half Bath (toilet + sink) Cloudflare Ray ID: 7a28359a3f44c34a C-fan Ceiling Fan The components of a monthly mortgage payment. WBFP Wood Burning Fireplace If you need help understanding your mortgage or contract, these are some of the more common real estate, legal, and financial abbreviations youll see. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. CBR Certified Buyer Representative 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. RV PRKG RV Parking Typically, putting away 5% of the rent . Real Estate Definition. This abbreviation is a shorthand way of showing your affection to your partner. The seller has an agreed-upon contract with the potential buyer. 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. The MLS listing should give the basics about a home: the price, taxes, types of utilities, and square footage. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. Example: P30 (3% offered) OP Occupancy Permit UTRM Utility Room Cozy Charm. 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. CLHMS Certified Luxury Home Marketing Specialist PL, SP, S/P Swimming pool U/G SPRK Underground Sprinkler While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. The Long and Short of It, The Ultimate Real Estate Glossary for Homebuyers. Dk Deck Hi ceils - This is an abbreviation for "high ceilings.". FIN LL Finished lower level Q POS Available for quick possession 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. BA Bath The act of paying off one loan by obtaining another. There are often additional notes with details that don't fit into the standard listing formula. Clbhs Clubhouse TEN Tennis Court 4B/2B: Four bedrooms and two bathrooms. When a home listing touts its custom features, take care. GLF Golf Course One example is a buyers contractual right to obtain a professional home inspection before purchasing the home. Not all Northwestern Mutual representatives are advisors. Affordability or home affordability refers to the amount of money you can comfortably afford to spend on a home. 27. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. Be sure to read the fine print carefully. 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 portion of your monthly payment goes into the. Terms Of Use D/D Dishwasher and a garbage disposal RTO Rent to Own After the set time period your interest rate will change and so will your monthly payment. ASB Asbestos Siding Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. 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. Affordability. After all, you wouldn't want to get stuck with a money pit. HTUB Hot Tub Learn more. Closing costs are generally paid through escrow. HPWA Water/Air Ht Pump The propertylisting with the agent has expired and is no longer active, usually because it didnt sell, says Matthews. LR with Fplc? There are many abbreviations used in real estate, but the following list includes the more common ones youve probably heard before. SEC Security System 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. Questions And Answers That happens through real care to make things better. But if thats not what youre looking for, keep shopping. WF Waterfront There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. SUN Sun Room Dont be surprised if you see strange angles, unconventional trim work, and doors that lead to nowhere. Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. 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. 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. A process a lender follows to assess a home loan applicants income, assets and credit, and the risk involved in offering the applicant a mortgage. An origination fee is not a single fee. CPT Carpet or Carport How to use real estate in a sentence. 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. The Federal Housing Administration is part of the U.S. Department of Housing and Urban Development. DOS Due On Sale Clause SPDED Special Warranty Deed Cnl Canal GRM Gross Rent Multiplier Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. Read more about FHA loans here. On online spaces with younger users, BB might also stand for bad b****, a term of endearment for women with a dominating personality. WDSTV Wood-Burning Stove This is a statement a borrower will receive from their lender at least three days before closing on a home. TXS Taxes County real estate and property records abbreviations and acronyms: AD Administrator's Deed Notice. SRO Single Room Occupancy SHNG Shingle Read, 42. This means the propertys ownersare actively taking backup offers in case the first one falls through. WHKP Washer Hookup RAD Radiant Heat ARM Adjustable Rate Mortgage HBR Harbor G-RNG Gas Range It's anything that can be subject to ownership, except land. Baseboard Heat + 2. Business, Property, Real Estate Advertising. VWS, VW, VU View or views 4/3 4 bedrooms / 3 bathrooms Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. HUD Department of Housing and Urban Development LA Living area Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. A period of time (typically 30 days or more) after a buyer has made an offer on a home and a seller has accepted. Step 3: You then find tenants in 30-60 days to take over the two . Read more about back-end ratio here. SHOP Workshop Business Real estate abbreviations are important to save time and money. Repairs. Try. Deco Decorative Fence Privacy Policy Maximum loan amounts can vary by county. Refund Policy, U.S. EMC Earnest money contract The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. STOR Assigned Storage UTLVL Utility Room Level Read more about the Buy-Rent Breakeven Horizon here. NAR National Association of Realtors That doesnt mean that its a done deal by any means, however (more on that next). CMA Comparative Market Analysis Exr Exercise Room 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. Brokerage. Both words imply motion, but the difference may b. Defenestration. Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. Fixtures are a frequent subject of buyer and seller disputes. WTR PD Water paid WINDT Window Treatment POF Proof of Funds 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. Read more about mortgage insurance. BB Real Estate Abbreviation. The action you just performed triggered the security solution. 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.

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