what does bb mean in 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. BB Real Estate Abbreviation Meaning - All Acronyms New real estate investors may wonder what the terms Class A, B, C, and D property mean. Real Estate Abbreviations | YourDictionary 2. 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. CRS. The content on this site is not intended to provide legal, financial or real estate advice. Try our affordability calculator to see how much house you might be able to afford. Expansion potl:Expansion potential mean that theres extra space on the lot or the possibility of adding a room or even an upper levelsubject to local zoning restrictions. CVAC Central Vacuum INGRD PL pool in ground pool If youre going to use BB in a platonic way, then you can get away with simply inserting it in a casual text. 4B/2B: Four bedrooms and two bathrooms. Dbl Double Crystal R. After all, you wouldn't want to get stuck with a money pit. Lastly, in beauty communities, BB refers to beautifying balm, a multi-purpose cream that acts as both a foundation and a moisturizer. You can email the site owner to let them know you were blocked. Real Estate Definition. Refund Policy, U.S. Tiny . MULTI 3+ Car Garage MLS:Multiple Listing Service. 27. TOWN Town House Keep reading to learn more about this unique abbreviation. If you have the money to hire a handyman for every household woe, go ahead. The amount of the loan divided by the price of the house. Read more about the Buy-Rent Breakeven Horizon here. Large E-2 plan:This is one of several floor plans available in a specific building. The line items should look similar to what a borrower sees on their loan estimate when first applying there are limits to how much any fees can change in the time period between application and closing day, so borrowers should review their closing disclosure closely and ask their lender about any changes. Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). TRAD Traditional Fixtures include wall-to-wall carpeting, light fixtures, window coverings and landscaping. SPDED Special Warranty Deed Buyers should budget for an amount that is 2% to 5% of the homes purchase price. Prospective purchasers of an inn need to know exactly what they mean. PWDR RM Powder room or half bath LR with Fplc? 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 PITI Principal, Interest, Taxes, and Insurance Det Detached Garage The price of borrowing money. Certified Residential Specialist, a designation awarded by the Council of Residential Specialists. GAR Garage It is only recommended to perform title, lien, and property record searches before you get too far we advise doing your due diligence. If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. WINDT Window Treatment Please switch to a supported browser or download one of our Mobile Apps. The Compensation is entered in the Compensation Code fields of BB (Buyer's Broker), SU (SubAgent), and/or TR (Transaction Coordinator). The components of a monthly mortgage payment. Investment brokerage services are offered through Northwestern Mutual Investment Services, LLC (NMIS) a subsidiary of NM, brokerdealer, registered investment advisor, and member FINRA and SIPC. An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. PICK Picket Fence BKYD Backyard Contingent vs. under contract? E Rng Electric Range Home affordability takes into account your income, down payment, and monthly debts. Related:12 Things Realtors Look For in Homes of Their Own. FFE furniture, fixture, and equipment Related:18 Big Storage Ideas to Steal from Tiny Homes. 1 meaning of BB abbreviation related to Real Estate Advertising: Vote. CCR Conditions, Covenants, and Restrictions A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur. ARI Articles of Incorporation Notice, certificate. Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. Closing costs:All of themiscellaneous expenses paid by the buyer and the seller when the real estate deal closes. Not all Northwestern Mutual representatives are advisors. This list of real estate investing abbreviations is useful for real estate brokers. F/BSMT Fully finished basement Learn more about refinancing here. DOS Due On Sale Clause Cldsc Cul-de-sac Is A House Considered Real Estate? - Ascent Law LFT Loft Membership isnt open to the general public, although selected MLS data may be sold to real estate listings web sites. These contingencies fall away as tasks are completed, saysMelanie Atkinson, a Realtor with Coldwell Banker Residential Real Estate in Tampa, FL. There are five main categories of real estate. OVER Oversized Garage Learn, Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. 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. 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 . PL/1 In-Ground Pool Accredited Buyer's Representative (ABR ) Becoming an Accredited Buyer's Representative might be the edge you need in a crowded market. PAN Pantry Our belief in better is at the core of everything that we do, every day. Read more about PMI here. MEIK Modern eat-in kitchen 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 . to see how much house you might be able to afford. A half bathroom or powder room has only a toilet and a sink. PL/A Above Ground Pool PITI Principal, Interest, Taxes and Insurance BB Real Estate Abbreviation. Try our debt-to-income calculator to learn more. The Real Estate Commission: How Much Are Realtor Fees? IRA Individual Retirement Account The seller has an agreed-upon contract with the potential buyer. OCN Ocean This claim belongs to a third party, who can either be an organization or an individual. . Refinancing is generally done to secure better loan terms, such as a lower interest rate. RTO Rent to Own Real estate is considered real property that includes land and anything permanently attached to it or built on it, whether natural or man-made. RNCH Ranch I want to receive exclusive email updates from YourDictionary. If its back on the market, theres a reason why the original sale fell through. EMC Earnest money contract FSBO For Sale by Owner glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. MWV Microwave Oven What Is a Short Sale? Be sure to read the fine print carefully. Repayment of a mortgage over the loan term through regular monthly installments of principal and interest, based on an amortization schedule. BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. TEN Tennis Court Anne Miller lives in New York and writes real estate news and advice stories. DOT Deed of Trust and Home affordability takes into account your income, down payment, and monthly debts. In the abbreviations, you may see differences in which letters get capitalized and which dont depending on the realtor/publication. GRNO Ground Maintenance LLC Limited Liability Company MIC Mint Condition (like new or new) The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income. ASB Asbestos Siding Have questions about your home financingpaperwork? The fascinating story behind . A house located in a quiet location may be slightly off the beaten trackor, it may be out-and-out secluded. FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation If you have made your required monthly payments, at the end of the loan term (e.g., 15 or 30 year mortgage), you will own your home. SFR Single Family Residence Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. No purchase is necessary to view U.S. RELATED: What Does "TMI" Mean, and How Do You Use It? Cdrcl Cedar Closet FXR Fixer Upper OBO Or Best Offer One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. Life and disability insurance, annuities, and life insurance with longterm care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). 1C : One-car garage. Yes! Click to reveal SD Security Deposit A government agency created by the National Housing Act of 1934 that insures loans made by private lenders. 3/4 Bath toilet + sink + shower or tub SEW Sewer Related:9 Ways Your Neighbors Can Screw Up Your Home Sale. COO or C of O Certificate of Occupancy Bung Bungalow Back Bay + 1 1. 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. CCR Conditions, Covenants, and Restrictions CAP Capitalization There is no MLS covering the whole country. What sounds impressive on paper may look less appealing in person. HBR Harbor NBHD Neighborhood CBR Certified Buyer Representative Pro Forma Real Estate: Everything You Need to Know - RealWealth Percentage (P): The first digit being the full percentage point and the second digit being the partial percentage (no decimal is used). 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. An origination fee is not a single fee. A combination of loans bundled to avoid private mortgage insurance. A certain portion of the homes purchase price that a buyer must pay. The Mission of the Ann Arbor Area Board of REALTORS:To strengthen our REALTOR community through advocacy, collaboration,education, innovation and civic engagement. SHNG Shingle is part of the U.S. Department of Housing and Urban Development. LRG Large Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. Dry Clothes Dryer Brk Brick A loan estimate can help borrowers shop and compare costs of loans with lenders. Each lending institution sets its own prime rate. ASM Assumptions Check out our explainers on TMI, LFG, and SRSLY and expand your web vocabulary. What Do All Those Real Estate Listing Terms Really Mean? Clap Clapboard Siding 2-LV : Two living levels. BBbb. Property Records MK Modern kitchen There are four important items that must be included in a buyer's pro forma. Try our amortization calculator to learn more. FCRA Fair Credit Reporting Act Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. FHA Federal Housing Administration WIC Walk-in closet, ARV After-Repaired Value FFBR First Floor Bedroom G/A Garage, Attached What Does 'NNN' Mean in Commercial Real Estate? Chn Chain Link Fence Before you make an offer, call on an excellent inspector who can clearly explain the home's pain points. All of these abbreviations are commonly used to describe the features of a house or commercial property. Prices are often higher than average. UTLVL Utility Room Level A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Before you buy, consider what the neighborhood will look like in the long term and if you want to live in a neighborhood that's still in the process of change. VA Department of Veterans Affairs / Veterans Administration, AMORT Amortization TRAN Transitional REALTOR Member of the National Association of Realtors Brkf Breakfast Area Translation: This home is small. 1. Articles may contain affiliate links which enable us to share in the revenue of any purchases made. Learn more about HOAs here. 64 Real Estate Terms and Expressions You Should Know CMA Comparative Market Analysis Multiple Listing Service (MLS): Definition, Benefits, and Fees ATT Attached Garage PMI Private Mortgage Insurance When a home listing touts its custom features, take care. The owners bank must approve a lower listing price before the home can be sold. BB Real Estate Abbreviation. Most lenders will require title insurance to protect their interests should there be outstanding liens on the property securing their security interest. Read more about escalation clauses and making an offer on a home. A property repossessed by a bank when the owner fails to make mortgage payments. A multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. Clbhs Clubhouse FRBO for rent by owner Smart mortgage shoppers apply for at least two loans and use the loan estimates to determine which lender they want to use. This website is using a security service to protect itself from online attacks. Not all mortgages carry a prepayment penalty. 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. The act of paying off one loan by obtaining another. MAO Maximum Allowable Offer During this time, the home is inspected and appraised, and the title searched for liens, etc. POF Proof of Funds Decoding an MLS Listing - Weichert But the cap rate is not the only metric used to evaluate a real estate investment. HSF Heated square feet Fees associated with the purchase of a home that are due at the end of the sales transaction. A contingent statusmeans that the seller has accepted an offer and the home is under contract. American Society of Home Inspectors (ASHI), Fees associated with the purchase of a home that are due at the end of the sales transaction. Real Estate Terms & Lingo | Terminology, Definitions & Abbreviations An encumbrance is a limit on how an owner can use real estate. The difference between the two is usually fairly . 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. HDW, HWF, hdwd - This means there is hardwood flooring in the home. Abbreviations on the list may have capitalization variations. GLFP Gas log fire place C-fan Ceiling Fan The number of days a property listing is considered active. W/D WD Washer and dryer PCF Price to Cash Flow (ratio) Only those representatives with Advisor in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services. PAT Patio IGSP In-Ground Sprinkler 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. An encumbrance is a claim that limits how a property owner can use their property. PILE Pilings If thats your style, you're in luck. R/OPT Rent w/Opt-Buy UNO Unit Number LTV Loan to Value Both words imply motion, but the difference may b. Defenestration. But the sale is subject to, or conditioned upon, certain criteria being met by the buyer and/or seller before the dealcan close. LTV loan to value 4/3 4 bedrooms / 3 bathrooms HTUB Hot Tub A portion of your monthly payment goes into the. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. Vann Vicente has been a technology writer for four years, with a focus on explainers geared towards average consumers. INT Intercom HB Half Bath (toilet + sink) The four items include, repairs, vacancy loss, property management, and miscellaneous. Learn, Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy. SMB Split Master Bedroom Cent h/a Central Heat&Air NAR National Association of Realtors What Does "BB" Mean, and How Do I Use It? - How-To Geek This means the seller has an accepted offer and an executed contract, and all the contingencies have been met, so the home is pending sale. HI CEIL(S) High ceilings LLP Limited Liability Partnership 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. ASG Assessment Assessment. UTRM Utility Room It should return to active soon enough, so its certainly worth piping up if youre smitten. This means that even though theres an accepted offer on the home, the seller is looking for backup offers in case the primary buyerfalls through. PL, SP, S/P Swimming pool Dollar (D): If a set dollar figure is offered instead of percentage, use the "D" to represent the dollar figure being offered as commission. Click to reveal If a place is advertised as needing TLC then its likely a bona fide fixer-upper. Fab pentrm:Fabulous pentroom, a room on top of the housebut under the roofthat has great views. Home affordability takes into account your income, down payment, and monthly debts. OFC Office/Study And the real estate business is no different. 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. RTO Rent To Own Maximum loan amounts can vary by county.