what does bb mean in real estate

Learn, A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. REF Refrigerator Dk Deck There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Try, The governing body of a housing development, condo or townhome complex that sets rules and regulations. Exr Exercise Room They provide clues to what is included in the purchase price. The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. COF Cost of Funds A property that has come back on the marketafter a pending sale. A prepayment penalty is a fee some lenders may charge if you pay off some or all of your mortgage early. DLO Seller Disclosure Example: P30 (3% offered) AJ Affidavit of Joint Tenant Deed. What Is Real Estate? A Definition And A Guide | Rocket Mortgage Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. MK Modern kitchen A mortgage with principal and interest payments that remain the same throughout the life of the loan because the interest rate does not change. TEN Tennis Court Check out our glossary of frequently-used mortgage terms. 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. This abbreviation is a shorthand way of showing your affection to your partner. Real Estate Terms - B&B Team While BB can have a lot of meanings on the internet, the most popular is a pet name between romantic partners and close friends. CPT Carpet or Carport RNCH Ranch To meet client needs, to empower teammates, and to lift up communities. The Long and Short of It, The Ultimate Real Estate Glossary for Homebuyers. All Rights Reserved. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. SFR Single Family Residence One of the most common uses isbaseball, where BB is an acronym for base on balls, also known as a walk. Learn more about short sales here. SWR Sewer MAO Maximum Allowable Offer LRG Large FLR Floor Furnace Fixtures are a frequent subject of buyer and seller disputes. Clap Clapboard Siding The owners bank must approve a lower listing price before the home can be sold. MRSH Marsh SUN Sun Room AC or A/C Air conditioning This site provides direct, online public access to all county property records and document images for the United States and U.S. territories. Read more about mortgage insurance. A lien is any legal claim upon a property for a debt or a non-monetary interest in the property. Real Estate Abbreviations And Acronyms - U.S. Title Records In many listings, the term is used to describe to an area that's in the process of transition. 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. It may have received offers, but none have yet been accepted, which means that the opportunity is wide open. MLSs are local or regional. The propertylisting with the agent has expired and is no longer active, usually because it didnt sell, says Matthews. Fha Forced Hot Air 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. WDSTV Wood-Burning Stove Membership isnt open to the general public, although selected MLS data may be sold to real estate listings web sites. You are not obligated to accept the loan just because you received a loan estimate. 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. PCF Price to Cash Flow (ratio) Mortgage insurance is usually required on a conventional mortgage loan and the down payment is less than 20 percent of the sale price. Read more about FHA loans here. Our belief in better is at the core of everything that we do, every day. CVAC Central Vacuum HPWA Water/Air Ht Pump DTI Debt to Income Ratio PAR Partially Fenced Prime rate is the interest rate charged by a lender to customers who are the least likely to default on their loans. These costs include the brokerage commission, mortgage-related fees, escrow or attorneys settlement charges, transfer taxes, recording fees and title insurance. Read more about, escalation clauses and making an offer on a home, An account required by a lender and funded by a buyers mortgage payment to pay the buyers homeowners insurance and property taxes. Whether you are looking at abbreviations or acronyms for real estate terms, be sure you clearly understand what they mean when referring to a specific piece of real estate. And the real estate business is no different. Before you make an offer, call on an excellent inspector who can clearly explain the home's pain points. MSN Masonry Cap rates can provide valuable insight into a property. IRA Individual Retirement Account Please seek the services of a legal, accounting or real estate professional prior to any real estate transaction. The components of a monthly mortgage payment. SEW Sewer 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. After all, you wouldn't want to get stuck with a money pit. Related:12 Things Realtors Look For in Homes of Their Own. Whether you're ready to buy your first home or just need an acronym refresher, keep this glossary handy. Perhaps the residential block is filled with old or rundown properties, with a few newly renovated homes sprinkled throughout. CFan Ceiling Fan GNMA Ginnie Mae or Government National Mortgage Association HP Heat Pump 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. IGSP In-Ground Sprinkler Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. The seller has an accepted offer but is waiting to see if the buyers bank will agree to it, says Realtor Dawn Rivera with Realty World-Viking Realty in Fremont, CA. Get the top BB abbreviation related to Real Estate. 27. These structures can be both above and under the ground. Refund Policy, U.S. FHLMC Freddie Mac or Federal Home Loan Mortgage Corporation But if not, you'll want to factor in the cost ofrenovationsbefore deciding if this home is both in your budget and worth a visit. A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home. A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country. LOC Line of Credit Business A Short Guide to Real Estate Lingo - realtor.com Essentially, "turnkey" means that . CRS is a title awarded by the Council of Residential Specialists to only the top real estate agents, managers, and brokers. While any seller can entertainbackup offers as a precautionary measure as long as this is made clear in the contract, this term most often crops up with short sales, since they can often fall through, and it can be helpful if a secondbuyer is waiting in the wings. 4/3 4 bedrooms / 3 bathrooms You can email the site owner to let them know you were blocked. Privacy Policy. 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. FFE furniture, fixture, and equipment FML Formal If you wish to report an issue or seek an accommodation, please let us know. is part of the U.S. Department of Housing and Urban Development. There are four important items that must be included in a buyer's pro forma. Even if the property you are buying has been newly renovated, expect to set aside money every month for repairs and maintenance. ATFN Attic Fan GLFP Gas log fire place He's invested in internet culture, social media, and how people interact with the web. 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. Disclaimer: ActiveRain, Inc. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. CH Central heat If your mortgage doesnt have an escrow account, you may pay the property-related expenses directly. 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. TXS Taxes MIC Mint Condition (like new or new) BR Bedroom I/O Interest Only (loan) Back Bay. Other internet-specific definitions for BB include bye-bye, a largely defunct acronym that was more common in the early days of the internet. Maximum loan amounts can vary by county. 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. Mstr Master bed room PL -Swimming Pool 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. MEIK Modern eat-in kitchen Her work has appeared in the New York Times Magazine, Vanity Fair, and Boston Magazine. 64 Real Estate Terms and Expressions You Should Know WHKP Washer Hookup The most credit-worthy customers (mainly large corporations), receive the best or lowest rate that the lender would offer any of its customers. HOA Homeowners association A portion of your monthly payment goes into the. Banks, savings and loans, and credit unions. MWV Microwave Oven Reading real estate advertising acronyms can sometimes feel like trying to parse ancient Greek: EIL with a W/D? 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. AC Acre Look for this accreditation or something similar when shopping for a home inspector. 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. A percentage of the homes value owned by the homeowner. The price of borrowing money. POF Proof of Funds FDR/DR Dining room or a formal dining room The Federal Housing Administration is part of the U.S. Department of Housing and Urban Development. Cdrcl Cedar Closet 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. 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. COCR or CCR Cash on Cash Return GAR, GR Garage BR Bedroom GRM Gross Rent Multiplier LLP Limited Liability Partnership Bsmt Basement When dealing with real estate, you might also need to know things like the abbreviations for all 50 states or even common measurement abbreviations. After the set time period your interest rate will change and so will your monthly payment. This claim is brought up by a party who is not the owner and restricts what an owner can do with the property. MCOA Min $ on Assumption MLS multiple listing service BD Bedroom Closing costs are generally paid through escrow. Mortgage insurance protects the lender if the borrower defaults on the mortgage loan. FDR Formal dining room PILE Pilings A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. This is important, as identifying a property's class can predict how the asset might perform. Related:10 Signs That Fixer-Upper Might Be a Money Pit. The act of paying off one loan by obtaining another. GRNO Ground Maintenance Terms Of Use Keep this five-part guide handy youll be fluent in the language of home buying before you know it. LR with Fplc? You can email the site owner to let them know you were blocked. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. 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. Cont Contemporary You can also use BB as a platonic but affectionate nickname for a friend, especially if you have a strong and established friendship. Products and services referenced are offered and sold only by appropriately appointed and licensed entities and financial advisors and professionals. A concrete point at which buying a home makes more financial sense than renting one. Typically, putting away 5% of the rent . SD Security Deposit Buyers should budget for an amount that is 2% to 5% of the homes purchase price. Ann Arbor Area Board of REALTORS1919 W. Stadium Blvd., Ann Arbor, MI 48103(734) 761-7340. Class A, B, C, D Real Estate: A Guide to Property Class Types MAR Marble PICK Picket Fence STA State A combination of loans bundled to avoid private mortgage insurance. W/D HKUP Washer/Dryer hookup CLTV Combined Loan To Value GRT RM Great room LTV Loan to Value Suggest. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. GRES Graduate Real Estate Society Rozhodli jsme se proto, sepsat tento krtk lnek, kter by pomohl ke sprvnmu pochopen, co to ESG je, a co pro obchodn vztahy znamen. BBbb. PVT Private If its back on the market, theres a reason why the original sale fell through. W/W CRPT Wall To Wall Carpet CCIM Certified Commercial Investment Member AST Assessment Lien Lien, JTL. ASM Assumptions INLW In-Law Suite Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. FAG Forced air gas Anne Miller lives in New York and writes real estate news and advice stories. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity. Go now! Cen Central Air SMP Sump Pump Learn, One of two debt-to-income ratios that a lender analyzes to determine a borrowers eligibility for a home loan. HUD Housing and Urban Development Who doesnt get a thrill while browsing real estate onsites likeZillow or Trulia?Window-shopping for housesonlineis oneof the mostfun partsof the homebuying process. INGRD PL pool in ground pool glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. 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. PL, SP, S/P Swimming pool YD Yard A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home. BA; BTH : Bathroom. 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. Sign up for our weekly newsletters and get: By signing in, you agree to our Terms and Conditions 2-LV : Two living levels. Read more about the Buy-Rent Breakeven Horizon here. FDIC Federal Deposit Insurance Corporation SPDED Special Warranty Deed BB is ubiquitous in modern relationships between young people, where direct messages and chat apps are primary forms of communication. LTV loan to value Det Detached Garage BB Real Estate Abbreviation. Dbl Double 2023 All Rights Reserved. BB Real Estate Abbreviation Meaning - All Acronyms SPLT Split-Level What is BB meaning in Real Estate? Title insurance:An insurance policy that protects a lenders or owners interest in real property from assorted types of unexpected or fraudulent claims of ownership. What Do All Those Real Estate Listing Terms Really Mean? 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. A database where real estate agents list properties for sale. RDR Radiator ARM Adjustable Rate Mortgage Learn more. BLT Built-in This list of real estate investing abbreviations is useful for real estate brokers. LR Living Room If you have the money to hire a handyman for every household woe, go ahead. DOT Deed of Trust DOS Due On Sale Clause TRSH Trash Pickup Call it what you willjargon, shorthand, lingobut every industry, including the real estate world, has its own language, a collection of terms that are essential to understand if you hope to play ball. The number of days a property listing is considered active. PUD Planned Unit Development The action you just performed triggered the security solution. NOO Non-Owner Occupied MBRFP Master Bedroom w/FP PRQ Parquet If not, it could end up back on the market, so go ahead and inquire if youre interested. Cap rates are calculated by dividing the property's net operating income (NOI) by its property asset value. DET Detached garage POR, POR-S Porch/Screened CP Carport Usually, the realtor's website will give a good description without the real estate abbreviations. Take a close look at the map before you head out to the hills to determine the listing's proximity to civilization. SHNG Shingle Here are a few examples of BB in action: Do you want to learn more internet slang terms? 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. There is no MLS covering the whole country. Clus Cluster What Does 'NNN' Mean in Commercial Real Estate? FSBO For Sale by Owner CRT. Encumbrance, Defined And Explained | Rocket Mortgage Col Colonial 4 Misconceptions Buyers and Sellers Have About the Housing Market, 10 Hottest Housing Markets of 2023, and What to Know if Youre Shopping in One, 13 Home-Buying Myths to Unlearn Right Now, 10 Hottest Housing Markets of 2023, and What to Know if You're Shopping in One, Do Not Sell or Share My Personal Information, 442-H New York Standard Operating Procedures. Organizations can include local governments, utility companies, and homeowners associations. In the abbreviations, you may see differences in which letters get capitalized and which dont depending on the realtor/publication. SLT Slate All Rights Reserved, Hey bb! Home affordability takes into account your income, down payment, and monthly debts. WD PNL Wood paneling 2/1 2 bedrooms / 1 bathrooms Dsp Garbage Disposal LLC Limited Liability Company NAR National Association of Realtors Q POS Available for quick possession CRS Certified Residential Specialist IRR Internal Rate of Return BB Real Estate Advertising Abbreviation Meaning - All Acronyms

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