Reading real estate ads in the newspaper or online can be quite an adventure in trying to figure out what exactly they are trying to tell you about the property. It may seem to those who are inexperienced in reading listings that the person who wrote the ad was from a foreign country, but once you learn to decipher the lingo and acronyms you are on your way to finding your dream home. Below we are going to provide you with some of the most common used acronyms and lingo used in real estate listings.
- 4B/2B – This term is used to describe a property that has four bedrooms and two bathrooms. But be careful, some sellers take liberties when counting bedrooms or bathrooms; they may feel that any space that can hold a mattress counts as a bedroom. Be sure to ask if the bathrooms are full, three-quarter or half in size.
- Closing Costs – Closing costs refers to the all of the miscellaneous expenses that are paid by the buyer and seller when the real estate deal closes. These costs may include mortgage fees, escrow, recording fees, title insurance and any commissions due to the mortgage broker or the real estate agents involved in the transaction.
- dk – This acronym is used to inform buyers that the property includes a deck.
- FDR – This informs buyers that the property includes a full dining room.
- assum. fin. – This term is used to inform buyers assumable financing is available on the property.
- CMA – This acronym is used to refer to a comparative market analysis or competitive market analysis. A CMA is a report that is used to show the prices of homes that are comparable to the home listed and that have been recently sold, are currently listed or were listed but not sold.
- fixture – This term is used to describe anything of value that is permanently attached to or installed in the property. This includes carpeting, light fixtures, landscaping and window coverings. Experts suggest that buyers always get in writing what the seller believes to be fixtures and what they will be leaving in the property.
- frplc, fplc, FP – Is used to inform potential buyers that there is a fireplace in the home.
- gar – This term is used when there is a garage included in the property.
- HDW, HWF, Hdwd – These acronyms are used when the home has hardwood floors.
- lo dues – This term is used to inform buyers that there are low homeowner’s association fees required for the property.
These are only a few of the many terms used to describe listed properties, if you are ever unsure as to the meaning of a term of acronym contact a realtor. They will be more than happy to help you understand everything the ad is trying to express.