![]() ![]() They offer an easy-to-use extension and online editor that suggests changes that improve the overall quality of the user’s writing. In 2008, Grammarly started to steadily take the writing world by storm. 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 send to you.Before Grammarly, there was autocorrect and spell-check… both of which were sub-par at actually helping people to improve their grammar and writing. Hi ceils – This is an abbreviation for “high ceilings.” ![]() Often, the listing will indicate which rooms have hardwood flooring. HDW, HWF, hdwd – This means there is hardwood flooring in the home. This often means there will be high-end appliances, top products (such as granite countertops, pull-out cabinets, etc.) and a spacious feel. Grmet kit – This abbreviation means the home has a gourmet kitchen. Gar – This is an abbreviation for “garage.” If the abbreviation is preceded by a number-2 gar, 1 gar, etc.-it indicates the number of car spaces available. Whenever there is doubt about what is considered a fixture in the home, be sure to get it in writing.įrplc, fplc, FP – These are abbreviations for “fireplace.” Some examples of fixtures include wall-to-wall carpeting, light fixtures, landscaping, window coverings, etc. “Real property” is legally defined as real estate, while “personal property” is anything that can be moved. A fixture is anything that is permanently attached or part of the real property. That means there is a space or room, not a part of the kitchen, specifically designed for a dining room table and other pieces.įixture – This is one of the tricky real estate terms because it is constantly in dispute by the buyer and seller. This will always be subject to zoning and regulations.įDR – When you see “FDR” on a listing or in an agent’s email, it means the home has a formal dining room. For example, an agreement could be contingent upon the buyer’s right to having a professional home inspection before purchasing.Įxpansion pot’l – This is an abbreviation that means the home has expansion potential-there could be extra space on the lot or the ability to add another level. This is often used to help appraise the home.Ĭontingency – When there is a contingency on an agreement, it means that it isn’t legally binding until a certain condition is met. Closing costs are usually paid through escrow.ĬMA – The comparative market analysis (or competitive market analysis) is a report that shows the prices of comparable homes in the area that were recently sold, are currently on the market, or were on the market but didn’t sell. – This is an abbreviation for “assumable financing,” also known as an “assumable mortgage.” What this means is that the outstanding mortgage and terms on the home can be assumed (or taken over) by the new buyer.Ĭlosing costs – These are costs and expenses that are paid by the buyer and seller when the real estate deal closes, including things such as brokerage commission, mortgage-related fees, escrow or attorney’s settlement charges, transfer taxes, recording fees, title insurance, and more. Sometimes called a variable rate mortgage, the ARM usually changes with the economy.Īssum. ![]() A half bathroom (or half bath) is a powder room with only a toilet and sink.Īdjustable Rate Mortgage – This is a type of real estate loan in which the interest rate varies over time based on a prescribed formula or set of conditions. A full bathroom means there is a toilet, sink and shower or tub. ![]() In this case, there would be five bedrooms (most commonly defined by law as a room with a window and closet) and three full bathrooms. Real Estate Terms and LingoĥB/3B – When you see this on a listing or in an email from your real estate agent, they’re talking about the number of bedrooms and bathrooms. If you’re not familiar with the world of real estate, the terminology may seem like another language-but it’s not too late to learn! Find out what your real estate agent means when they say things like “FDR” because they definitely don’t mean Franklin D. ![]()
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