What about cute, cozy or charming? That would mean small - “too small for your big-screen TV” or “matchbook size.”.What if the house is a fixer-upper? “This included homes that haven’t been lived in for 20 years,” meaning that the home could be in dire need of work - in one instance, “the door fell off the hinges … (and) there was no staircase to the second floor” - and may need to be stripped down to the studs.All bedrooms should have a window to the outside, but sometimes that important detail gets missed.” What exactly constitutes a bedroom? In the Deep South and Upper Midwest, the report states that a bedroom “can be a small office with or without a portable closet.and defines the real meaning of some of the more debatable listing descriptions.įollowing are excerpts of some of the questionable descriptions NAEBA compiled: The NAEBA report takes a slightly humorous look at some of the more far-fetched descriptions NAEBA Realtors have encountered across the U.S. To alleviate some of the confusion with listing descriptions, the National Association of Exclusive Buyer Agents surveyed its members to compile the NAEBA “2008 Report on Home Buying Lingo and Euphemisms - How to Read Between the Lines When Your Shopping for a Home.” Sometimes we need a little help to read between the listing lines. Needs TLC, tender loving care, wouldn’t need as much work as a handyman special maybe it would need to be cleaned or painted, or have the wallpaper ripped out” - again not always a bad thing for those looking to put a little personal touch into their new home. Handyman special means the home needs some repairs it could need a lot of repairs but wouldn’t need to be demolished by any means. The same goes for handyman special or needs TLC. That’s not to say certain attributes are necessarily negative, as some people are looking for a home to update. “Lovingly maintained by original owner” almost always means "grandma house" - it might be in really good condition, but it probably hasn’t been updated since 1972. and t/o - library, walk-in closet, attached lavatory and through out, respectively.Īs for descriptions, you really have to “read between the lines.” If you slow down and look at it, you’ll probably figure it out such abbreviations as LIB, WIC, att. Most descriptive abbreviations are easily identifiable with a little scrutiny - two bedrooms and two bathrooms listed as 2B/2B, or 2BD/2BTH fireplace as FP, frplc or fplc and so on - but others can cause eyebrows to furl: What does pot’l mean? Portal? No, it’s actually potential. When it comes to closings and negotiations, often buyers will ask, ‘What does that mean?’ when they hear agents use abbreviations like BATVAI, which means buyers agent to verify information, or CSB - call selling broker, Spouting off CMA for comparative market analysis, NSFP for natural stone fireplace, HWH for hardwood floors and things like that may come as second nature to most Realtors, but for the average person these things can be confusing. Then there’s, REOs, real estate owned properties these properties are banked owned, typically from foreclosures. A short sale is simply selling a home for less than what is owed on it however, while the concept is simple, the process is a bit more complicated, and the sale can take awhile to complete. Short sale, that’s one term that’s become ubiquitous in recent years as more homeowners have mortgages that are underwater, or upside down, meaning they owe more than their home is worth. Many first-time homebuyers think the hard part of the home-buying process - the endless paperwork and research that goes into getting pre-qualified for a mortgage - is over, but that’s not necessarily the case.įirst-timers are not only embarking into the foray of homeownership, they also are entering the realm of an often entirely new lexicon: Realtor lingo.Ĭomplete with such abbreviations as FFL - no, the home doesn’t have its own fantasy football league, but it does have first floor laundry - acronyms like the notorious ARM, or adjustable rate mortgage, and an abundance of colorful home descriptions, Realtor lingo to the layman may be difficult to discern. What does FDR mean? Not Franklin Delano Roosevelt, that’s for sure. Say, what?! Real estate lingo, abbreviations and acronyms can be confusing, but don’t worry, I’ve got you covered.
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