Learn the abbreviated language of brokers

Sunday mornings with the real estate section of the newspaper can be daunting for home buyers and sellers. Figuring out the abbreviation for popular house functions requires an inquiring mind. Mark Nash, author of 1001 Tips for Buying and Selling a Home, takes the guesswork out of listing sheets and classified ads for residential real estate.

TREE! 3/2 FSTH,S/E Exp.,Wbfplc,2 Tan.Gar,SS Kit.,Motv. 1031 Sale. Middle 5s

What It Really Says: Back on the market, 3 bedroom, 2 bath, simple townhouse for fee facing south and east, fireplace, 2 back-to-back parking spaces in garage, stainless steel kitchen appliances. Motivated seller must sell to meet guidelines for a 1031 exchange. Price $550,000.

What it really means: Either a contract fell through (the buyers walked out) or the sellers took the property off the market due to illness, repairs, or vacation. There are no Homeowners Association reviews as the townhouse is for a fee. The parking spaces in the indoor garage are rear-end or tandem. The seller who has not occupied the property because it is a 1031 exchange must sell within a short period of time to meet tax guidelines. Yes, the price is fifty thousand more than half a million dollars.

The rise in real estate prices in recent years has led to a new real estate language. The abbreviation used by real estate agents can be difficult for home buyers and sellers to decipher, but don’t be fooled by the lack of zeros in prices or the use of kind words instead of the real choice. It sounds a lot cheaper when you look in the 1.1 to 1.5 range than a million, one hundred thousand to one million, five hundred thousand. Plus “fixer-upper” sounds better than what it really is: tired. “As is” translates to buyer beware.

Here are some additional abbreviations that home buyers and sellers should become familiar with when interacting with real estate agents.

A/G. Above ground. Swimming pools that are above ground or on a slope.

Follow. Coach. Listing agent must show real estate.

air conditioning. Air conditioning. W for windows, CA for central air conditioning.

Appl. Appliances. Kitchen and laundry room.

appt. Appointment. Viewing only by appointment, do not ring the bell unannounced.

approx. approx. Check everything approximate.

Like it is.

Assmt. Rating. Annual, quarterly or monthly homeowners association fees for property owners.

Att. Attached. Any condominium, co-op, duplex, townhome, or two-flat that is attached to another unit.

A/I. Lawyer and inspection. Defined period under contract terms for purchase where both parties can have an attorney review the contract and the buyers can conduct an inspection of the property at their expense.

Bsmt. Cellar. Below ground level or ground level.

Ba. Bathroom. Either half (no shower/bath), three quarters (shower without bath) or full (bath and/or shower).

br. Bedrooms. To qualify, you usually need to have a window and a closet, otherwise a study or office.

parts list. Back on the market. Was available, went out of business, now available again.

Bldg. Building. Such as high-rise (more than eight floors) or medium-rise (5-8 floors) or low-rise (2-4 floors).

Cab. Closets. Kitchen or other built-in storage.

Can. Cancelled. A listing is no longer available.

krpt. Carpet. Wall to wall and fastened.

C/A. Central air conditioning. Either originally built in with ductwork or retrofitted as a space-pak (spc pk).

CLD. Closed. A property that has been sold and the buyers have received title.

Const. Build. New, recent or quality.

CTG. quota. A property is under contract with terms that must be met. The buyers must sell their home (home sale = HS) or receive a commitment for a mortgage (mort).

Co-op. cooperative. A form of apartment ownership (apt) or a commission paid to a real estate brokerage that a buyer purchases for a property.

Det. Loosened. A building that is not connected to another.

Tue. Dining room. A separate room not combined (combo) with living room.

Aim. Travel directions. How to go to a specific residential address.

D/W. A dishwasher. Built-in (a fixture) or portable (personal property).

See also  Learn more about the different styles of life insurance coverage plans

distance District. School (sch) or historical (hist).

DOM. Days on the market. The length of time a property has been in the Multiple Listing Service (mls).

drv. Driveway. Following is a description of what the material covers the ramp.

Ex. No longer valid. An offer period for a property has expired.

excluding exclusions. The sellers take Grandmother’s lamp into the breakfast room.

Exp. Exposure. Direction home or unit faces. E=East, W=West, S=South, N=North

Ext. Exterior. Functions on the outside of a building and the grounds.

Family Family. Family room. Beware that using this word may violate Fair Housing Laws.

Fin. Rounded. Basements can be completely finished (full fin) or partially finished (partial fin).

Fplc. Hearth. Fireplaces can be gas (gas fplc) or wood burning (wb fplc).

fri. Floor. Such as master bedroom on the first floor (1st floor mstr).

Grdn. Flower gardens or garden level. Can describe outdoor vegetation or an indoor living level that is partially below ground level.

Gar. Garage. A closed room for storage.

BVO. Gas forced air. Some kind of heating system.

Grt. Great room. A combined (combo) family, kitchen and breakfast room.

hdd. Hardwood floors. Beware, softer woods fall into this category. Bamboo and poplar cannot withstand the same wear and tear as maple and oak. Diagonal hardwood (d/hdwd) and parquet (parq) are other options.

HVAC. Heating, ventilation and air conditioning. Refers to an all-in-one heating and cooling system.

H/War. Home warranty. The sellers purchased a warranty on the home to protect buyers against repair costs.

Mr. Hour. 24 hours in advance to view a property.

incl. Including. Any items that are considered personal property (press prop) that the sellers leave in the house.

Int. Interior. As in decoration (decor) or professionally (pro) designed.

Kit. Kitchen. That’s an easy one.

L. List price. The advertised price of a property.

Live. Living room. A formal room usually adjacent to the front entrance of a house.

Loc. Located or location. Location rules in residential real estate.

LL. Lower level. A nice word for cellar.

LO Listing Office. The brokerage to contact regarding a specific advertisement.

Maintenance Maintenance. Can apply to the amount of work to maintain a home or what is included in the homeowners association fee to property owners.

MT. Market time. Same as days on the market.

Mr. Master bath or bedroom. The designated space where the homeowners bathe and sleep.

Mech. Mechanical systems. The cooling, electrical, heating, and plumbing systems in a home.

MO. Month. Monthly assessments or monthly rent.

Ofc. Office. Home office (hom ofc) or office space (ofc spc).

TO. Outside the market. A property that has been withdrawn from the Multiple Listing Service.

prkg. Parking. Options (opt) are off-street (off-st), space (spc) or indoor (covd).

pending Pending. When a property in the MLS is under contract and close to closing or escrow.

Private Pvt. Private. Entrance (entr) or road (rd).

possibly. Possess. The date on which a buyer can move into a home (occ).

PCHG. Price change. The price has been lowered or raised with motivation (difficult sellers).

Rm. Room.

S. Sale Price. The recorded price for which a property was sold.

Schrnd. screened. Lanai’s (lan) or porches (por).

sec. Safety. System (sys) or building. Or a deposit (dep).

Sep separately. Entrance or room not combined with another.

Sing Family. single-family home. A detached house.

Slider. sliding doors). Usually refers to sliding glass doors or patio doors.

Square feet square feet. Check all square footage for home marketing materials.

stable. Story. Describes the number of floors in a house.

stable. Style. The architectural character of a house. Colonial (Col), ranch (ran) or traditional (trad).

Tx. Taxes. Property taxes for the last (2005=05) feasible year (yr).

through. During. Hardwood floors in every room.

E. City house. Adjoining house.

Trans. Transport. Handy for buses, trains or highways (hwys).

U/C. Under contract. A property has a fully executed purchase contract.

use Utility(s). Cable, electricity, gas, oil and telephone services delivered to a residence.

See also  Buying Auto Insurance - Direct vs Brokers

Fin. Vintage. A house built before World War II.

B/D. Washer and dryer. Side by side (SBS) or stackable (stk).

of. Of. Wood burning fireplace with gas starter. Wbfp with gas Str.

Wbfp. Wood burning fireplace.

Yd. Garden. Front, rear or side landscaped areas.

And how about those capitalized initials after real estate agents’ names on their business cards, called Professional Designations. Here’s an example.

ABR Accredited Buyer Representative. Homebuyers should look for the Accredited Buyer’s Representative designation. The Real Estate Council trains experienced real estate agents to specifically represent the real estate consumer.

CRS-certified residential specialist. Agents holding the CRS designation have additional training and sales experience with a focus on the latest real estate professionalism, sales and marketing techniques.

GRI Graduate Realtor(R) Institute. REALTOR® Institute graduates earn the GRI designation by completing a national continuing education program that includes residential marketing, cost basis, valuation methods, investment and taxation in real estate, construction, exchanges, capital gains and mortgage programs.