HPWA Water/Air Ht Pump glossary of frequently-used mortgage terms, Read our stress-free guide to getting a mortgage, The Ultimate Real Estate Glossary for Homebuyers. This means that even though theres an accepted offer on the home, the seller is looking for backup offers in case the primary buyerfalls through. Related:The 12 Fall Home Maintenance Tasks You Can't Ignore. This means that aproperty is currently on the market and available for sale. PICK Picket Fence Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc. FRBO for rent by owner Lock box:Locked key-holding device affixed to a for-sale home so real estate professionals can gain entry into the home after obtaining permission from the listing agent. NAR National Association of Realtors SMP Sump Pump 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. Its customary for the buyer to pay for the lenders title insurance policy. Home affordability takes into account your income, down payment, and monthly debts. Not all Northwestern Mutual representatives are advisors. HBR Harbor A minimum requirement is often dictated by the loan type. Here are a few examples of BB in action: Do you want to learn more internet slang terms? SN Senior PRTL Partial RPAC Realtors Political Action Committee NOI Net Operating Income NONQ Non-Qualifying Cont Contemporary D/W Dishwasher Inspection occurs when the home is under contract or in escrow. 27. CRE Creative Real Estate A Short Guide to Real Estate Lingo - realtor.com EMC Earnest money contract If you wish to report an issue or seek an accommodation, please let us know. Decoding an MLS Listing - Weichert Terms Of Use Translation: This home is small. What Does BB Mean, and How Do I Use It? Personal property is movable property. Learn, Private Mortgage Insurance or PMI, is a monthly mortgage insurance premium paid by a borrower for a mortgage insurance policy.

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