Real estate ads are usually full of industry words. For those unfamiliar with the housing industry, whether you be a buyer or seller, here is a a cheat sheet.
1. 4B/2B — four bedrooms and two bathrooms. “Bedroom” usually means a sleeping area with a window and a closet, but the definition varies in different places. A “full bathroom” is a room with a toilet, a sink and a bathtub. A “three-quarter bathroom” has a toilet, a sink and a shower. A “half bathroom” or powder room has only a toilet and a sink.
2. assum. fin. — assumable financing
3. closing costs — the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission, mortgage-related fees, escrow or attorney’s settlement charges, transfer taxes, recording fees, title insurance and so on. Closing costs are generally paid through escrow.
4. CMA — comparative market analysis or competitive market analysis. A CMA is a report that shows prices of homes that are comparable to a subject home and that were recently sold, are currently on the market or were on the market, but not sold within the listing period.
5. contingency — a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. One example is a buyer’s contractual right to obtain a professional home inspection before purchasing the home.
6. dk — deck
7. expansion pot’l — expansion potential mean that there’s extra space on the lot or the possibility of adding a room or even an upper level, subject to local zoning restrictions.
8. fab pentrm — fabulous pentroom, a room on top (but under the roof) that has great views
9. FDR — formal dining room
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Built in 1995- 2409 square feet
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