The Meaning of Some Commonly Used Real Estate Abbreviations...Spell it Out Part 3
It's Sunday night again and time to share a few of the many posts that I have been collecting this week that have made me Laugh, Learn, feel Inspired, or just want to share. This week there were over 2 dozen that I wanted to share, but I am limiting it to these dozen or so.
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The Meaning of Some Commonly Used Real Estate Abbreviations...Spell it Out Part 3. When you are close to something, it's easy to forget that not everyone knows what you are talking about. In the real estate profession there are a lot of terms and abbreviations. The average consumer doesn't do a lot of real estate transactions and this series is designed to explain what some commonly used abbreviations stand for and what they mean.
I've included the links to the other parts in this series. In some cases the terminology may vary from one part of the country to another. I'm a real estate broker in Western Colorado and these are the abbreviations that are commonly used in my market.
PUD - Planned Unit Development. A managed development that can include single family homes, town houses and condos. In some cases this type of development can also have commercial buildings.
APR - Annual Percentage Rate.
ARM - Adjustable Rate Mortgage.
EM - Earnest Money. This is the good funds put down with an offer to buy a house. It shows a commitment to carry through with the transaction.
CMA - Comparative Market Analysis. This is a report where an agent will pull active and sold comparable properties similar to another property to help determine a value. This is great information to help a seller price a home, and it can also help a buyer determine what to offer on a house.
Comp - Comparable Property. A property that is similar to another property.
FSBO or FISBO - For Sale By Owner.
Ba - Bath.
Bd or br - Bedroom.
Ofc - Office.
NNN - Triple Net Lease. This type of lease has the tenant responsible for all cost associated with the building...like insurance, taxes and upkeep. This has also been called a "hell or high water lease".
WMS - Woodland Management Services. This one is for my forestry friend, Bob Crane. This type of service will help the owner of a forest learn how to best manage the forest asset.
This is part 3 of a series I will be doing on the meaning of some commonly used real estate abbreviations. Check back regularly for more information, or give me a call if you have any questions about real estate terminology or abbreviations.
I've lived on Colorado's Western Slope for over 24 years. I love this area and all it has to offer, and I enjoy sharing what I know about my home. As a REALTOR®, I also love to share my expertise in this area as well. If you need any real estate information for Montrose County, or Delta County, Colorado...please give me a call.
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Cedaredge Land Company Website
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