Thursday, September 21, 2017
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Home Listing Terms-What do they Mean?

 Basic Listing Terms Explained

Looking at homes for sale in Pawleys Island, but not sure what all those abbreviations and Real Estate jargon mean?Home buying has its own set of terms and phrases that buyers should know when perusing the listings.  As with any specialized area, the terms used in home listings are often confusing at first, but understanding them is simple enough once you get to know how they are used.  Take a look at these common home listing terms and their meanings before you start house shopping. As always, Pawleys Island Real Estate is here to help!

 

The Basics Of Describing A Home

So many terms…..what do they mean? Don’t lose sleep over not knowing these realtor terms!

 

With home listings in Pawleys Island, the basic description is one of the most important things to understand.  It tells you all of the basics of the home’s size and features, things that will help you decide if you want to go take a closer look.  Here are a few of the basic terms and abbreviations you will need to know. We can never just assume that new home buyers know all the lingo, so let’s start out with some basic terms and get nuts!

 

BR/BA: Bedrooms and baths.  This tells you how many bedrooms and bathrooms the home has.

 

Bonus Room or Den: This is a room that does not qualify as a bedroom because it has no closet, but may still be a separate room with a door.  Bonus room may be abbreviated as bns rm.

 

Give it up for those bonus rooms! Use them as a bedroom, living room, office, or man/woman cave.

 

Det: Detached, usually used in reference to a garage.

 

C/A and C/VAC: Central air and central vacuum.

 

F/A: Forced air, used in reference to the heating system.

 

DR/FDR: Dining room and formal dining room.  A formal dining room is usually a separate room that includes lighting, making it more formal than an open dining room.

 

OSP: Off-street parking.  This can be important if you are looking at condos or townhomes.

 

FCD YD: Fenced yard.

 

Terms Of The Sale

 

Some of the terms that are important in a listing don’t just describe the home; they describe important things to know about the actual sale of the home.  Get to know these abbreviations and terms so you will have an idea of what you might be getting into.

 

FSBO: For sale by owner.  This means that the owner is acting as his or her own realtor in the sale and has not hired a professional to negotiate.

 

One of several stipulations can exist behind that ‘For Sale’ sign, and again, you can find it in the description.

 

 

 

 

 

 

 

 

 

 

Bank-owned: This is a property that is owned by the bank, usually due to a foreclosure.

 

Owner Finance: This means that the owner is willing to finance the sale, rather than using a traditional mortgage with a bank or other lender.

 

Quick Possession, or Q/P: This means that the home is often already vacant and the sellers are looking to close quickly.

 

Contingencies: The most common contingency is that the sale is dependent on the owner finding a new home to which to move.  This means that the process could be delayed.

 

Please let me help you with any terminology in a listing you don’t understand and make sure that your home hunt is smooth and easy. Call me directly at (843) 344-8181 with any questions…make sure to come back to the website for listing updates and new blogs!

 

Melissa Keller, Realtor in Pawleys Island

 

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