Glossary of Real Estate Terms

Glossary of Real Estate Terms

GLOSSARY of real estate acronyms. Someone had mentioned it was hard to follow when just acronyms were used in posts. If you want to add to or have a question, leave a post and we'll edit it in.

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AFD = Agreement For Deed

AFF = Automated Foreclosure Finder

AITD = All Inclusive Trust Deed

AMR = Anticipated Market Value

APN# = Assessors Parcel Number

APR = Annual Percentage Rate

ARM = Adjustable rate mortgage

ARV = After Repair Value

ASP = Anticipated Selling Price

BARM = Be a Real Estate Millionaire (Dean's book. JUST in case anyone didn't know Smiling)

BOM = Back On Market

BOR = Board of Realtors

BPO = Broker's Price Opinion

CAD = County Appraisal District

Cap = Capitalization

CAP = Cap Rate (NOI / Price)

CCIM = Certified Commercial Investment Member

CCR = Conditions, Covenants, and Restrictions

CDA = Confidential Disclosure Agreement

CFD = Contract for Deed

CLTV = combined loan to value. This is if you have a 1st and 2nd or HELOC on your home, it is the combined amount owned compared to the value of your home.

CMA = Comparative Market Analysis

COCR = Cash on Cash Return

COE = Close Of Escrow

COF = Cost of Funds

COO = Certificate of Occupancy

CPI = Consumer Price Index

CRB = Certified Residential Broker

CRE = Creative Real Estate

CRS = Certified Residential Specialist

DBA = Doing Business As

DCR = Debt Coverage Ratio

DIL = Deed In Lieu

DOM = Days on Market

DOS = Due On Sale Clause

DOT = Deed of Trust

DSCR = Debt Service Coverage Ratio

EM = Earnest Money

FAL = Foreclosure Alert

FCRA = Fair Credit Reporting Act

FFE = Furniture, Fixture, and Equipment

FHA = Federal Housing Administration

FHLMC = Federal Home Loan Mortgage Corporation, Freddie Mac

FMR = Fair Market Rent

FMV = Fair Market Value

FNMA = (Fannie Mae) - Federal National Mortgage Association

FRBO = For Rent by Owner

FSBO = For Sale By Owner

GMAC = General Motors Acceptance Corporation

GRM = Gross Rent Multiplier, is the price divided by the total rent. The problem with it (as opposed to the cap rate) is that it does NOT include an info on expenses

HELOC = Home Equity Line of Credit

HML = Hard money lender

HOA = Homeowners Association

HUD = Housing and Urban Development

HVAC = Heating, Ventilation and Air Conditioning

IEE = Instant Equity Exchange

IRA = Individual Retirement Account

IRC = Internal Revenue Code

IRR = Internal Rate of Return

IRS = Internal Revenue Service

L/O = Lease Option

L/P = Lease Purchase

L/S = Landlord Seller

LIBOR = London Interbank Offering Rate

LLC = Limited Liability Company

LO = Lease Option

LOA = Letter of Authorization

LOC = Line of Credit

LOI = Letter of Intent

LP = Limited Partnership

LPOA = Limited Power of Attorney

LTV = Loan-to-value ratio

MAI = Member Appraisal Institute

MAO = Maxium Allowable Offer (Typically if you can get it, it is 30% off the ARV less repairs)

MFL = Maximum Foreseeable Loss

MIP = Mortgage Insurance Premium

MLS = Multiple Listing Service

MUD = Municipal Utility District

NAR = National Association of Realtors

NDA = Non-disclosure Agreement
(also known as a confidentiality agreement)

NIV = No Income Verification

NMD = No money down

NNN = Triple Net Lease

NOD = Notice of Default

NOI = Net Operating Income (Total Income minus all expenses EXCEPT debt service)

NOO = Non Owner Occupied

NTS = notice of trustee sale

O/F = Owner Finance

OBO = Or best offer

OO = Owner Occupied

OPM = Other people's money

P&S = Purchase and Sale

PFC = Prepaid Financial Charge

PITI = principal, interest, taxes, & insurance

PMI = Private mortgage insurance

PML = Private Money Lender

POA = Power of Attorney

PR = Primary Residence

PUD = Planned Unit Development

REI = Real Estate Investing / Real Estate Investor

REIA = Real Estate Investors Association

REIT = Real Estate Investment Trust

REO = Real estate owned

ROI = Return On Investment

RTO = Rent to Own

SBA = Small Business Administration

SBC = Small Balance Commercial (under 5 million)

SEC = US Securities and Exchange Commission

SFH = Single Family House

SFR = Single-family residence

Sub2 = Buying property subject to existing financing

T/B = Tenant Buyer

TAA = Texas Apartment Association

TAR = Texas Association of Realtors

TAV = Tax Assessed Value

TIL = Truth In Lending

TREC = Texas Real Estate Commission

UBIT = Unrelated Business Income Tax

UCC = Uniform Commercial Code

VA = Department of Veterans Affairs / Veterans Administration

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


excellent list!! Very

excellent list!! Very Helpful!

__________________

Don't let something temporary, keep you out of the game permanent.

Spencer's Investing, LLC


getting Going!

Things are finally starting to look up. I just can't keep out of the course(Good thing). Got several listings from two different realtors and went out looking. Found one house that is a possibility. Tried calling the listing agent fr more info/look see, but no return call yet. House will not pass FHA inspections, so to me that means possible lease/option until repairs(what ever they may be) are completed and I can purchase. I think I am moving in the right direction though.


Hi Rina,

Thanks for this post! I'm saving this one.

Lea
SPR Property Solutions, LLC


Just found this super list.

Hi all,

We are new here and the acronyms are very confusing. Now we will know where to look for a meaning. Thanks Rina and everyone else. Big, Big, help!

Looking for the deal,
Alice n John


Just found this super list.

Hi all,

We are new here and the acronyms are very confusing. Now we will know where to look for a meaning. Thanks Rina and everyone else. Big, Big, help!

Looking for the deal,
Alice n John


I needed these

Howdy From The West

I was wondering what the heck all these abbreviation meant!! Thanks for explaining them to me.

ASAP= As Soon As Possible Ha, Ha

as ROY would say
(until we meet again

__________________

Country Meadows Properties


need info

i'm trying gain some general information about fha loans

and how can help or can i help a buyer with this pre-approve

loan. thank you.


Very helpful...

Just about half-way through BARM.
Very informative and motivational.
Can't wait to start putting it to use.
Glossary very helpful with all the new info i'm learning.

Keep up the good work and Thx...

Paul in So Cal


Hey, all!

Glad to share. Smiling
Remember, if you find anything we don't have in here, leave a post and we'll put it in.
Thanks again!

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


TAV

This one through me Rina!Do you know what this means? Smiling


TAV. hmm...

Can you give it to me in context? I found 4 definitions that might make sense for RE.
(anybody else know?)

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


it keeps getting bigger

I think the only one missing is KS (the kitchen sink)

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


lol

that's funny Al. Smiling
Do you know what TAV would be?

Rina

P.S. I like your signature line. Very true. Did you add that recently? (I'm a little behind)

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


TAV?

I will guess... Tax Appraisers Value. About the other... My Granddaughter brought it home from school to memorize. I thought it was great, so I added it to my signiture line. My Granddaughter loves that I added it.

__________________

"NOW GO FIND A DEAL"

Watch your thoughts; They become words,
Watch your words; They become actions,
Watch your actions; They become habits,
Watch your habits; They become character,
Watch your character, it becomes your destiny.

Frank Outlaw


I got it!

Taxed Assessed Value! Eye-wink Thanks Al and Rina!


ME LIKE

GOOD INFORMATION THANK YOU! Smiling

__________________

“Formal education will make you a living; self-education will make you a fortune.”


question?

has anyone ever heard of the term "like kind exchange1031"?


What Are?

What are LIS Pendens and Notice of Sheriff's sale? Thank you


default

whats default amount?


Rina

Thanks for the glossary.

__________________

"If you cannot do great things, do small things in a great way.”
Napoleon Hill quote


what is a BPO'S

CAN ANY ONE TELL ME WHAT A BPO'S IS?


Thanks

This is great info.


BPO

Hi Cora,

A BPO is a "Broker's Price Opinion". Similar to a Market Analysis. It is a quick value that an agent will come up with for a property, based on comps, condition of property, etc. It can be very inaccurate, as there can be as little contact as just a "drive-by" when an agent is doing this for a bank-owned property (REO). The banks will pay as little as $50 to an agent for this service to get a base idea of what a property is worth. Often they totally disregard it anyway (which frustrates the heck out of my realtor) and start sky-high as a listing price.
lol. Don't know if that's what you were looking for, but hope it helped some.

Rina

P.S. You as the buyer can have a lot of influence on a BPO if you get involved in the process. Pretty sure Dean talks about this in one of the books.

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


RNRinvest

I finally added your TAV. Thank you! Smiling

brendan, Remsy031, makavelithadonkd, try doing a search on the site to learn more about these subjects (and I always "Google" them too). There is a ton of info, and also another thread for definitions (trying to leave this thread for acronyms Smiling ).
This link will help:
http://www.deangraziosi.com/node/3047
[Note: there is some really great stuff in the forums from a year and more ago. Hope everyone is raking advantage of it. ;-)]

Hey, and welcome to the DG family, all! Good to have you here. And thanks for all the thanks. I have used this list a lot myself. Nice to have everyone contributing. Smiling

God bless!

Rina

__________________

"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)

"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11

For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249


thanks rina

thanks you so much rina, although i cant's recall dean mentioning bpo's in his book, i camm across that on a site and it provided a list of bank that i guess is looking for agents to be a bpo rep or bpo agent they said its another way to produce income do you think its a route i should take being that i am a realtor just to generat some extra cash? in addition to me continuing to do what i am doing wich is organize a few assignments deal so i can move on to the next level of rei.


Great Info

This definitely is great having so much of
the quick reference in one place. I'll use it often.

Thanx!

__________________

Best Regards,
Anita
(Licensed Realtor-Military Vet-9/11Vet)
****
A self-directed realization for 2014 is to:
Live life as if always on vacation and have all the good health, time, & wealth to enjoy it.
Work, only when and IF desired. Helping others do the same. It Pay$ To Connect!
Always In Gratitude.....


I love the verse....so

I love the verse....so perfect for me today
Iam excited about getting started investing. Ive read Deans new book again and have my plan in place to execute this Monday. I'am excited its riaght for me.
Thank you
Luana


Silly Question?

There is so thing as a silly questions. There are only silly people who ask them? Knowledge is infinite stay in a search for it, then apply it!

__________________

Buy, Sell, Rehabilitate, and Manage Properties...
-PEACE OF MIND PROPERTY SOLUTIONS, LLC.


glossary of terms

I am looking for a GLOSSARY of real estate terms and not only the acronyms.The term I am looking for is MORTGAGE LOCATOR. Ive seen it used and really do not know what they are referring to.Is there such a glossary somewhere on one of the sites ?


Great Info!

This is a great bookmark for future reference...and knowledge to know now! Thanks Rina!
--Joe

__________________

My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/103264...

--Joe Cardenas
JFC Cash Flow LLC