Even if you’ve purchased a home before, you may still find the terms and acronyms used in the real estate industry a little baffling. What in the world does “4B/2B” mean anyway? Here’s a quick list that will help you get a handle on the most common lingo you’re likely to come across.
FP. Fireplace. It might also indicate type. For example, FP-gas.
DK. Deck.
4B/2B. The first number refers to bedrooms; the second, bathrooms. So, in this case, there are four bedrooms and two bathrooms. (Sometimes the letters are left out, so you might see “4/2” in a property description.)
HDW or HWF. Hardwood floors.
In-law potential. This refers to a basement or other section of the house that can be converted into a separate apartment.
MLS. Multiple Listing Service. This is a service that provides its members, primarily REALTORS®, with detailed information on all the properties for sale in the area.
Closing costs. These are the additional costs that are due from the buyer upon closing and often include lawyer’s fees, land transfer tax, and other costs.
AC or A/C. Air conditioning.
WD or W/D. Washer/Dryer.
Fin W/O. Finished walkout.
Of course there are many other buzzwords and acronyms you’re bound to come across when you shop for a home. Don’t be afraid to ask what they mean.
Interested in more tips on how to make your home hunting experience go smoothly? Call the Dion-Ivans Group today!!
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.