Real Estate Acronyms
FHA
What is Federal Housing Administration
In high interest rate markets, this aspect of FHA loans can make sale work, if the lender approves.
What is it being assumable with lender approval.
When a neighbor builds across your lot line this a/an:
What is an encroachment.
KW's MVVBP includes Values. What statement represents this?
What is: God, Family, then business.
This tab in the Interactive Map Search in our MLS provides powerful data regarding county recorded sales, foreclosure data, school, hazards (ie. flood zone data), and more.
What is the Layers tab?
HUD
What is Housing and Urban Development Department
Which loan types allow for either a 3% max seller concessions or a 6% max seller concessions?
What are conventional and fha.
A defect not readily observable by the naked eye. What is a latent defect.
What is a latent defect.
GPS is the acronym for what?
What is goal, priority and strategies.
This is the neighborhood where the new FC Cincinnati stadium is located.
What is the West End?
LTV
What is Loan to Value ratio.
The type of mortgage where the borrower has a large, one-time final payment.
What is a balloon payment.
This spousal interest must be released prior to or at closing.
What is dower or dower rights.
DAILY DOUBLE The Keller Williams Mission Statement.
What is: To build careers worth having, businesses worth owning, lives worth living, experiences worth giving, and legacies worth leaving.
There are over 50 of these that have been published oncer per week and are archived for review under the "Training and Support" section of our MLS.
What are the Tuesday Tip?
ROI
What is Return on Investment
What 2 loan types allow for 0% down payment?
What are USDA and VA.
Based on a 365 day year, this is a credit given to a buyer at closing.
What are tax prorations.
By doing THIS, everything will be easier or unnecessary.
What is: The One thing.
After partnering with Rapattoni for 20 years the Cinci MLS plans to convert to this system by the end of 2022.
What is Perchwell?
PITI
What is Principal, Interest, Taxes and Insurance.
This propery specific tax incentive increases a purchaser's buying power.
What is a tax abatement.
Usually disclosed up front, this is when a seller states he/she is unwilling to make repairs on the property.
What is "as/is."
3 of the 4 C's in the KW belief system.
What are: Commitment, creativity, customers, communication.
Mostly used for football fields, this outdoor surface is sometimes used for low maintenance yards.
What is astro-turf?