Even if you have 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 "broadloom where laid" mean anyway ? Here is 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
HWD. 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.
Closing cost. These are additional costs that are due on closing and often include lawyer fees, land transfer tax and other costs.
AC or A/C. Air conditioning
WD or W/D. Washer and Dryer
Fin W/O. Finished Walkout Basement
ELF. Light Fixtures
TBA. To be arranged (negotiated)
Cvac. Central Vacuum
Broadloom Where Laid. Carpet that attached to the floor
Of course there are many other buzzwords and acronyms you are bound to come across when you shop for a home. Don't be afraid to ask what they mean.
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