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SAM V MERCURI
Broker

Royal LePage Maximum Realty, Brokerage
Independently owned and operated

7694 Islington Ave., Second Floor, Vaughan, Ontario L4L 1W3
Phone: 416-324-2626  Fax: 905-265-3051

Getting A Handle on Real Estate Lingo

December 6, 2010

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.

Interested in more tips on how to make your home hunting experience go smoothly ?  Call Sam today at 416.804.2274 or email smercuri@trebnet.com

 


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