Whether you are thinking of selling or buying a home, it’s helpful to understand terms used in a typical residential real estate transaction.
A
- 1031- exchange
- Accessory Dwelling Unit
- Active Listing
- Adjustable Rate Mortgage (ARM)
- Addendum
- ADU
- Agent
- Agreement
- Annual Percentage Rate (APR)
- Amortization
- APR
- Appraisal
- ARM
- As-Is
- Asbestos
- Assessed Value
- Authentisign
B
C
- Canceled Listing
- CC&Rs
- CD
- Clean Title
- Closing
- Closing Costs
- Closing Agent
- Closed
- Closing Day
- Closing Disclosure (CD)
- CMA
- Comparable Market Analysis (CMA)
- Comps
- Commission
- Condemnation
- Condominium or Condo
- Confirming Loan
- Covenants, Conditions & Restrictions (CC&Rs)
- Contingency
- Contingent
- Contract
- Contract to Deed
- Counter or Counter Offer
- Counter Proposal
- Conventional Loan
F
- Fair Housing Act
- Fannie Mae – Federal National Mortgage Associations or FNMA
- Federal Housing Administration (FHA)
- FHA
- FHA Loan
- Financing Charges
- FIRPTA
- Fixed Rate Mortgage
- For-Sale-by-Owner (FSBO)
- Forbearance
- Foreign Investment in Real Property Tax Act (FIRPTA)
- Foreclosure
- Freddie Mac – Federal Home Loan Mortgage Corporation or FHLMC
- FSBO
M
- Managing Broker
- Mother-In-Law suite (MIL)
- MLS
- Mortgage
- Mortgage Interest
- Mortgage Lien
- Mortgage Note
- Mortgage Refinancing
N-O
Real Estate Acronyms
- ADU – Accessory Dwelling Unit ADU
- ARM -Adjustable Rate Mortgage
- APR – Annual Percentage Rate
- BOM – Back on The Market
- CD – Closing Disclosure
- CC&Rs — Covenants, Conditions & Restrictions
- CMA – Comparable Market Analysis
- DOL – Department of Licensing
- DOM – Day on the Market
- DOR – Department of Revenue
- EM – Earnest Money
- Fannie Mae – Federal National Mortgage Associations or FNMA
- FIRPTA – Foreign Investment in Real Property Tax Act
- Freddie Mac – Federal Home Loan Mortgage Corm or FHLMC
- FHA – The Federal Housing Administration
- FSBO – For-Sale-By-Owner
- HOA – Homeowners Association
- HELOC – Home Equity Line of Credit
- HUD – U.S. Department of Housing and Urban Development
- MIL – Mother-In-Law
- MLS – Multiple Listing Service
- NWMLS – Northwest Multiple Listing Service
- PSA – Purchase and Sale Agreement
- PMI – Private Mortgage Insurance
- REET – Real Estate Excise Tax (REET)
- RCW – Revised Code of Washington
- TOM – Temporary Off The Market
- USDA – U.S. Department of Agriculture
- VA – U.S. Department of Veterans Affairs
- WSHFC – Washington State Housing Finance Commission