FSBO-For Sale By Owner
"I just saw a FSBO down the street."
CMA-Competitive Market Analysis
"The CMA shows that the value of your home is between $250-256 thousand."
REPC-Real Estate Purchase Contract
"Please sign the REPC and return it to me."
REO-Real Estate Owned (Bank Owned)
"Please see the attached list of REO properties."
CC&R's-Covenants Conditions and Restrictions
"If you have trouble sleeping, just begin reading the CC&R's."
PR-Preliminary Title Report
"Mr. and Ms. Smith, we are now under contract and have ordered a PR."
NOI-Net Operating Income
"This investment property has an excellent NOI."
Escrow-Setting money aside either prior to, or after a closing.
"The seller has agreed to place $5,000 in escrow after closing to replace the windows."
Earnest Money-The money that you contribute with the offer that is part of your down payment.
"For this home, the seller is asking for $1,000 earnest money."
As Is-When you buy a house "as is", there are no warranties
"This property is offered for sale 'as-is'."
Rehab-refers to rehabilitation or fixing an old house.
"The rehab cost for this property would be between $25-30 thousand."
GRM-Gross Rent Muliplier
"This duplex has a GRM of 7.9."
GFE-Good Faith Estimate
"When you meet with your lender, Ms. Jones, you should receive a GFE."
GFCI-Ground Fault Circuit Interrupter
"The inspection showed the home had a faulty GFCI in the laundry room."
