Your Guide To Understanding Common Real Estate Terms
Like any major industry, real estate has a vocabulary all its own. If you are unfamiliar with many of the common terms, it may be hard for you to keep up with the real estate jargon tossed around by your Lake of the Ozarks real estate agent and other professionals. We have a great deal of experience working with both buyers and sellers who are either new to the market or who haven't bought/sold in many years, and we are sympathetic to the challenges they may experience. That's why we're dedicating this week's blog to defining some of the common real estate terms, acronyms, and abbreviations. Keep this as a reference guide for the next time you plan to buy or sell a house at the Lake of the Ozarks . Common Real Estate Acronyms: 2B/2B: Two Bedrooms, Two Bathrooms (exact numbers vary) ARM: Adjustable Rate Mortgage CMA: Comparative Market Analysis COO (or C of O): Certificate of Occupancy DTI: Debt to Income Ratio FHA: Federal Housing Administration FRM: