Buying or selling? Test your knowledge of real estate lingo

Words and acronyms like Fab pentrm and FDR have your head spinning? Or, do you think you know it all. Find out below.

Quiz tools

  • 1. Here is an easy one to start. What would 4B/2B mean if you saw it in a real estate listing?

    • A. The property has four bathrooms and two bedrooms.

    • B. The property includes two units (4B and 2B) in a condo complex.

    • C. The property has four bedrooms and two bathrooms.

    • D. There is currently four to two other buyers interested in the property.

  • 2. If your agent told you the house was in a MLS, what does that mean?

    • A. The house is on a Multiple Listing Service database so other real estate agents can find it.

    • B. The house is Major League Status, meaning it is really hot property.

    • C. The house is a Manufacturing Licensed Structure. This means you can run a business from the property.

  • 3. You see your newly listed home or you want to look at a home for sale and the description says one of the following: vw, vu, vws, vus. What do these mean?

    • A. The property has some sort of code violation.

    • B. The property comes with a nice view.

    • C. A Volkswagen car is being included in the sale.

    • D. The house features a lovely vestibule.

    • E. The owner/seller is completely vested in getting rid of the property as soon as possible.

  • 4. You can't afford a brand new home and all the listings you are seeing in your price range have pot'l. What does this say about the property?

    • A. The house has no indoor plumbing. You'll have to gett a port-a-potty.

    • B. House is being sold point-of-transition style, meaning a payment - in cash only - is due at closing.

    • C. The house may not look pretty but has hidden potential.

    • D. Pot'l means the owner will potentially lease it to you if you can not afford to buy it.

  • 5. Someone makes an offer on your house but with a contingency. What is happening when buyers ask for a contingency?

    • A. It means as soon as you sign it, the contract will be fully legalized.

    • B. People want to buy your house but want the freedom to walk away if they simply change their mind.

    • C. They want to buy your house but at a later date. Like a year from now.

    • D. It means the contract won't be legally binding until you do something the buyer is asking for.

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