If you are new to real estate investing, you may often encounter acronyms when skimming through classified ads, while discussing with banks/brokers/other seasoned real estate professionals, or even while driving past a house that has a for sale sign.
While some acronyms can be easily deciphered, others may take some serious searching to find what they stand for. I know how it feels to be the only person in a discussion that does not know what something means, it can be a dead giveaway that you are a newbie when it comes to real estate.
To help save us from the trouble, I have started compiling a list of local real estate related acronyms and what they stand for, as most often used here in the Philippines.
AP - Asking price
APT - Apartment
ARV - After Repair Value
AV - Appraised Value
BR - Bedroom
CAR - Certificate authorizing registration
CCT - Condominium Certificate of Title
CF - Cost Factor
CG - Car Garage
CGT - Capital Gains Tax
CLOP - Contract of Lease with Option to Purchase
CRB - Certified Real estate Broker
CTC -Community Tax Certificate
CTS - Contract-To-Sell
CWT - Creditable Withholding Tax
DBO - Direct Buyers Only
DOAS - Deed Of Absolute Sale
DP - Down Payment
DR - Door
DST - Documentary Stamps Tax
FMV - Fair market Value
FSBO - For Sale By Owner
HOA - Home Owners Association
HVAC - Heating Ventilation and Air Conditioning
ISP - Indicative selling Price
LTV - Loan To Value
MA - Monthly Amortization
MAO - Maximum Allowable Offer
MBP - Minimum Bid Price
MR - Maids Room
MRI - Mortgage Redemption Insurance
NOI - Net Operating Income
OP - Over Pricing
PITI - Principal Interest Taxes and Insurance
PS - Parking Slot
RD - Registry of Deeds
REB - Real Estate Broker
REIT - Real Estate Investment Trust
REO - Real Estate Owned
RFO - Ready For Occupancy
RM - Room
ROI - Return On Investment or Return Of Investment
ROPOA - Real and Other Properties Owned or Acquired
RPT - Real Property Tax
T&B - Toilet and Bath
TCT - Transfer Certificate of Title
TT - Transfer Tax
VAT - Value Added Tax
I have also added useful links to more detailed explanations for acronyms and terms and I shall continue to add new links as they become available. This is a work in progress so if you can't find an acronym in this list, or if you need more details for an acronym or term, just leave a comment and I'll ask around from friends and contacts who are veterans in the real estate business, then I'll include them here.
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