GDO… HWT… BI… WO… ELFS…?!
Confusing, we know, But this is what we’re here for! Let us help you understand and decode the confusing Realtor jargon you may or may not have read.
It’s probably best to start off by letting you know that when a realtor lists your home for sale on the MLS, they’re limited to how many characters they can use to describe your property. Some Realtors think they’re being creative using acronyms, but the issue is that it leaves many of you wondering what they even mean. Today’s review of episode 37 of #KTQuickTips is to help you decipher some of those codes to help in your search for buying a house.
ELFS -> Electrical Light Fixtures
Electrical light fixtures refer to those lights that are permanently affixed to the property and are generally included with your purchase. It is not unheard of that a seller may want to keep some of them, so make sure you know what does or does not come with the house when you’re buying it. These details will be outlined in your offer.
GDO -> Garage Door Opener
If the house you’re looking at includes GDO in the description, you will likely also be the owner of a fancy garage door opener. Be sure to specify in your offer if remotes are included and take a photo of the unit to search for the manufacturer’s instructions on reprogramming the remotes and keypad when you move in. You don’t want previous owners to have access to your home!
BI -> Built-In
This is occasionally shown as BI or B/I and always refers to built-in items such as a dishwasher, oven, microwave or anything that may have been done custom.
WO -> Walk Out
Ahhh, an above-ground basement with a lovely walk-out door. This adds lots of value to the sticker price of a house and is great for in-laws, basement apartments, etc. Keep in mind that having a walk-out basement often means that the primary backyard access from your main floor gives access to an elevated deck with stairs. It’s all personal preference, some people love it, and some don’t want it. It can be great for giving nice views of the area, but if you have kids or people who don’t like stairs, it may pose a concern.
HWT – Hot Water Tank
Of course, the builder didn’t want to include an owned water heater with your purchase, so you are now tied into a lifelong relationship with your water heater company. These contracts are VERY typical in most areas and often hard to get out of without paying a hefty fee. Make sure you find out how much it will cost before agreeing to buy the house.
Wow… this video is OLD! Adrian has more hair on his head than his chin, and Ariel is wearing a blazer. Tune into KT Confidential | The Real Estate Podcast for better-looking and wiser versions of these two studs.