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 by 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 of buying a house.
ELFS -> Electrical Light Fixtures
Electrical light fixtures refers to those lights that are permanently affixed to the property and generally include with your purchase. It is not unheard of that a seller may want to keep some of them so make sure that you know what does or does not come with the house when you’re buying it. These details would be outlined in your offer.
GDO -> Garage Door Opener
If the house you’re looking at include GDO in the description, you’re likely also going to 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 so that you can search for manufacturer’s instructions on how to reprogram 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 items that are built-in such as a dishwasher, oven, microwave or pretty much 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, 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, what seems like, a life long 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 you before agreeing to buying the house.
For more assistance deciphering some of the real estate jargon, send us an email at firstname.lastname@example.org. Don’t forget to subscribe to our YouTube channel so you can watch other #KTQuickTips!