Common Q&A About Selling Your Home

1. How do I prepare the house for sale?
2. Should I add on or buy a bigger home?
3. What do all of those real estate acronyms in the ads mean?

How do I prepare the house for sale?

First and foremost, put it in the best condition possible, especially if you are in a market with few buyers and lots of homes for sale. That means taking care of any major repairs that could deter a buyer (such as replacing any broken windows or replacing a leaky roof) if you can afford it. Next, work on your home's curb appeal. Make sure your landscape is pristine. Mow the grass, clean up any debris and weed the garden beds. Plant a few annual flowers near the entrance or in pots to be placed by the door. Other quick fixes that don't cost a lot of money but can help you get top dollar for your home:

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Should I add on or buy a bigger home?

Consider these questions before making a choice between adding on to an existing home or moving up in the market to a bigger house:

Ultimately, the decision should be based on individual needs, the extent of work involved and what will add the most value.

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What do all of those real estate acronyms in the ads mean?

If you find yourself stumbling over weird acronyms in a real estate listing, don't be alarmed. There is method to the madness of this shorthand (which is mostly adopted by sellers to save money in advertising charges). Here are some abbreviations and the meaning of each, taken from a recent newspaper classified section:

assum. fin. -- assumable financing

dk -- deck

gar -- garage (garden is usually abbreviated "gard")

expansion pot'l -- may be extra space on the lot, or possibly vertical potential for a top floor or room addition. Verify actual potential by checking local zoning restrictions prior to purchase.

fab pentrm -- fabulous pentroom, a room on top, underneath the roof, that sometimes has views

FDR -- formal dining room (not the former president)

frplc, fplc, FP -- fireplace

grmet kit -- gourmet kitchen

HDW, HWF, Hdwd -- hardwood floors

hi ceils -- high ceilings

In-law potential -- potential for a separate apartment. Sometimes, local zoning codes restrict rentals of such units so be sure the conversion is legal first.

large E-2 plan -- this is one of several floor plans available in a specific building

lsd pkg. -- leased parking area, may come with an additional cost

lo dues -- find out just how low these homeowner's dues are, and in comparison to what?

nr bst schls -- near the best schools

pvt -- private

pwdr rm -- powder room, or half-bath

upr- upper floor

vw, vu, vws, vus -- view(s)

Wow! -- better check this one out.

Resources:

"Real Estate's Ambiguous Language You Oughtta Understand," Glennon H. Neubauer, Ethos Group Publishing, Diamond Bar, CA; 1993.

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Copyright © 2000 Inman News Features. All rights reserved.
Revised: 12/30/06.

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Last modified: 12/30/06