Acronymania!

Acronyms, Jargon, and Gibberish you should know in Commercial Real Estate:

AIREA – American Institute of Real Estate Appraisers
ALTA – American Land Title Association
ANSI – American National Standards Institute
AOR – Association of Realtors
ARES – American Real Estate Society
ASA – American Society of Appraisers
ASHI – American Society of Home Inspectors
BD – Book Depreciation
BFP – Bona Fide Purchaser
BRR – Book Rate of Return
CAM – Common Area Maintenance (charges related to commercial leases)
CC – Civil Code
CGT – Capital Gains Tax
CH/BW – Chain Link/Barbed Wire
CO – Certificate of Occupancy
COE – Cost of Equity
CUV – Current Use Value
DD214 – Used to discharge service members in the 1950s
DIM – Deferred-Interest Mortgage
DRC – Depreciated Replacement Cost
DS – Due on Sale (clause)
EAL – Exclusive Agency Listing
ERV – Estimated Rental Value
FDR – Formal Dining Room
FMV – Fair Market Value
FP – Fireplace
FPM – Flexible-Payment Mortgage
FRM – Fixed-Rate Mortgage
FRV – Full Rental Value
FSBO – For Sale By Owner
GPM – Graduated Payment Mortgage
GRM – Gross Rent Multiplier
HDW – Hardwood Floors
HECM – Home Equity Conversion Mortgage
HEL – Home Equity Loan
HOA – Home Owners’ Association
HUD – (Department of) Housing and Urban Development
HWF – Hardwood Floors
HVAC – Heating, Ventilation, and Air Conditioning
LIBOR – London Interbank Offered Rate
LTV – Loan To Value (Ratio)
LUI – Land Use Intensity
MBA – Mortgage Bankers Association of America
MBB – Mortgage-Backed Bond
MBO – Mortgage-Backed Obligation
MBS – Mortgage-Backed Security
MGIC – Mortgage Guaranty Insurance Corporation
MLS – Multiple Listing Service
MMI – Mutual Morgage Insurance
MPC – Master Planned Community
MRA – Master Residential Appraiser
MSA – Master Senior Appraiser
NHBC – National House Building Council
NIA – Net Internal Area
NIM – Net Income Multiplier
NLA – Net Leasable Area
NNN – Triple Net (Lease)
NOI – Net Operating Income
NPV – Net Present Value
NRV – Net Realizable Value
OBO – Or Best Offer
OER – Operating Expense Ratio
OIRO – Offers In the Region Of…
PCD – Planned Commercial Development
PEPS – Political, Economic, Physical, Social (forces that drive value)
PHA – Public Housing Administration
PID – Planned Industrial Development
PITI – Principal, Interest, Taxes, and Insurance
PMDT – Purchase Money Deed of Trust
PMI – Private Mortgage Insurance
PO – Principal Only
PSF – Per Square Foot
PV – Present Value
PW – Present Worth
RAM – Reverse Annuity Mortgage
REA – Reciprocal Easement Agreement
REIT – Real Estate Investment Trust
REC – Real Estate Commission
REO – Real Estate Owned
ROM – Roll-Over Mortgage
SAM – Shared-Appreciation Mortgage
SEM – Shared-Equity Mortgage
SFD – Single Family Detached
TPL – Third Party Liability
TI – Tenant Improvement
TIC – Tenants In Common
TIP – Treasury Investment Program
TRA – Tax Reform Act
VA – Veterans Administration (Loan)
VAP – Variable Payment (Mortgage)
VAT – Value Added Tax
VPM – Variable-Payment Mortgage
VRE – Virtual Real Estate
VRM – Variable-Rate Mortgage