Like professionals in any field, real estate agents have a certain language. Knowing some of these common terms—and what they might really mean—can help you navigate home listings…and potentially avoid some house hunting heartbreak.
Quaint and/or Charming
This term is commonly used as a euphemism for a home that’s either small or dated. While those retro appliances and dark crown molding may seem “charming” in theory, replacing them might be a hassle and an expense you aren’t prepared for. If you’re seeking a move-in ready place with contemporary features, chances are a listing described this way isn’t for you.
Great for Investors
If you’re actually looking for an investment property, this one might be worth a look. But there’s also a chance that it means the unit either has a tenant in it currently, which can cause complications for the sale, or that it’s located in a building with a high rate of transient tenants. If this would bother you as a homeowner, you might want to take a pass.
Sold “As-Is”
This term is normally used when negotiation isn’t permitted. With these properties, essentially what you see is what you get. This means that a leaky roof, foundation or interior damages, or anything else unpleasant, comes with the home…and you won’t get a break on the price because of it.
DIY-Lover’s Dream
If you’re truly in the market for a teardown or a place you can gut and make your own, this might be a listing worth checking out. If not, you might want to move on. Anything with the word DIY in it likely means that there are lots of opportunities for renovating or updating. In fact, it might mean they’re required in order to make the place liveable at all.
