1. BMV – Below Market Value properties are residential properties available for sell at a price below their actual market value. This is usually because the owners of such property need to sell their property very quickly.
2. DD – Due Diligence is a period available in the purchase agreement, which is a time frame provided to a buyer to fully examine a property, often by hiring experts to inspect the property, perform tests, etc., so that a buyer may decide on how to proceed.
3. JV – A joint venture is a commercial arrangement between two or more participants who agree to co-operate to achieve a particular objective. Joint ventures cover a wide range of collaborative business arrangements which involve differing degrees of integration, and which may be for a fixed or indefinite duration.
4. LH – Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given length of time.
5. HOA –A homeowner’s association is a private association that manages a planned community or condominium. When you purchase a property that is managed by an HOA, you agree to abide by the HOA’s rules and pay its monthly or annually HOA dues. If you fail to pay and/or comply, they often can file a lien against the property and/or foreclose on the property.
6. ROI – Return on Investment a mathematical formula that investors can use to evaluate their investments and judge how well a particular investment has performed compared to others. An ROI calculation is sometimes used with other approaches to develop a business case for a given proposal.
7. EH –The escrow holder is the agent and depositary (impartial third-party) who collects the money, written instruments, documents, personal property, or other things of value to be held until the happening of specified events or the performance of described conditions, usually set forth in mutual, written instructions from the parties.
8. SDLT – You usually pay Stamp Duty Land Tax (SDLT) on increasing portions of the property price when you buy residential property, for example a house or flat. SDLT only applies to properties over a certain value.
9. PP – Planning permission is the legal process of determining whether proposed developments should be permitted. Responsibility for planning lies with local planning authorities (usually the planning department of the district or borough council). The legislation, policy and guidance that underpins planning in England can be found on the government’s National Planning Practice Guidance website.
10. TB – A tenant buyer is a future purchaser that has the option to purchase a property at an agreed price within an agreed timescale. During this time, they will have many of the benefits of a traditional homeowner without having to qualify for a mortgage to get started.