Hilton Head Island Real Estate Terms Explained

Business woman with arrows and questions sign above isolated onBuying Hilton Head Island real estate can be an overwhelming process, especially if you are unfamiliar with the area you are searching in.

When looking for your ideal home in the Hilton Head Island area, it will be helpful to learn the meanings of the MLS listing terms you see.

Check out the various terms below to familiarize yourself with some of the terms you are likely to encounter.

Hilton Head Island Listing Terms

Status:

  • Active – available for purchase and accepting offers.
  • Contingent – seller has accepted an offer, but the sale still depends on financing and home inspection (sometimes sellers are still accepting backup offers and most of the time we are waiting on the bank to repy).
  • Pending – set to close, loan and title is in processing (sometimes sellers are still accepting backup offers).
  • Sold – home has been purchased by another buyer.
  • Withdrawn – seller has taken their home off the market temporarily.
  • Expired – the agreement between the homeowner and the listing agent has reached the pre-set expiration date, which can be renewed.

Address: Street Address – pretty self-explanatory!

Original LP: Original List Price – the price the seller initially posted for the home.

List Pr: List Price at time of Contract – the price off the offer that has been accepted by the seller (may vary from original list price).

Sales Price: the price listed on the home at the time of closing (may vary from original and sales price).

SP/LP: Sales Price/List Price – the ratio between the list and the sale price which is an indicator of the seller’s willingness to negotiate and by how much as well as the current market condition (increasing, stable, or declining).

SP/Sq ft: Sales Price/Heated Sq. Feet – the ratio between sales price the the property’s amount of square feet (this shows what is being paid per each sq.ft.).

Pending Date: date the home when under contact (when an offer has been accepted by the seller).

DOM: days on the market from the date of listing to the pending date.

RS1147_iStock_000005685528XSmallSold Date: date the sale was closed by the attorney.

Htd Sqft: heated square feet according to county tax records.

Beds: number of bedrooms in the home.

FB: number of full bathrooms in the home.

HB: number of half bathrooms in the home.

Yr Blt: year the home was built (not the date remodeled or updated).

Type: type of homesite (full/single family, patio, townhouse, manufactured, or mobile).

Prkg: type of available parking (garage, 1 car, 2 car, 3 car, 3 car+, detached, under-building parking, golf cart bay, attached, and/or carport).

View: type of view from the home (ocean front, ocean view, 2-8th {second to 8th lot from ocean or sound}, deep water, sound, marsh, creek/river, lagoon, golf, harbor, landscape, wooded, tennis courts, pool).

Forecl: short for foreclosure, meaning the bank has repossessed the home from the owner and has put it on the market.

ShortS: short sale meaning the home is listed for sale at a price lower than the amount owed on the mortgage.

Frn: the home comes furnished.

HTS: how to show the home (appointment only, call the listing agent, no appointment necessary, call the owner, call the rental company).

Hilton Head Island Area Identifiers

The Hilton Head Island listing service also uses numerical identifiers for each area. For your convenience, I have listed them here with links to more information about each area:

  1. Sea Pines Plantation
  2. Forest Beach
  3. Shipyard PlantationRS2469_iStock_000009475580XSmall
  4. Wexford Club
  5. Long Cove Club
  6. Palmetto Dunes
  7. Folly Field
  8. Port Royal Plantation
  9. Hilton Head Plantation
  10. Palmetto Hall
  11. Indigo Run Plantation
  12. Spanish Wells Plantation
  13. Windmill Harbour Plantation
  14. Off/Plantation

Questions About Other Common Hilton Head Island Real Estate Terms?

If you come across other unfamiliar real estate terms for HHI, just leave a comment below and I’ll provide a helpful response.

Until next time,

David

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