ELF’S, GDO’S AND DOM - Real Estate Acronyms You Should Know When Buying or Selling Your Home
Friday Sep 21st, 2018
As realtors, it’s safe to say we occasionally assume everyone knows the terms we use daily. I’m lucky to work with some fantastic brokers and salespeople so on behalf of all of us, let me apologize if you’ve ever for second thought that along with the appliances and window coverings you were also purchasing an ELF with your new home.
Here are a few acronyms we use along with their meanings. Hopefully you read this before you clear a spot on the shelf.
ELF’s – refers to Electric Lights Fixtures currently attached to the home. This includes but is not limited to ceiling lights, fans, chandeliers, pot lights and bathroom vanity lighting, In some cases, sellers may exclude a specific light fixture, you’ll find this information under the inclusions and exclusions section of your agreement.
GDO - garage door opener (easy one)
DOM – this information is usually located at the top of the MLS listing data sheet and refers to Days on Market. How long has the property been listed. You can ask your realtor to dig deeper and provide you with and history on the property. Including if the property has been cancelled and relisted.
APAS – Agreement of Purchase and Sale This refers to your agreement once you have purchased or sold a property. Your mortgage broker and lawyer will need a copy of your APAS
Have questions about real estate? We are here to help, reach out to one of our team members and we’ll do our best to help.