Residential Real Estate

Acronyms, Abbreviations and Terminology

Here are some important terms used in the world of Residential Real Estate.

EMD

An earnest money deposit is submitted to an escrow account (see below) when an offer is accepted for the sale of a home.

Escrow

When one makes an offer on a home, earnest money is submitted along with the accepted sales contract. That earnest money goes into an escrow account, which is usually held at a title company in our area. Homes that are under contract are said to be “in escrow.”

HOA

Homeowners association or homes association. HOAs typically have monthly or yearly dues which cover the costs of the amenities that the association provides homeowners. Learn more about HOAs here.

MLS

Multiple Listing Service. A service that real estate agents pay to use where they can list their homes for sale and search for homes for home buyers.

JoCo

Johnson County, Kansas

WyCo

Wyandotte County, Kansas