11/20/2025

Jeff Lichtenstein

Nov 20, 2025

Suede Sandwich RE Lingo

The next time you are in a hotel, take a look at the back of the drapery lining. If you see the color of ecru on one side of the suede, and another side is white suede, along with the flimsiest of cheesecloths in between, you’ll know you are in the presence of a Cary Lichtenstein invention. Many a year from now when my dad has moved on to a better place, his invention of the “Suede Sandwich” will live on from the finest 5-star hotels to the seediest. Dad’s presence is always protecting against the light so you get a good night sleep. Oh, the stories that Suede Sandwich could tell.

The textile business had all sorts of lingo. Drapery linings were like the Bubba Gump shrimp restaurant. There must have been 70 different linings. One pass or two pass or even three passes of foam blackout. AKA as suede. Cheesecloth. There were sateen’s and interlinings (for the well to do of society). Other lingo terms were thread counts, 2 ply (which also doubles as toilet paper lingo), chintz, 13 ½ repeat, scrim, Shabby Chic. FR for flame retardant. Ducks back was a drapery lining where the water rolled off the fabric meaning it was water repellent.

Speaking of ducks, baseball has the duck snort hit which is kind of a blooper that flows between the infielder and the outfielder. Ducks in a row is jargon for getting everything in order. And a bad doctor is a quack.

In the news industry the cockroach theory (in Palm Beach it would be the palmetto bug theory) which is that bad news to the public means more bad news is coming. Football has its own language. The nickel back (because there are 5 defensive backs used and 5 is also a nickel) or the 46 D.

Real estate has its own lingo as well. Here are 51 real estate lingo words or acronyms that you may or may not know.

Buyer-Focused Terms

1. Closing Costs – Nobody likes these. Expenses buyers and sellers pay at the close of a real estate transaction.

2. Contingency – A condition that must be met before the sale can close (e.g., financing, inspections). A tip here for sellers: If you are selling a home based on a contingency, make sure to read the buyer’s contract on their home through. At times, I’ve seen a domino effect where one contingency actually depends on another falling through.

3. Earnest Money – A deposit showing the buyer’s good faith to purchase the home. From a seller’s perspective, 10% is a fantastic deposit. 5% gets a bit risky. Lower than that and you are playing Russian Roulette as you don’t have much leverage if things go sideways.

4. Escrow – A neutral third party that holds funds and documents until the deal closes. Basically, the money is in no man’s land, and neither party can release the funds without a process.

5. Pre-Approval – A lender’s written commitment stating how much a buyer qualifies for. Word to the wise: Anyone can get a pre-approval, so don’t bank on just that. The firm loan commitment is what you want. A pre-approval is like showing up with a dating profile on Tinder. The firm loan commitment is getting the ring.

6. Equity – The difference between the home’s market value and what is owed on the mortgage. If you pay cash, you have 100% equity. If you get a 100% loan and the value goes down, you’re “underwater.”

Seller-Focused Terms

7. Comparative Market Analysis (CMA) – An estimate of a home’s value based on similar recent sales.

8. FSBO (For Sale By Owner) – A property sold directly by the owner without using a real estate agent. Real estate agents’ frenemy. 90% of them end up listing with an agent.

9. Staging – Preparing a home for sale by enhancing its appearance to appeal to buyers.

10. As-Is – A property being sold in its current condition with no repairs or warranties. Also refers to the As-Is contract, which allows the buyer to cancel at their sole discretion within the inspection period.

Market Terms

11. Buyer’s Market – More homes than buyers. Buyers can flex their muscles.

12. Seller’s Market – More buyers than homes. Sellers can flex their muscles.

13. Flex – The MLS portal Realtors use internally. We gather info here so we can all flex our muscles in negotiations.

14. DOM (Days on Market) – How long a property is listed before going under contract. Longer in offseason, shorter in season.

15. Inventory – Number of homes available for sale.

16. Turnkey – Move-in ready home. The whole kit and caboodle — furniture, silverware, everything.

Transaction & Financing Terms

17. Appraisal – An expert evaluation of a property’s value, usually required by lenders. Only licensed appraisers can do this.

18. Underwriting – The lender assessing the buyer’s risk before approving a loan.

19. Refinancing – Replacing an old mortgage with a new one to get a better rate. Not common now with 3–4% legacy loans.

20. Principal – The original loan amount (excluding interest).

21. Rate Lock – Securing an interest rate for a fixed period to avoid increases. Those who waited for rates to drop during Fed cuts learned the opposite can happen.

22. Short Sale – When the seller is underwater and the lender accepts a price below payoff.

Property Descriptions

23. Curb Appeal – How the home looks from the street. Plant flowers and mulch it up!

24. Fixtures – Attached items included in the sale. Exclude them in the contract if you’re keeping them.

25. Easement – A legal right for someone to use part of another’s property.

26. Setback – Required distance from the road, property line, etc.

27. HOA (Homeowners Association) – Governing body with rules and fees. Florida even has a bill to eliminate them. Can’t live with ’em, can’t live without ’em.

28. Primary Bedroom – Formerly the MASTER bedroom.

29. Frame – Wood-frame construction used commonly before 1992. Survived hurricanes well.

30. CBS – Concrete Block Structure — Florida favorite.

31. HVAC – Heating, Ventilation, Air Conditioning. (Why does AC get two words? Should be HVA or VAC!)

Negotiation & Deal Terms

32. Counteroffer – A response with new terms. Also known as “go pound salt.”

33. Multiple Offers – Several buyers bidding. Sellers = driver’s seat. Husbands = high risk of never hearing the end of it.

34. Escalation Clause – Automatically raises a buyer’s offer based on competing bids. Marriage saver if used wisely.

35. Lowball Offer – An offer far below asking price. (“The b**tards!”)

36. Closing Disclosure (CD) – Final loan terms and costs.

37. CMA – Comparative Market Analysis (not the Country Music Awards).

38. BBA (Buyer’s Broker Agreement) – Agreement outlining compensation and obligations. Mandatory today.

General Real Estate Jargon

39. Condo Commando – The HOA/condo board enforcer. Excellent at demanding you move a plant 4 centimeters.

40. Pocket Listing – Property marketed privately and not on the MLS.

41. Off-Market – Not listed but might be available (aren’t they all at the right price?).

42. MLS (Multiple Listing Service) – Where agents list/search for homes. (For Messi, it involves scoring goals.)

43. PAPA – Palm Beach County Property Appraiser.

44. Title Search – Review ensuring the title is clear.

45. Deed – Legal document transferring ownership. If it’s a bad deed, someone messed up the title search.

46. SFH – Single Family Home.

47. TH – Townhouse — up and down, attached unit.

48. Condo – Vertical ownership. If it leaks from above, yell at the neighbor. If it leaks in a TH, yell at your spouse.

49. Supra Lockbox – Cost Al Gore the presidency (but opens doors for Realtors).

50. PITA – Pain in the a**. Universal across all industries.

51. Seasonal Renter – Clogs restaurants and terrorizes roundabouts January–March.

Hopefully, understanding the real estate lingo might help you out of a pickle, next time you are conducting a transaction and feel sandwiched in. Lettuce at ECHO put on those blue suede shoes to celebrate.