Damper A movable plate in a
fireplace that allows smoke and fumes to
travel up the chimney's flue.
Days on the market The period
of time a property is listed for sale until
it is sold or taken off the market
Deadbolt lock Locks that
require a key to open from the outside and a
turn button from the inside.
Debt Any amount one person owes
to another.
Deck A roofless, floored area
that adjoins a house.
Deed The legal document that
transfers ownership of a piece of property.
Deed in
Lieu A Deed in lieu of foreclosure
is a
deed instrument in which a mortgagor
(i.e., the borrower) conveys all interest in
a
real property to the mortgagee (i.e.,
the lender) to satisfy a loan that is in
default and avoid
foreclosure proceedings.
Deed of trust A document that
gives a lender the right to foreclose on a
piece of property if the borrower defaults
on the loan.
Deep-seal floor drain A drain
used to dispose of water from the basement
floor to a sewer line.
Default The failure to fulfill
a duty or promise or discharge an
obligation, such as making monthly mortgage
payments.
Deferred maintenance Any repair
or maintenance of a piece of property that
has been postponed, resulting in a decline
in property value.
De Jure Latin. Of
right; legitimate; lawful; by right and just
title.
Delinquent mortgage A mortgage
that involves a borrower who is behind on
payments. If the borrower cannot bring the
payments up to date within a specified
number of days, the lender may begin
foreclosure proceedings.
Demise A conveyance
of an estate to another for life, for years,
or at will; lease.
Density test An analysis of
soil to determine if the surface can support
the foundation of a house.
Dentils Small rectangular
blocks that project from a building, usually
under cornices or along rooflines.
Deposit Money given by the
buyer with an offer to purchase property.
Also called earnest money.
Deposition The
testimony of a witness taken upon
interrogatories, not in court, but intended
to be used in court.
Depreciation The decline in
value of a piece of property.
Design/build A project in which
the owner contracts directly with an
individual or company to perform design and
construction.
Designer Unlike architects,
designers are limited to drawing blueprints.
Devise A testamentary
disposition of land or realty; a gift of
real property by the last will and testament
of the donor.
Digital images Images that are
incorporated into house listings to give
potential buyers a view of the property.
Dimension plans Plans which
show the layout of a house but are less
detailed than full blueprints.
Disability insurance An
insurance policy which covers an
individual's ability to produce income.
Disclosure A statement to a
potential buyer listing information relevant
to a piece of property, such as the presence
of radon or lead paint.
Discount points Fees that a
borrower pays at the time the lender makes
the loan. A point equals 1 percent of the
total loan amount.
Distressed property Property
that is in poor physical or financial
condition.
Document needs list A list of
documents a lender requires when a potential
submits a loan application.. The required
documents range from paycheck stubs to
credit card statements.
Domed ceiling A hemispherical
ceiling that projects upward without
support.
Domicile A person's primary or
permanent home.
Dormer A window set upright in
a sloping roof.
Double-hung window A window
that consists of two sashes that slide up
and down.
Dovetail joints Joints that
lock two pieces of wood together with meshed
teeth.
Dower rights An
estate for life of the widow in certain
portion of the estate of her husband, to
which she has not relinquished her right
during the marriage.
Down payment The amount of
money a buyer agrees to give the seller when
a sales agreement is signed. Complete
financing is later secured with a lender.
Down spouts A vertical gutter
that empties water from the roof to the
ground.
Drainage A system of gutters
and drainpipes that carry water away from
the foundation of a house.
Draw A payment made to
subcontractors or suppliers from a
construction loan.
Dropped ceiling A flat ceiling
built lower than the original ceiling.
Dry rot A fungal decay that
causes wood to become brittle and crumble.
Drywall A construction material
composed of gypsum or plaster wrapped in
paper and produced in large sheets that can
be nailed to wall studs.
Dual agency A relationship in
which a real estate agent or broker
represents both parties in a transaction.
Duct Any kind of pipe or
channel that carries water, wiring or
conditioned air through a house.
Due Diligence The act
of responsibility to another.
Due-on-sale clause Standard
language in a mortgage which states that the
loan must be paid when a house is sold.
Duplex A structure that
consists of two separate family units.
Duress Unlawful
constraint exercised upon a person, whereby
he is forced to do some act against his
will.
Dutch colonial style A design
that features barn-like gambrel roof, a
ground-level front porch, and dormers.
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