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Frequently
Asked Questions
Glossary
of Real Estate Terms
Glossary for "D"
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
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.
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.
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.
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.
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.
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-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.
Dutch
colonial style
A design that features barn-like gambrel roof, a ground-level front
porch, and dormers.
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