| |
|
|
Damage & destruction (in a lease)
Spells out the landlord's and tenant's right to terminate
lease in case of fire, flood or other disaster. |
| |
|
| |
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. |
| |
|
| |
Debt coverage ratio
The ratio between the net income of an investment and the
amount of debt service of the investment: expressed as (NOI
/ DS = DCR). |
| |
|
| |
Debt service
The periodic payments of interest and/or pricipal on a property's
indebtedness. |
| |
|
| |
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. |
| |
|
| |
back to top |
| |
|
