Glossary |
Terms that are on use on this site.
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| There are 41 entries in the glossary. |
| Pages: 1 |
| Damper | A movable plate in a fireplace that allows smoke and fumes to travel up the chimneys flue. |
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| Days on the market | The period of time a property is listed for sale until it is sold or taken off the market |
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| Deadbolt lock | Locks that require a key to open from the outside and a turn button from the inside. |
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| Debt | Any amount one person owes to another. |
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| Deck | A roofless, floored area that adjoins a house. |
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| Deed | The legal document that transfers ownership of a piece of property. |
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| 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. |
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| Deep-seal floor drain | A drain used to dispose of water from the basement floor to a sewer line. |
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| Default | The failure to fulfill a duty or promise or discharge an obligation, such as making monthly mortgage payments. |
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| Deferred maintenance | Any repair or maintenance of a piece of property that has been postponed, resulting in a decline in property value. |
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| 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. |
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| Density test | An analysis of soil to determine if the surface can support the foundation of a house. |
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| Dentils | Small rectangular blocks that project from a building, usually under cornices or along rooflines. |
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| Deposit | Money given by the buyer with an offer to purchase property. Also called earnest money. |
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| Depreciation | The decline in value of a piece of property. |
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| Design/build | A project in which the owner contracts directly with an individual or company to perform design and construction. |
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| Designer | Unlike architects, designers are limited to drawing blueprints. |
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| Digital images | Images that are incorporated into house listings to give potential buyers a view of the property. |
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| Dimension plans | Plans which show the layout of a house but are less detailed than full blueprints. |
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| Disability insurance | An insurance policy which covers an individuals ability to produce income. |
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| Disclosure | A statement to a potential buyer listing information relevant to a piece of property, such as the presence of radon or lead paint. |
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| 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. |
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| Distressed property | Property that is in poor physical or financial condition. |
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| 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. |
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| Domed ceiling | A hemispherical ceiling that projects upward without support. |
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| Domicile | A persons primary or permanent home. |
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| Dormer | A window set upright in a sloping roof. |
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| Double-hung window | A window that consists of two sashes that slide up and down. |
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| Dovetail joints | Joints that lock two pieces of wood together with meshed teeth. |
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| 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. |
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| Down spouts | A vertical gutter that empties water from the roof to the ground. |
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| Drainage | A system of gutters and drainpipes that carry water away from the foundation of a house. |
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| Draw | A payment made to subcontractors or suppliers from a construction loan. |
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| Dropped ceiling | A flat ceiling built lower than the original ceiling. |
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| Dry rot | A fungal decay that causes wood to become brittle and crumble. |
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| Drywall | A construction material composed of gypsum or plaster wrapped in paper and produced in large sheets that can be nailed to wall studs. |
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| Dual agency | A relationship in which a real estate agent or broker represents both parties in a transaction. |
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| Duct | Any kind of pipe or channel that carries water, wiring or conditioned air through a house. |
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| Due-on-sale clause | Standard language in a mortgage which states that the loan must be paid when a house is sold. |
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| Duplex | A structure that consists of two separate family units. |
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| Dutch colonial style | A design that features barn-like gambrel roof, a ground-level front porch, and dormers. |
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