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Glossary of Real Estate Terms
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| Damper |
| A movable plate in a fireplacethat 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 onpayments. 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 greater 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 one 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 agreementis 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 fungous 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. |
