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