Glossary of terms used on this site
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| Term | Definition |
|---|---|
| Days On Market |
The period of time a property stays on the market until it is sold or has expired from the time it was listed.
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| Debt |
An obligation to pay something owed such as money, goods or services to a person or organization.
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| Debt Coverage Ratio |
The Net Operating Income divided by Debt Service, measuring the margin of safety for the lender in assuring that money will be available to service his loan.
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| Debt Service |
The repayment of interest and principal of a debt.
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| Debt-to-Income Ratio |
The relationship between monthly income and minimum monthly debt payments; frequently used by financial institutions as an indicator of a borrower's ability to take on additional debt.
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| Deed |
A legal document signed, witnessed, and delivered to show a conveyance or transfer of property.
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| Deed Restrictions |
Limitations placed in the deed that state specific ways the property can or can’t be used.
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| Default |
The general failure to perform a legal or contractual duty or to discharge an obligation when due.
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| Defective Title |
A title that fails to transfer ownership due to a publicly recorded defect or flaw.
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| Demographics |
A statistical view of a population, generally including age, gender, race, income, schooling, occupation, population growth and density etc.
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| Depreciation |
Expense allowance made for wear and tear on an asset over its estimated useful life.
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| Designated Agent |
The party selected to represent a principal/client by the acting Broker of a real estate firm.
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| Detached Housing |
A residential dwelling unit that is surrounded by freestanding walls and is generally sited on a separate lot.
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| Disclosure |
The revealing of all known material facts that may be hidden.
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| Discount Points |
An added loan fee charged by a lender to make the yield on a lower than market value loan competitive with higher interest rate loans. One point is equal to one percent of the loan.
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| Discount Rate |
A rate that expresses the correlation between the dollars transmitted from a lender to a borrower and the amount that must be repaid by the borrower.
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| Distraint |
The legal right of a landlord to seize the property of a tenant in the event of nonpayment of rent.
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| Due Diligence |
To perform in a reasonable and responsible manner. The research and analysis of a business or real estate transaction.
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| Duplex |
A single building improvement that is divided into two living units or residences, usually having separate entrances.
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