Tuesday, March 2, 2010

REAL ESTATE 101 GLOSSARY "D" - OAKVILLE HOMES



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
Deck
A roofless, floored area that adjoins a house.
Deed
The legal document that transfers ownership of a piece of property.
Default
The failure to fulfill a duty or promise or discharge an obligation, such as making monthly mortgage payments.
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.
Designer
Unlike architects, designers are limited to drawing blueprints.
Disclosure
A statement to a potential buyer listing information relevant to a piece of property, such as the presence of radon or lead paint.
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.
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.
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.

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