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Real Estate Dictionary
Welcome > Resources > Real Estate Dictionary - A

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

D

Deed

A written document that conveys the ownership of real estate from one person or party to another

Deed-in-lieu, or Deed-in-lieu of foreclosure

A deed given by a mortgagor to the mortgagee when the mortgage is in default, to avoid foreclosure

Deed of trust

A written document that grants a trustee, in the event of foreclosure, the full power to sell, mortgage and subdivide the property in question

Deed Restriction

A clause in a Deed that limits the uses of the property (e.g., types or quantities of structures permitted)

Default

The failure to meet the legal obligations in a contract; in real estate, failure to pay mortgage payments as scheduled or to comply with other stipulations of the mortgage

Deferred interest

Interest on a mortgage which is delayed because the monthly payment of the mortgage is not large enough to cover the entire principal and interest due, and therefore is added to the loan balance See "negative amortization"

Deficiency judgment

A claim made by the holder of a note against the maker, in the event that a foreclosure sale does not bring in enough proceeds to fully cover the note and the costs of sale, for the difference

Delivery

The final, unconditional and absolute transfer of a Deed from seller to buyer, such that the seller cannot revoke the transfer of ownership; the Deed itself does not pass title until the seller delivers it to the buyer

Depreciation

A decline in the value of property, due to any cause; the opposite of appreciation Also an expense deduction taken for tax purposes over the period of owning income property

Devise

To dispose or convey ownership of real property via a will

Disclosure

A statement of facts made by the buyer about the condition of a property being sold and its surrounding area, required by law in most US states

Discount point

A unit of measurement used for loan charges, with one point equaling 1 percent of the value of the loan

Dower

The rights of a spouse to the property of their deceased spouse

Down payment

The amount of the purchase price of a property paid in cash (i.e. not financed with a mortgage) that is required to secure the property; typically 20%

Dual agency

Representation of opposing parties in a transaction (e.g. when a realtor is the agent for both buyer and seller); requires consent of both parties to be allowed, and is illegal in some US states

Due-on-sale clause

A provision in a mortgage allowing the lender to demand payment of the entire balance of the note if the mortgagor sells or otherwise transfers the property

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z



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Real Estate Tips
Accepting An Offer >Responding to Low Offers

The beginning of negotiations is usually the end of many months of hard work for the buyer or seller. The work ahead requires skill in order to maintain a strong position.

Sellers can lose their advantage if they do not counter an offer that a buyer has made. Even if the opening offer is beneath what the seller feels is reasonable, it is advisable for the seller to respond with a slight reduction from the asking price. The most important component in negotiating is good communication.

The best way to handle a low offer is to counter it with definite terms that are favorable to the seller. A counter offer has two advantages: 1) it keeps the buyer interested, and 2) it moves the negotiation forward and gives the buyer the opportunity to submit another offer that the seller is more likely to prefer.

See All Tips In The "Accepting An Offer" Category >
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Real Estate Trivia
Q 
What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?

A 
One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million.
See More Real Estate Trivia >


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Ursula Dahle, REALTOR®, real estate agent and broker for Woodstock, Towne Lake and Cherokee County, Georgia home listings, property and land for sale - NUMBER1EXPERT

Ursula Dahle
Keller Williams Realty Platinum Partners

220 Heritage Walk, Suite 101
Woodstock, GA. 30188
Direct: 678-569-4044
Main Office: 678-494-0644
Fax: 678-484-4044
Direct Fax: 678-484-4044
Email Ursula: ursula@callursula.com
Email Renee: renee@reneepruitt.com

Accessibility is what we are all about. When you want to buy or sell a home, you want to know that your REALTOR® is there and working for you. Why do some agents have all of the listings and others are just getting by with a few? It's the Experience, Service, and Results that a good REALTOR® brings to the table.

I specialize in the sale and marketing of residential real estate and have lived in this area for many years. My team understands your needs and wants the outcome of your transaction to be as smooth as possible. Whether you are buying or selling a home, we are there for you.

Equal Housing MLS REALTOR


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