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TermDefinition
- DadoA groove cut into a board or panel intended to receive the edge of a connecting board or panel.
- DamperA metal "door" placed within the fireplace chimney. Normally closed when the fireplace is not in use.
- DaylightThe end of a pipe (the terminal end) that is not attached to anything.
- Days on MarketDefined as the number of days from the date a property is listed for sale on the real estate brokers’ multiple listing service (MLS) to the date the seller has signed a sales contract with the buyer.
- DOMDefined as the number of days from the date a property is listed for sale on the real estate brokers’ multiple listing service (MLS) to the date the seller has signed a sales contract with the buyer.
- De-HumidistatA control mechanism used to operate a mechanical ventilation system based upon the relative humidity in the home.
- Dead BoltAn exterior security lock installed on exterior entry doors that can be activated only with a key or thumb-turn. Unlike a latch, which has a beveled tongue, dead bolts have square ends.
- Dead LightThe fixed, non-operable window section of a window unit.
- Debt ServiceThe periodic payments (principal and interest) made on a loan.
- Debt Service Coverage RatioThe ratio of cash flow available to pay for debt to the total amount of debt payments to be made. In real estate finance, DSCR is the primary measure to determine if a property will be able to sustain its debt based on cash flow. Calculated by dividing NOI (or, difference between gross revenue and operating expenses) and Debt Service (total of Principal Repayment, Interest Payments, and Lease Payments).
- Debt Coverage RatioThe ratio of cash flow available to pay for debt to the total amount of debt payments to be made. In real estate finance, DSCR is the primary measure to determine if a property will be able to sustain its debt based on cash flow. Calculated by dividing NOI (or, difference between gross revenue and operating expenses) and Debt Service (total of Principal Repayment, Interest Payments, and Lease Payments).
- DSCRThe ratio of cash flow available to pay for debt to the total amount of debt payments to be made. In real estate finance, DSCR is the primary measure to determine if a property will be able to sustain its debt based on cash flow. Calculated by dividing NOI (or, difference between gross revenue and operating expenses) and Debt Service (total of Principal Repayment, Interest Payments, and Lease Payments).
- Debt-to-Equity RatioA ratio that shows how much of a property an investor owns versus how much is owed on the mortgage. This is an important measure of ownership of a property.
- D/E, D:EA ratio that shows how much of a property an investor owns versus how much is owed on the mortgage. This is an important measure of ownership of a property.
- Debt-to-Income RatioUsed to measure a borrower’s ability to repay a loan, the ratio (expressed as a percentage) that results when a borrower’s monthly payment on all debts is divided by borrower's monthly income.
- DR, DTA, D:1Used to measure a borrower’s ability to repay a loan, the ratio (expressed as a percentage) that results when a borrower’s monthly payment on all debts is divided by borrower's monthly income.
- Deck, DeckedTo install the plywood or wafer board sheeting on the floor joists, rafters, or trusses.
- Declining PercentageA form of prepayment penalty for which the borrower pays a lump sum based on a percentage of the outstanding principal balance at the time of the prepayment. The percentage may be the same for a period of time or it may decline, e.g., five percent for year one, four percent for year two, etc.
- Dedicated CircuitAn electrical circuit that serves only one appliance (ie, dishwasher) or a series of electric heaters or smoke detectors.
- DeedA signed and sealed legal document that is used to transfer a title; typically used for real estate, automobiles, and other larger-scale purchases.
- Deed BookA book among the public records in which deeds are recorded.
- Deed-In-LieuWith the lender’s approval, a borrower may transfer the deed to a property to the lender to satisfy a debt and avoid foreclosure.
- Voluntary ConveyanceWith the lender’s approval, a borrower may transfer the deed to a property to the lender to satisfy a debt and avoid foreclosure.
- Deed-In-Lieu Of ForeclosureWith the lender’s approval, a borrower may transfer the deed to a property to the lender to satisfy a debt and avoid foreclosure.
- Deed of TrustA legal document in which the borrower transfers the title to a third party (trustee) to hold as security for the lender. When the loan is paid in full, the trustee transfers title back to the borrower. If the borrower defaults on the loan the trustee will sell the property and pay the lender the mortgage debt.
- DefaultFailure to perform a promised task or to pay an obligation when due.
- Default AmountThe unpaid principal balance of a loan as of the date of default, excluding any Negative Amortization.
- DefeasanceA form of prepayment penalty for which the borrower is required to purchase and deposit with the lender substitute collateral, such as a Treasury security that matches the principal and interest payments of the prepaid loan and thereby sufficiently services the debt of the prepaid loan.
- Defect In TitleWhere the title to real estate or documents relating to that title are found to be incorrect.
- Defects Liability PeriodThe specified period of time within which the contractor is required, at his or her own cost, to rectify any defects in the completed works, arising due to faulty materials or workmanship and notified in writing. The period commences from the date of issue of the €˜certificate of practical completion’ and lasts for the period stated in the contract.
- Deferred MaintenanceMaintenance that is due to be carried out in the current financial year but which will not be carried out because of a shortage of funds or unavailability of parts. Deferred maintenance should be added to the backlog of maintenance items awaiting attention.
- Deficiency JudgementA court order to pay the balance owed on a loan if the proceeds from the sale of the security are insufficient to pay off the loan. Deficiency judgments are not allowed in all states.
- DelaminationSeparation of the plies in a panel due to failure of the adhesive. Usually caused by excessive moisture.
- DelinquencyFailure to make a payment when it is due. The condition of a loan when a scheduled payment has not been received by the due date, but generally used to refer to a loan for which payment is 30 or more days past due.
- DemolitionOr "Demo". Construction work to remove existing fixtures, walls, or other structures to prepare a space for renovation. Demolition entails destroying a structure or element. For example, removing a wall to achieve an open floor plan or tearing down an old shed to make room for a new build.
- DemoOr "Demo". Construction work to remove existing fixtures, walls, or other structures to prepare a space for renovation. Demolition entails destroying a structure or element. For example, removing a wall to achieve an open floor plan or tearing down an old shed to make room for a new build.
- Department of Veterans AffairsAn independent agency of the federal government that guarantees long-term, low- or no-down payment mortgages to eligible veterans.
- VAAn independent agency of the federal government that guarantees long-term, low- or no-down payment mortgages to eligible veterans.
- DepositA sum of money given to bind a sale of real estate. Also known as earnest money.
- Earnest MoneyA sum of money given to bind a sale of real estate. Also known as earnest money.