You've probably heard some real estate terms and are wondering what in the world they mean. Use this glossary to look them up! If you are wondering what a word or phrase means and I don't have it in the glossary, please send me an email asking!

Days on the Market
The period of time a property is listed for sale prior to being sold or taken off the market.

Deed
Legal document that formally conveys ownership of property from seller to buyer.

Delinquent mortgage
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.

Deposit
Money given by the buyer with an offer to purchase property. Also called earnest money.

Disclosure
Information provided by Seller to prospective buyers about the home & its condition that could have a material effect on their decision to buy or not buy the property. Some is required by law.

Dormer
A window set upright in a sloping roof.

Double-hung Window
A window that consists of two sashes that slide up and down.

Down Payment
Percentage of the purchase price that the buyer must pay in cash and may not borrow from the lender.

Dry Rot
A misnomer, it is a fungal pest that rots wood. It develops from exposure of the wood to moisture.

Dual Agency
When the same Real Estate Broker and/or agent represents both Seller and Buyer in the same transaction. This requires written approval by both parties.

Due-on-sale clause
Standard language in a mortgage which states that the loan must be paid when a house is sold.

Duplex
A structure that consists of two separate family units.