|
|
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
Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly... 
|
Ray Miller
Prudential Rubloff Properties
1620 Sherman Avenue
Evanston, Illinois 60201
Phone: 773-330-1519
Fax: 773-262-1810
Email: RayMiller@RayMillerRealEstate.com
Email: RayMillerRealty@aol.com
Superior attention to detail and outstanding personal service for all your Real Estate needs.
As a Real Estate Broker for over 15 years, Ray understands that his success comes from putting the needs of his client first and effectively marketing properties. Ray is one of the top brokers in the Keller Williams Mid-America Region and the top broker at the Keller Williams Lincoln Park office in Chicago.
While specializing in listing and selling single-family homes and condominiums, Ray's expertise also includes commercial/industrial and multiunit properties.
Ray excels at:
· Assisting seasoned and first time homebuyers achieve their dreams of finding the perfect home.
· Working with sellers in marketing their property in order to sell in the appropriate time frame for the highest dollar value.
· Searching with investors and locating the ideal property for their needs.
With a background that includes retail management and sales training on a national level, Ray is able to prepare buying strategies and implement marketing plans for your property that deliver results. Ray teaches property marketing techniques to colleges in his office and is a mentor to many.
Buying or selling, Ray can guide and educate you through each transaction. It is through this type of personally tailored service that Ray has exceeded his client’s expectations.   
www.RayMillerRealty.com
is brought to you by Ray Miller, real estate for
Lincoln Park, Lakeview, Andersonville, Bucktown and Chicago, Illinois
Read Ray Miller's
Privacy Guarantee,
Terms of Service,
and
Free & Without Obligation Pledge
|
NUMBER1EXPERT®
© Homes Media Solutions™, a division of Dominion Enterprises and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
|
- NUMBER1EXPERT® 
