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- Days on Market (DOM) – the total number of days the listing is active (for sale) on the market.
- Deed – a formal written document by which title to real property is transferred from one owner to another. Types of Deeds:
— Quit Claim Deed
— Special Warranty Deed
— Deed of Trust
— General Warranty Deed
- Default –– failure to make mortgage payments as agreed to.
- Default in Real Estate Transaction – either Buyer or Seller fails, without legal excuse, to complete and close the purchase of the property.
- Department of Licensing (DOL) – department of licensing regulates drivers, vehicle and boats, and over 30 types of professions and business licenses; including real estate licenses for Brokers and Managing Brokers. More info at Washington State Department of Licensing.
- Department of Revenue (DOR) – collects revenues to fund public services. DOR real estate excise tax.
- Depreciation — decline in property value due to wear and tear. Depreciation Period:
Residential Rental Property
27.5 years
Commercial Property
39 years
- DOL – see Department of Licensing (DOL)
- DOM – see Days on Market
- DOR – see Department of Revenue (DOR)
- Down Payment – the amount of money to be paid by the buyer at closing. Down payment is the difference between the sales price and mortgage amount.
- Dual Agency – happens when the Listing Agent and Selling Agent are the same. A dual agent must walk a narrow tightrope to be neutral toward both parties, and they may not disclose confidential information to either party. It is legal in Washington State, although we do not practice such agency.