• 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 Revenue (DOR) – collect 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 is 27.5 years

— Commercial Building is 39 years

  • DOL – see Department of Licencing (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.