• 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) – 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.