Terms with Category Real Estate

  • Cul-De-Sac (Cldsc, Culd) Abbreviation,
    • A dead-end street, often with a broad circle at the end.
  • Curable Defect Definition,
    • A problem with a property that can be remedied. Peeling paint is a curable defect, but location in a crime-ridden neighbourhood is not.
  • Curb Appeal Definition,
    • The look of a house when viewed from the street.
  • Current Market Value (CMV) Bank,
    • The estimated price determined by the recent sale of similar properties.
  • Curtain Wall Definition,
    • A non-lead bearing exterior wall.
  • Custom Builder Definition,
    • A contractor that constructs or remodels houses based on plans submitted by the client.
  • Custom Home Definition,
    • A house built according to plans from an architect hired by the owner.
  • Days on Market (DOM) Acronym, Very Important,
    • The period between listing and sale, or listing and a property being taken off the market.
  • Deed (D) Acronym, Very Important,
    • A document that provides title to property and is filed with a country recorder.
    Used to transfer ownership of assets, often land or automobiles.
  • Den Definition,
    • An additional small room within a home often used as an office.
  • Deposit Bank,
    • An act of putting a sum of money in to a bank account.
    • A sum of money put towards a given transaction. In a property purchase, a deposit signifies the intent to buy, which is paid to the vendor and applied to the principal cost.
  • Depreciation Bank,
    • The gradual loss of value of a building or other property because of age or natural wear.
  • Depression Bank,
    • A prolonged downturn in the economy and level of business activity.
  • Detached (det, detd) Abbreviation,
    • Something that is not affixed to a property.
    As in detached garage.
  • Detached Structure Definition,
    • A building that is not attached to another building.
  • Developer Definition,
    • To develop or create something.
    • Companies that buy land and put up buildings for rent or sale.
  • Dimension Plans Definition,
    • Diagrams that show location of building outlines and other improvements on a lot, but which are not as detailed as blueprints.
  • Disclosure Bank,
    • A statement listing potential defects to a property, such as the possible existence of lead paint or radon.
    • A statement required by most provinces that requires the creditor to tell the debtor the annual percentage rate, finance charges and other terms of a loan.
  • Distress Bank,
    • The right of one party to sell real or personal property belonging to another party to pay unpaid or overdue debt.
  • Distressed Property Bank,
    • Property that is in poor condition, or whose owner is in poor financial condition.
  • Domicile Definition,
    • A person's permanent residence.
  • Draw Mortgage (DM) Acronym,
    • A periodic payment made to a construction contractor or subcontractor as work progresses. A draw is part of a construction mortgage.
    See Progress Advance Mortgage (PAM).
  • Dry Rot Definition,
    • A fungal decay that causes lumber to crumble.
  • Drywall Definition,
    • Panels of gypsum plaster wrapped in thin cardboard and attached to the house framing to create interior walls.
  • Dual Agency Definition,
    • When a real-estate agent or broker represents both parties in a transaction.
  • Dual Agent Definition,
    • A real estate agent who acts for both parties in a property sale.
  • Duplex (dup) Abbreviation,
    • One building that contains two housing units.
    A two-unit complex.
  • Early Occupancy Definition,
    • A condition in which the seller allows the buyer to move in before the sale is closed.
  • Earnest Money Deposit (EMD) Acronym,
    • Money given by a buyer when making a formal offer to demonstrate that the buyer is serious. Also called a deposit.
    A down payment.
  • Easement Definition,
    • A means by which access or right of way is granted by law if an owner of a property is negligent in restricting access or enforcing trespassing laws for ten years or more.
    • Giving persons other than the owner access to or over a property.
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