The Wendling Team - Austin Real Estate

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WELCOME to this month's real estate update. In this issue you'll find helpful tips for the home owner. Whether you're ready to buy, sell, or just need a few tips for around the house, it's all here.

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QUESTIONS and answer database can help you get started. VIEW

TERMS and definitions database. VIEW

REAL ESTATE TERMS DATABASE

Click on any letter to view terms, and definitions.

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

debt: An amount owed to another. See installment loan and revolving liability.

deed: The legal document conveying title to a property.

deed-in-lieu: A deed given by a mortgagor to the mortgagee to satisfy a debt and avoid foreclosure. Also called a "voluntary conveyance."

deed of trust: The document used in some states instead of a mortgage; title is conveyed to a trustee.

default: Failure to make mortgage payments on a timely basis or to comply with other requirements of a mortgage.

delinquency: Failure to make mortgage payments when mortgage payments are due.

deposit: A sum of money given to bind the sale of real estate, or a sum of money given to ensure payment or an advance of funds in the processing of a loan. See earnest money deposit.

depreciation: A decline in the value of property; the opposite of appreciation.

discount points: See point.

dower: The rights of a widow in the property of her husband at his death.

down payment: The part of the purchase price of a property that the buyer pays in cash and does not finance with a mortgage.

due-on-sale provision: A provision in a mortgage that allows the lender to demand repayment in full if the borrower sells the property that serves as security for the mortgage.

due-on-transfer provision: This terminology is usually used for second mortgages. See due-on-sale provision.