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

Deed	A written document that conveys the ownership of real estate from one person or party to another
Deed-in-lieu, or Deed-in-lieu of foreclosure	A deed given by a mortgagor to the mortgagee when the mortgage is in default, to avoid foreclosure
Deed of trust	A written document that grants a trustee, in the event of foreclosure, the full power to sell, mortgage and subdivide the property in question
Deed Restriction	A clause in a Deed that limits the uses of the property (e.g., types or quantities of structures permitted)
Default	The failure to meet the legal obligations in a contract; in real estate, failure to pay mortgage payments as scheduled or to comply with other stipulations of the mortgage
Deferred interest	Interest on a mortgage which is delayed because the monthly payment of the mortgage is not large enough to cover the entire principal and interest due, and therefore is added to the loan balance See "negative amortization"
Deficiency judgment	A claim made by the holder of a note against the maker, in the event that a foreclosure sale does not bring in enough proceeds to fully cover the note and the costs of sale, for the difference
Delivery	The final, unconditional and absolute transfer of a Deed from seller to buyer, such that the seller cannot revoke the transfer of ownership; the Deed itself does not pass title until the seller delivers it to the buyer
Depreciation	A decline in the value of property, due to any cause; the opposite of appreciation Also an expense deduction taken for tax purposes over the period of owning income property
Devise	To dispose or convey ownership of real property via a will
Disclosure	A statement of facts made by the buyer about the condition of a property being sold and its surrounding area, required by law in most US states
Discount point	A unit of measurement used for loan charges, with one point equaling 1 percent of the value of the loan
Dower	The rights of a spouse to the property of their deceased spouse
Down payment	The amount of the purchase price of a property paid in cash (i.e. not financed with a mortgage) that is required to secure the property; typically 20%
Dual agency	Representation of opposing parties in a transaction (e.g. when a realtor is the agent for both buyer and seller); requires consent of both parties to be allowed, and is illegal in some US states
Due-on-sale clause	A provision in a mortgage allowing the lender to demand payment of the entire balance of the note if the mortgagor sells or otherwise transfers the property

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

Real Estate Tips Remodeling and Renovations >Kitchen Catastrophe You have found an almost perfect house--the right number of bedrooms and baths, a wonderful family room, a great back yard. Your pulse rate increases as you imagine your furniture in the living room, your "excess" neatly stored in the huge attic, and your tulip bulbs blooming in the garden. However, the kitchen looks like it was built long before conveniences like dishwashers or microwaves. If you have fallen in love with a house with an outdated or unattractive kitchen, you should consider renovating it. Contact a contractor for expert advice during the structural contingency period. Re-doing a kitchen can be a major undertaking, especially if you move walls around. If you put in new appliances, cabinets, and flooring into the existing space, it can be done in a shorter period of time and for a small fraction of the cost. Kitchen improvements are considered excellent investments. See All Tips In The "Remodeling and Renovations" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories > Real Estate Trivia Q  In which 'Oil Sheikdom' of the Far East do the wealthy still choose to live in primitive houses on stilts? A  Brunei's oil wealth results in no income tax, free education and health services, and cheap housing loans for its average citizen. See More Real Estate Trivia >

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Julie Longtin RE/MAX Cityside 350 South Main St. Providence, Rhode Island 02903 Phone: 401-277-9700 Fax: 401-277-9701 Cell: 401-578-6051 Email: julielongtin@aol.com Julie Longtin has been a licensed real estate salesperson since 1991 and was also a licensed real estate appraiser from 1994-1999. Through these years of experience Julie had a large production--annually in the multi-million dollar range pertaining to the conveyance of real estate. Through her knowledge as a real estate appraiser, she procured an in-depth understanding of market value, physical components contained within homes, changing markets, and translating market indicators in order to benefit her clients. Julie has received numerous awards and is most proud of being the youngest woman in Rhode Island inducted into the RE/Max Hall of Fame in 2004. Additionally, she was ranked 7th in Rhode Island by RE/MAX for individual sales production, recognized by national publisher "MacDonald Advertising Services" for excellence and ingenuity in Real Estate Classified advertisement, and published in "Money Magazine" June 2006 in article "After the Boom". Julie also held the position of Team Leader (CEO) of Keller Williams of Central RI. "Whether you are a first time homebuyer or liquidating a real estate portfolio, or acquiring one, I can assist and consult with you regarding any real estate transaction." -Julie Longtin www.julielongtin.com is brought to you by Julie Longtin, real estate for Providence and Cranston, Rhode Island Read Julie Longtin's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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