Albuquerque NM Real Estate Key Terms
Debt Coverage Ratio the ratio of annual net income to annual debt service.
Debt Service the amount of money needed to meet the periodic payments of principal and interest on a loan or debt that is being amortized.
Debt to Equity Ratio the relationship of the total loan owed to the lender and the invested capital of the owner
Deed a written instrument Â by which a property owner as â€œgrantorâ€ convey and transfers t a grantee an ownership interest in real property.
Deed In Lieu of Foreclosure a deed given by the mortgagor to the mortgagee when the mortgagor is in default under the terms of the mortgage.Â This is way for the mortgagor to avoid foreclosure.
Deed Restrictions clauses in a deed limiting the future uses of the property.
Default the nonperformance of a duty whether arising under a contract or otherwise, failure to meet an obligation when due.
Defeasance Clause a clause used in leases and mortgages that cancels a specified right upon the occurrence of certain condition, such as cancellation of a mortgage upon repayment of the mortgage loan.
Deficiency Judgment a personal judgment levied against the borrower when a foreclosure sale does not produce sufficient funds to the pay mortgage debt in full.
Depreciation 1) in appraisal, a loss of value in property due to any cause. 2) In real estate investment, an expense deduction for tax purposes taken over the period of ownership of income property.
Developer one who attempts to put land to its most profitable use through the construction of improvements such as commercial condominiums or subdivision projects.
Devise a gift of real property by will. The donor is the devisor and the recipient is the devisee.
Disclosure to reveal, make known.
Discount Point a unit of measure used for various charges, one point equals one percent of the amount of the loan.
Distressed Property property that brings an insufficient return to the owners or is in difficulty for other reasons. Sometimes it is a property that must be sold due to a pending foreclosure.
Down Payment the amount of cash a purchaser will pay at the time of purchase.
Dual Agency representing both parties to a transaction. This is unethical unless both parties agree to I and it is illegal in many state.
Due on Sale Clause a provision in the mortgage that states the entire balance of the note is immediately due and payable if the mortgagor transfers the property.
Duress unlawful constraint or actions exercised upon a person whereby the person is force to perform an act against their will. A contract entered into under duress is voidable.
Myers & Myers Real Estate is a full service real estate brokerage located in Albuquerque New Mexico. We help home buyers and home sellers in the Albuquerque metro achieve their real estate goals. Our website has every home for sale in the Southwest Multiple Listing Service. Check out homes for sale in Albuquerque, homes for sale in Rio Rancho, homes for sale in Corrales, homes for sale in East Mountains, homes for sale in Valencia County, and homes for sale in Los Lunas.