Damper
A movable plate in a fireplace that allows smoke and fumes to travel up the chimney's flue.

Days on the market
The period of time a property is listed for sale prior to being sold or taken off the market.

Deadbolt lock
A lock that requires a key to open from the outside and a turn button from the inside.

Debt
Any amount one person owes to another.

Debt assumption letter
The formal transfer of debt from one party to another, backed by a contract of assumption signed by both parties. Also known as assignment of debt.

Decorating allowance
An amount of money supplied by the seller and held in escrow for the buyer, to be applied toward negotiated decorating changes.

Deed
The legal document conveying title to a property.

Deed of Trust
Some states, like California, do not record mortgages. Instead, they record a deed of trust which is essentially the same thing.

Deed-In-Lieu
Short for "deed in lieu of foreclosure," this conveys title to the lender when the borrower is in default and wants to avoid foreclosure. The lender may or may not cease foreclosure activities if a borrower asks to provide a deed-in-lieu. Regardless of whether the lender accepts the deed-in-lieu, the avoidance and non-repayment of debt will most likely show on a credit history. What a deed-in-lieu may prevent is having the documents preparatory to a foreclosure being recorded and become a matter of public record.

Deep-seal floor drain
A drain used to dispose of water from the basement floor to a sewer line.

Default
Failure to make the mortgage payment within a specified period of time. For first mortgages or first trust deeds, if a payment has still not been made within 30 days of the due date, the loan is considered to be in default.

Deferred maintenance
Any repair or maintenance of a piece of property that has been postponed, resulting in a decline in property value.

Delinquency
Failure to make mortgage payments when mortgage payments are due. For most mortgages, payments are due on the first day of the month. Even though they may not charge a "late fee" for a number of days, the payment is still considered to be late and the loan delinquent. When a loan payment is more than 30 days late, most lenders report the late payment to one or more credit bureaus.

Delinquent mortgage
A mortgage that involves a borrower who is behind on payments. If the borrower cannot bring the payments up to date within a specified number of days, the lender may begin foreclosure proceedings.

Density test
An analysis of soil to determine if the surface can support the foundation of a house.

Dentils
Small rectangular blocks that project from a building, usually under cornices or along rooflines.

Deposit
A sum of money given in advance of a larger amount being expected in the future. Often called in real estate as an "earnest money deposit."

Depreciation
A decline in the value of property; the opposite of appreciation. Depreciation is also an accounting term which shows the declining monetary value of an asset and is used as an expense to reduce taxable income. Since this is not a true expense where money is actually paid, lenders will add back depreciation expense for self-employed borrowers and count it as income.

Designer
Unlike architects, designers are limited to drawing blueprints.

Digital images
Images that are incorporated into house listings to give potential buyers a view of the property.

Dimension plans
Plans which show the layout of a house but are less detailed than full blueprints.

Dimensional lumber
Single pieces of lumber sawed to standard dimensions.

Dimmer
A light switch that controls the brightness of one or more lights. Most allow a full range of control from full off to full on.

Dip tube
An extension of the water supply line into a storage tank. This delivers water close to the heat source on the bottom of a water heater.

Disability insurance
An insurance policy that covers an individual's ability to produce income.

Disclosure
A statement to a potential buyer listing information relevant to a piece of property, such as the presence of radon or lead paint.

Discount
Difference between the face amount of a note or mortgage and the price at which the instrument is sold in the secondary market.

Discount Points
In the mortgage industry, this term is usually used in only in reference to government loans, meaning FHA and VA loans. Discount points refer to any "points" paid in addition to the one percent loan origination fee. A "point" is one percent of the loan amount.

Distressed property
Property that is in poor physical or financial condition.

Documentation preparation
A fee charged by the settlement agent (escrow company or attorney) to ready the necessary paperwork for closing.

Domed ceiling
A hemispherical ceiling that projects upward without support.

Domicile
A person's primary or permanent home.

Dormer
A window set upright in a sloping roof.

Double-hung window
A window that consists of two sashes that slide up and down.

Dowel
A length of wood that is round in profile and made of hardwood (round lengths of softwood are called rounds).

Dowel plug
A short piece of a wooden dowel typically fitted into a counterbored hole to hide the head of a screw.

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

Downspout
A vertical gutter that empties water from the roof to the ground.

Drain auger
Also called a snake. A long, coiled-wire tool that you can unwind and push into a drain line to free a clog.

Drain valve
A valve used to drain a water storage tank in order to perform maintenance or replacement.

Drainage
A system of gutters and drainpipes that carry water away from the foundation of a house.

Drainpipe
Part of a home's plumbing system that carries waste to the sewer or septic system. Most residential drainpipes are from 1½ to 4 inches in diameter.

Draw
A payment made to subcontractors or suppliers from a construction loan.

Drip caps
Angled strips of metal flashing that are designed to protect the eaves from water damage. With an L-shaped profile, they tuck under the first course of shingles and extend down over the fascia.

Dropped ceiling
A flat ceiling built lower than the original ceiling.

Dry rot
A fungal decay that causes wood to become brittle and crumble.

Drywall
A construction material composed of gypsum or plaster wrapped in paper and produced in large sheets that can be nailed to wall studs.

Dual agency
A relationship in which a real estate agent or broker represents both parties in a transaction.

Dual agent
An agent who represents both the buyer and the seller in a transaction. Some states require strict disclosure of this arrangement to consumers.

Duct
Any kind of pipe or channel that carries water, wiring, or conditioned air through a house.

Ductwork
A system of large tubes, pipes, or channels (ducts) designed to deliver air to and from a furnace or other air-handling unit.

Due-on-sale clause
Standard language in a mortgage which states that the loan must be paid when a house is sold.

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.

Duplex
A structure that consists of two separate family units.

Duplex receptacle
An electrical outlet that accepts two lighting or appliance plugs.