Designed agency

An agency relationship where a client designates a broker to appoint an official agent to singularly represents his or her interest to the exclusion of all of the other agents in the broker’s office.

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Descent

The hereditary succession of an heir to the property of a relative who dies intestate.

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Depreciation

In appraisal, a loss of value in property due to all causes, including physical deterioration, functional obsolescence, and economic obsolescence. 2. In real estate investment, an expense deduction for tax purposes taken over the period of ownership of the income property. While a confluence of the perfect conditions in one’s home and market can lead […]

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Density zoning

The zoning ordinances that restrict the average maximum number of houses per acre that may be built within a particular area, generally a subdivision.

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Demand

The willingness of persons to buy available goods at a given price; often coupled with supply.

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Delivery

The legal act of transferring ownership. Documents such as deeds and purchase agreements must be delivered and accepted to be valid.

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Deficiency judgment

A personal judgment levied against the mortgagor when a foreclosure sale does not produce sufficient funds to pay the mortgage debt in full.

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