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GLOSSARY
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Deed
A written, legal instrument, given to convey title to real property upon sale.
Deed in Lieu of Foreclosure
A deed given by an owner/borrower to a lender to prevent the lender from bringing foreclosure proceedings.
Deferred Maintenance
Curable, physical deterioration that should be corrected. Repairs needed to restore a property to good condition.
Depreciation
Loss in real estate value from any cause
Deterioration
Loss in value due to wear and tear, disintegration, or exposure to the elements.
Discounted Cash Flow
The estimated present value of future cash flow, determined by a given discount rate.
Distress Sale
A sale of property when the seller is under pressure to sell. Generally the property is sold for less than market value.
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