Jargon Buster

A B C D E F G I J L M N O P R S T U V Y

Deeds

A document evidencing a persons legal right or title to the property.

 

Deflation

A situation where prices are falling. (The opposite of Inflation)

 

Deposit

A sum of money (typically 10% of the purchase price) paid by the buyer, upon exchange of contracts.

 

Depreciation

The decline or reduction in the value of a property.

 

Detached

Term used to describe a property that stands alone from all others.

 

Disbursements

Fees paid by the buyers solicitor on the buyers behalf such as stamp duty, land registry and search fees.

 

Down Valuation

In the event of a surveyor advising that the property is not worth the sum sought, the amount available for borrowing will be restricted by the lender.

 

Draft Contract

Preliminary version of the sale contract sent out to the purchasers solicitor.