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Real Estate Dictionary
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date of appraisal

The precise day, month or year on which an assessment of the value of a property is given.

date of instrument

The precise day, month or year on which a legal document was signed.

date of registration

The precise day, month or year on which an instrument (e.g., a mortgage lien) was registered on the title to a property.

dead-end street

see cul-de-sac.

debt coverage ratio (DCR)

A calculation used to determine whether a particular income property would be a good investment that is performed by subtracting the mortgage payments on the property from the potential net income of the property (i.e., rents minus day-to-day expenses). The purpose of this calculation is to determine whether the property generates enough income to pay for itself and, hopefully, also make a profit.

debt financing

The purchase of a property using any kind of credit rather than paying cash.

debt ratio

A simple means of assessing whether a potential buyer of property can pay a mortgage: the total monthly payments of all the buyer’s debts, including the proposed mortgage, are compared with the buyer’s gross monthly income. If very little income is left over for such things as food, transportation or entertainment, the potential lender may conclude that the potential buyer is a bad risk.

debt service

Another term for a mortgage payment over a given period .

debt-equity ratio

A comparison of what is owed on a property with its equity (i.e., the current market value of the property less the amount owed on the mortgage or loan).

debtor’s position

The value over and above the amount owed (i.e., the principal and accumulated interest on the mortgage) on a property at any given time. With each monthly mortgage payment, the debtor’s position improves. Also known as equity.
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