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Deed in lieu of foreclosure: A deed given by an owner/borrower to a
lender to satisfy a mortgage debt and avoid foreclosure
Deposit receipt A
document that lists the price, conditions and terms under which the buyer is
willing to purchase the property. (Each of these means the same thing: offer
to purchase, or purchase offer, or earnest money agreement, or contract of
purchase, or deposit receipt.)
Distressed Property:
Property
that is in poor physical or financial condition.
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