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Real Estate Terms Glossary - W
Search Alphabetically: WainscotingWood paneling,
tongue-and-groove boards or similar material installed between a
baseboard and a chair rail. WaiverA voluntary
relinquishing of certain rights or claims. Walk-out basementA feature that
allows a door to open onto ground level. Walk-throughA buyer's final
inspection of the home to determine if conditions in the purchase
agreement have been satisfied. WarrantyA legally binding
promise to do something in the future. WetlandsWatery areas such
as swamps, marshes and floodplains. Wild deedAn improperly
recorded deed. WillThe most basic
legal document outlining the disposition of a person's estate in the
event of death. Window lightAn individual
pane of glass. Window seatA bench built
under an interior window. Window wellA curved,
corrugated steel insert used to isolate basement windows from
moisture if they're below the soil line. Window well coversCurved plastic
covers designed to be installed on top of a window well to cover the
opening. Wraparound mortgageA loan to a buyer for the remaining balance on a seller's first mortgage and an additional amount requested by the seller. Payments on both loans are made to the lender who holds the wraparound loan.
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