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Glossary
of Real Estate Terms
Glossary for "W"
Wainscoting
Wood paneling, tongue-and-groove boards or similar material installed
between a baseboard and a chair rail.
Waiver
A voluntary relinquishing of certain rights or claims.
Walk-out
basement
A feature that allows a door to open onto ground level.
Walk-through
A buyer's final inspection of the home to determine if conditions
in the purchase agreement have been satisfied.
Warranty
A legally binding promise to do something in the future.
Wetlands
Watery areas such as swamps, marshes and floodplains.
Wild
deed
An improperly recorded deed.
Will
The most basic legal document outlining the disposition of a person's
estate in the event of death.
Window
light
An individual pane of glass.
Window
seat
A bench built under an interior window.
Window
well
A curved, corrugated steel insert used to isolate basement windows
from moisture if they're below the soil line.
Window
well covers
Curved plastic covers designed to be installed on top of a window
well to cover the opening.
Wraparound
mortgage
A 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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