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REAL ESTATE DICTIONARY
Results
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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. |
wallboard
Sheets of
compacted gypsum with a paper exterior. Also known as dry wall, sheetrock,
gypsum board, and plaster board. |
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warehouse fee
A
closing-cost fee representing the lender's cost of holding a borrower's loan
temporarily before it is sold on the secondary mortgage market. |
warranty
A legally
binding promise to do something in the future. |
water table
The level
at which the ground is saturated with water. |
watt
The unit used to
measure the rate at which a device consumes electricity. |
weather stripping
Individual lengths of rubber or plastic used to plug air leaks
around doors and window frames. |
weep holes
Spaces or
small openings left in a masonry wall to allow water to drain from behind the
wall. |
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Western style
A
cabinetry term referring to a style of cabinet with a face frame around the
front opening. |
wetlands
Watery areas
such as swamps, marshes and floodplains. |
wild deed
An
improperly recorded deed. |
will
A legal document
outlining the disposition of a person's estate in the event of his or her
death. |
window light
An
individual pane of glass. |
window seat
A bench
built under an interior window. |
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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 given to a buyer for the remaining balance on a seller's first mortgage and
an additional amount requested by the seller. Payments on both amounts are made
to the lender who holds the wraparound loan.
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Equal Housing Opportunity