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- Real Estate Glossary A
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Real Estate Glossary W
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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