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Real Property Glossary -W-
RETURN TO GLOSSARY PLANET
Waiver
A voluntary relinquishing of certain rights or claims.
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. Usually happens hours before the buyer
and seller meet at closing.
Sheets of compacted gypsum with a paper exterior. Also known as dry wall, sheetrock, gypsum board and plaster board.
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.
A legally binding promise to do something in the future.
Water table
The level at which the ground is saturated with water.
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.
Spaces or small openings left in a masonry wall to allow water to drain from behind the wall.
Western style
A style of cabinet with a face frame around the front opening.
Watery areas such as swamps, marshes and floodplains.
Wild deed
An improperly recorded deed.
Window light
An individual pane of glass.
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.
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.
