Realestate
Glossary
Browse the list alphabetically
for a specific term. The topical list groups terms by
steps in the home buying process.
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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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