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Works of Joy
Glossary of Real Estate Terms
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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. |
| Warranty |
| A legally binding promise to do something in the future. |
| Wetlands |
| Watery areas as swamps, marshes and floodplains. Wild deed |
| 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 below the soil line from moisture. |
| 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. |
