Glossary in Letter W

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 giving access to the ground level.
Walk-through
A buyer’s finale inspection of the property to determine if conditions in the purchase agreement have been satisfied.
Wallboard
Sheets of compacted gypsum with a paper exterior. Other Names: dry wall, sheetrock, gypsum board, and plaster board.
Warehouse fee
A cost fee representing the lenders cost of holding a borrowers 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 or Power.
Weather stripping
Rubber or plastic strippings used to plug air leaks around doors and window frames.
Weep holes
Spaces or small openings left in a masonry wall allowing water to be drained from behind the wall.
Western style
A term referring to a style of cabinet with a face frame around the front opening.
Wetlands
Swamps, marshes and floodplains.
Wild deed
Improperly recorded deeds.
Will
A legal document outlining the disposition of a person’s estate if he or she dies.
Window lights
An individual pane of glass.
Window seat
A built bench under an interior window.
Window well
A curved, corrugated steel inserted 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 covering the opening.
Wraparound mortgage
A loan given to a buyer for the remaining balance on a seller’s first mortgage and an additional amount asked by the seller.