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.