Dictionary W

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Wood paneling, tongue-and-groove boards, or similar material installed between a baseboard and a chair rail.
A voluntary relinquishing of certain rights or claims.
walk-out basement
A feature that allows a door to open onto ground level.
A buyer’s final inspection of the home to determine if conditions in the purchase agreement have been satisfied.
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.
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.
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.
Watery areas such as swamps, marshes and floodplains.
wild deed
An improperly recorded deed.
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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