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Real Estate Glossary of Terms

Begins with Contains Exactly matches

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W
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Term Definition
Waiverthe voluntary renunciation, abandonment, or surrender of some claim, right or privilege.
 
Warehouse FeeA 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 Deeddeed that contains a covenant that the grantor will protect the grantee against any and all claims; usually contains covenants ensuring good title, freedom from encumbrances, and quiet enjoyment.
 
Wholesaleto contract a property with the intention of reselling it quickly at a higher price.
 
Wild DeedAn improperly recorded deed
 
Without Recoursewords used in endorsing a note to denote the note holder is not to look to the debtor personally in the event of nonpayment.
 
Wraparound Mortgageloan arrangement in which an existing loan is retained and an additional loan is made that equals or exceeds the existing loan.
 
Writ of Executiona court order which authorizes and directs the proper officer of the court (usually the sheriff) to carry into effect the judgment or decree of the court.
 


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