Real Estate Glossary Terms Beginning With – W

Updated: November 22, 2021

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Terms Beginning With - W

Property Development & Investment Glossary, Terms & Definitions

Warehousing a loan

The combining of many mortgages with the intention of selling them on the secondary mortgage market.

Warranty

In a contract, a commitment is made.

Warranty deed

An agreement by the grantee to defend the premises against the valid claims of a third party, as well as an assurance that he is the property owner and would defend the title supplied.

Wet columns

Columns with plumbing fixtures for drinking, sinks, and other purposes; the pipes are routed via a tiny enclosure (chase) against the column.

Wholesaler

A person who acts as a go-between in the process of raising capital.

Will

The process of distributing one's assets following one's death.

Without recourse

A mortgage that secures a note with no recourse, allowing the lender to rely only on the property if the borrower defaults.

Working capital

The gap between current assets and current liabilities is known as the current asset-to-current liability ratio.

Working drawings

Detailed floor drawings that show all of the modifications that need to be made. They are intended to serve as guidelines for the numerous contractors engaged.

Work letter

The section of the lease that specifies all of the tasks that the landlord must perform for the renter.

Workout loan

A loan in which the lender has agreed to decrease the debt service payment in order to save the property from being foreclosed on.

Wraparound mortgage

A mortgage that secures a loan and includes both the existing debt's sum due and any additional monies supplied.

Write-off

Excess investment deductions that can be used to offset income taxes on other sources of income.

Glossary Index

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