South Orange Real Estate Listings, Home buying, Homes for sale and Relocation in the South Orange New Jersey Area, value, real, realtor, sell, house, buy, real estate
south orange nj real estate real estate south orange nj
Search:  

Real Estate Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

W

Waiver
The relinquishing of a right

Warranty
A guarantee provided to the purchases regarding the quality of appliances or fixtures sold
Also a promise by the grantor of a piece of property that he or she is responsible to the buyer if the title of ownership is defect in any way

Warranty deed
A document conveying ownership of a property that guarantees a clear, clean title

Will
A written document stating how an individual chooses to have his or her property distributed after his or her death

Wraparound loan or Wraparound mortgage
A method of refinancing which covers the remaining balance on an existing first mortgage as well as the additional amount of loan being requested by the mortgagor; full payments covering both mortgages are made to the Wraparound mortgagee, who then forwards on the portion of payment due to the first mortgagee