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Real Estate Definitions

These are definitions related to real estate. The definitions can be very helpful in understanding much of the confusion that comes over people when they are trying to understand what a realtor or a loan officer might be saying. If you have any other words you may need defined, do not hesitate to call me at 608-219-8014.

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


Keller Williams real estate agency serving Madison and the southern Wisconsin area

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Nataliya Flannery
My Cell Phone: (608) 219-8014
My Fax Number: (608) 831-0825
My Email: natflannery@kw.com
Alternate Website: Nataliya Flannery
- Madison Real Estate

Keller Williams-West Madison:
3 Point Place
Madison, WI 53719
Last Updated: March 25, 2007 All information copyright madison-real-estate.net 2005, Webmaster
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