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Real Estate Glossary
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Terms starting with 'W':
WALK-THROUGH INSPECTION :
A process whereby an appraiser examines a property in preparation for estimating its value. Also, the process of inspecting a property for any damage prior to that property being bought or sold.
WARRANTY:
An affidavit given to stipulate the condition of a property. The person giving the warranty assumes liability if the condition turns out to be untrue.
WATT:
An expression of amount of electrical power. Volt times amps equals watts.
WEAR AND TEAR:
A term used to indicate the normal damage inflicted on a property through every-day use.
WEATHER STRIPPING:
Material used around windows and doors to prevent drafts.
WEEP HOLE:
Drainage hole that allows water to escape.

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