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Welcome > Resources > Real Estate Dictionary - A
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Waiver |
The relinquishing of a right |
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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 |
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Warranty deed |
A document conveying ownership of a property
that guarantees a clear, clean title |
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Will |
A written document stating how an individual
chooses to have his or her property distributed after his or her
death |
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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 |
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Did I Miss the Word YOU Are Looking For? Is there a real estate word that I failed to explain here in my dictionary for homebuyers and sellers? Let me be your personal real estate dictionary! I'll send a brief explanation of any word or term that you encounter when buying and selling property. Do you have a suggestion of a real estate word that should be included? Let me know! I always appreciate feedback. Do any of these definitions raise questions for you? Didn't find the word you're looking for? Let me know! I'm happy to answer ANY questions. It's my job! There's no obligation, and I promise to get back to you quickly...
Selling Your Home >Open House
If your home has been on the market for a few weeks, your real estate agent may suggest an "open house." Your agent puts up signs, gives you some pointers about how to prepare your home for showing and shows up early on Sunday morning. You may be tempted to stay around, but the best advice is to leave while your home is being shown!
When sellers are present at an open house, they can hamper the sales professional's ability to cultivate interested buyers, and can even squelch a sale. What would your response be, for instance, if someone strolls into your kitchen and says, "What awful wallpaper!" If prospective buyers know that you as the owner are present, they might feel reluctant to express their objections and concerns openly and directly to your agent.
If your objective is to get your home SOLD, the best thing to do is to get out of the way and let the sales professional do the job.
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| Q |
What do 84% of homebuyers who use the Internet to search for homes have in common?
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| A |
They use a real estate agent to purchase their home.
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 See More Real Estate Trivia > |
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NUMBER1EXPERT®
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- NUMBER1EXPERT 
