W = Real Estate Glossary | Understanding Real Estate Terms

 

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.