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The W’s Of Real Estate

REAL ESTATE TERMS YOU MAY WANT TO KNOW WHEN BUYING OR SELLING A HOME IN THE ORLANDO AREA

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(Click A Letter Or Scroll Down To Find A Term Starting With That Letter)


Get to know the language of real estate to get better results when buying or selling a home in the Orlando area
 

Get To Know The “W’s” Of Real Estate

+/- Click A Term To Read Its Definition – Expands Answer In This Same Window – Click Again To Collapse

+/- Walk Through

the final inspection of a property being sold by the buyer to confirm that any contingencies specified in the purchase agreement such as repairs have been completed, fixture and non-fixture property is in place and confirm the electrical, mechanical, and plumbing systems are in working order.

+/- Warranty Deed

a legal document that includes the guarantee the seller is the true owner of the property, has the right to sell the property and there are no claims against the property.

+/- Walk-up Building

A walk-up building is a building that does not have an elevator and are usually four or five stories.

+/- Wetlands

Wetlands are federal and state protected transition areas between uplands and aquatic habitats that provide flood and storm water control, surface and groundwater protection, erosion control, and pollution treatment..

+/- Wild Document

A document either created by a stranger to the title such as a forger or made outside the chain of title such as a conveyance granted by someone who previously failed to record and thereby left a link.

+/- Without Recourse

A without recourse endorsement especially refuses to assume any responsibility to subsequent holders for the payment of a debt instrument that gets transferred by endorsement.

+/- Words of Conveyance

Words of conveyance is a stipulation in a deed demonstrating the definite intent to convey a specific title to real property to a named grantee.

+/- Wraparound Mortgage

A wraparound mortgage is a junior mortgage in an amount exceeding a first mortgage against the property.

+/- Writ of Attachment

A writ of attachment is a court order preventing any transfer of attached property during litigation.

+/- Writ Of Execution

A written order issued to carry out the judgment or decree of a court.

Keep in mind that this is by no means a complete list of terms, but it does highlight most of the more common terms used in the industry and is a constant work in progress as time passes.

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If you have any questions whatsoever regarding the sale or purchase of a property in the Central Florida area please feel free to call or write me direct. My business hours are Monday thru Friday 9am – 6pm.

Thank you for choosing MORE Realty Services LLC as an information source for your Central Florida real estate needs.

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