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Real Estate Glossary and Terms

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Realty Terms beginning with W

The buyer's final inspection of a property which is being purchased is called a walk-through. This final inspection generally takes place on the day of closing or one day prior to ensure all the conditions of the sale have been met.

A guarantee is given by a company to the purchaser which states that a product is reliable and free from known defects and that the seller will, without charge, repair or replace defective parts within a given time limit and under certain conditions. 2. In real estate, warranty refers a document certifying clear title a property.

Weekly and Bi-Weekly Payments
You can usually choose to make your mortgage payments once a week or once every two weeks. This accelerates the reduction of your mortgage because you are making the equivalent of one extra monthly payment per year.