Real Estate Words – W

W-2: An IRS form that an employer issues its employee stating compensation and deductions thereof.
W-9: An IRS form stating taxpayer identification numbers and verification thereof.
Waiver: When a known right, privilege or claim is intentionally relinquished.
Walk-Through: A final walking tour of the property by the purchasing party before the closing.
Warehouse Fee: A fee paid by the seller, based on each lender’s particular practices, which the lender charges for depositing a note within the bank for future sale to an investor.
Warranty Deed: A deed that transfers real property from one person to another and in which the grantor promises that title is good and clear of any claims.
Will: A document made by the person during their lifetime that delineates how to administer a person’s personal property after a person’s death.
Work Sheet: A form that contains all pertinent information to a transaction recorded by a real estate company.