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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...
| Q |
What are considered the ideal conditions for a buyer's market?
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| A |
In a buyer's market, there are more houses for sale than buyers, homes take longer to sell, and sellers may have to cut prices. |
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Patricia Modica
Howard Hanna Smythe Cramer
6240 Som Center Rd.
Solon, OH. 44139
Phone: 440-248-7313
Fax: 440-248-7540
Email: Pat@PatModica.com
Pat specializes in the communities and counties which make up the east side of Cleveland, including the Chagrin Valley area. In addition, Pat’s relocation connections allow her to link clients moving out of northeast Ohio with professional real estate assistance in their new location, as well as assist homebuyers moving into our area find a new community to call home.
Pat has a team of professionals behind her, including her daughter, Jamie Mehl. The team’s number one priority is client satisfaction. They are always just a phone call away and ready to help, removing unnecessary stress from the transaction and making it a smooth and enjoyable process.   
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