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Real Estate Terms / Real Estate Dictionary


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-W-

Wainscot or Wainscoting
A paneling style which is traditionally constructed from tongue-and-groove boards, though beadboard or decorative panels are also common. Wainscoting's original purpose was to cover the lower part of walls in houses constructed with poor or nonexistent damp-proof walls. Wainscot was brought to the United States by early English settlers. A very popular style of wainscot is "beadboard wainscot" which can give a room character and personality.
 
Dining Room with Wainscot Paneling
Dining Room with Wainscot Paneling
 

 

Waiver
The intentional relinquishment of a known right, claim or privilege.

Warranty
A legal, binding, promise, given at the time of a sale, whereby the seller gives the buyer certain assurances as to the condition of the property or service sold.

Warranty of Authority
An agent's promise or guarantee to third parties that his/her actions fall within the scope of authority given by the principal. An agent acting outside of the scope of authority breaches the warranty of authority.


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