California Mobile Home Dictionary - W

Looking for a specific term? Our mobile home dictionary is organized by letter.

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Walk-Through: A final inspection of the property by the buyer to determine that the property is as described in the purchase agreement, which is usually conducted right before closing.

Warrant: A guarantee or promise that a certain fact or state of facts in relation to the subject matter of a transaction is or shall be as it is represented to be.

Warranty of authority: A representation by an agent to third persons that the agent has and is acting within the scope of authority conferred by his or her principal.

Working capital 1. The readily convertible capital required by a business to allow its regular functioning and operations to be free from financial embarrassment. 2. An excess, in accounting, of current assets less the current liabilities as of a date.

Workout Agreement: The negotiated agreement that is made with the lender or servicer to address a debt by the homeowner in order to avoid foreclosure.

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

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