WAC

Definition

Walk-Away Cash—the net proceeds a seller receives after paying off mortgages, liens, commissions, and closing costs. It's the moment of truth when sellers discover whether they're taking home a check or writing one.

Example Usage

After all the fees and payoffs, my WAC was only $18,000 on a property I thought had $60,000 in equity—math is cruel.

Origin

Real estate closing and settlement terminology

Fun Fact

Many sellers are shocked when they see their estimated WAC on the closing disclosure, having forgotten about their second mortgage, that HELOC from 2015, and 6% in agent commissions.

Source: Real estate settlement and closing terminology

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condominium declaration

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blind pool

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restriction

The legal fine print that tells you what you can't do with your property, crushing dreams of backyard chicken coops and neon pink houses since time immemorial. These are the rules embedded in deeds, HOA bylaws, or zoning laws that limit how you can use or modify property. They're the reason you need to ask permission to build that treehouse in your own yard.

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