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
Related Terms
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See “WAC” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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