Real Estate Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

R

Radon	A radioactive gas that can cause health problems if present in sufficient concentration, found in some structures
Rate cap	In an adjustable-rate loan, the ceiling on the amount that the interest rate can be increased at each adjustment
Rate lock, or lock-in	A commitment to a specified fixed interest rate for a designated period of time, issued by a lender
Real estate agent	An individual trained and licensed to negotiate the sale of real estate on behalf of the property owner
Real estate investment trust (REIT)	An organization of individuals who purchase certificates of ownership in the trust, which then invests their money in real property, distributing the profits back to the individual investors free of corporate income tax
Real Estate Settlement Procedures Act (RESPA)	A federal consumer protection law that requires certain disclosures of lenders to consumers relative to mortgage loans
Real property	Land and appurtenances permanently on it, including buildings, trees, minerals, and the interest, benefits, and inherent rights thereof
Realtor	A real estate professional who holds active membership in a local real estate board that is affiliated with the NATIONAL ASSOCIATION OF REALTORS®
Realtor®	The registered trademark reserved for the sole use of members of local Realtor boards affiliated with the NATIONAL ASSOCIATION OF REALTORS®; other real estate professionals who do not belong to the local board may not advertise themselves as Realtors
Recision	The cancellation or annulment of a transaction or contract based on law or by mutual consent
Recording	The entering or noting of documents affecting all transactions of real estate in the recorder's office in each county, making it public record; until recorded, a mortgage or deed is usually not valid against subsequent buyers
Recording fees	Payment made to the lender for recording the sale of a property with the county office
Refinance	To obtain a new mortgage loan on a property already owned
Regulation Z	A federal law that requires disclosure by a credit institution or lender of the terms, conditions, and full cost of a loan or mortgage, including the annual percentage rate and any other charges, to the borrower when they apply for the loan
Remainder	An interest in land that is postponed until the termination of some other interest
RESPA	Abbreviation for the Real Estate Settlement Procedures Act, which is a federal law that requires lenders to provide information on estimated settlement costs, which is available for review by the buyers one time after application, and again once prior to or at the closing
Restrictive covenants, or Protective covenants	A provision in a deed that limits how real estate ownership may be used
Reverse-annuity mortgage (RAM)	A loan or mortgage whereby the amount of the monthly payments the borrower receives is based on accumulated equity, rather than on the agreed-upon total sum loaned
Reversion	A clause in a transfer of title that returns the property to the grantor upon specified events or occurrences happening
Right of first refusal	The right specified in an agreement to have the first opportunity to purchase or lease a given property before it is offered to others, or alternately, the prior right to purchase a property based on the same terms made by another buyer that were acceptable by the seller
Right of survivorship	In joint tenancy, when one of the joint tenants dies, the right of the survivors to the deceased's interest in the property
Right-of-way	Permission to pass across the property of another
Riparian rights	The right of an owner of property to make use of waterways adjoining the property

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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Cindy Osborne, Broker/ Owner RE/MAX Preferred Realty 208 South Main Street Statesboro, GA 30458 Cell: 912-601-6000 Email: cindy@cindySOLDit.com Cindy specializes in representing her clients in the purchase and sale of single-family residences, land and income property within the cities of Statesboro, Brooklet, Metter and Portal. She is also very familiar with Georgia Southern University in Statesboro having helped parents and investors buy and sell homes and condo's on and around the campus.She keeps current on all transactions in these areas, and is also very knowledgeable about the local schools. She carries a brokers license which means she is held to a higher standard of service and professionalism. She also has an ERS designation as a Relocation Specialist and understands this better than most having lived in more than 7 states in her adult life. She has the expertise and experience to work for you. You will enjoy her abundant energy and excitement about helping you call Georgia home. She really understands the work it takes to find the right home and will be there to walk you thru every step. She knows her job is not complete until you are totally satisfied and at ease with your transaction. Give Cindy a call today!!! 912-601-6000 www.cindySOLDit.com is brought to you by Cindy Osborne, real estate for Statesboro and Brooklet, Georgia Read Cindy Osborne's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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