A structural element of the roof, sloping from the peak to the outer walls.
RANCH HOUSE
An architectural style typified by a single-story, low-roof construction. Popular in
the western U.S.
RATE LOCK
A guarantee from a lender of a specific interest rate for a period of time.
RAW LAND
Any land which has not been developed.
REAL ESTATE
A piece of land and any improvements or fixtures located on that land.
REAL ESTATE AGENT
A licensed professional who facilitates the buying and selling of real estate.
REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA)
A federal law requiring lenders to give full disclosure of closing costs to borrowers.
REAL PROPERTY
Land, improvements and appurtenances, and the interest and benefits thereof.
REALTOR
A real estate agent or broker who is a member of the National Association of
Realtors.
RECEPTACLE
An electrical outlet to plug into.
RECORDER
A local government employee whose role it is to keep records of all real estate
transactions within the jurisdiction.
RECORDING
The filing of a real estate transaction with the appropriate government agent
(normally the RECORDER). A real estate transaction is considered final when it is
recorded.
REFINANCE TRANSACTION
A new loan to pay off an existing loan. Typically to gain a lower interest rate or
convert equity into cash.
REGISTER
Where air from a furnace or air conditioning system enters the room.
RELOCATION SERVICE
Any company or agency that assists corporate employees in relocating from one
place to another. Services may include hiring and coordinating real estate agents,
moving companies, utilizes and the like.
REMAINING BALANCE
The amount of principal, interest and other costs that has not yet been repaid.
REMAINING TERM
The amount of time remaining on the original amortization schedule.
REMODEL
An activity designed to improve the value or desirability of a property through
rebuilding, refurbishing, redecorating or adding on to it.
REPAYMENT PLAN
A plan to repay delinquent payments, agreed upon between a lender and
borrower, in an effort to avoid foreclosure.
REPLACEMENT RESERVE FUND
An account, or fund, setup for the replacement of short life items , such as
carpeting, in the common areas of a cooperative property.
RESIDENTIAL PROPERTY
A piece of property whose highest and best use is the maintenance of a residence.
REVOLVING DEBT
A type of credit that allows the borrower/customer to make charges against a
predetermined line of credit. The customer then pays monthly installments on the
amount borrowed, plus interest.
RIDGE BOARD
The structural member of a roof where the rafters join at the top.
RIGHT OF FIRST REFUSAL
An agreement giving a person the first opportunity to buy or lease a property
before the owner offers it for sale to others.
ROOF PITCH
The degree of slope in a roof.
RURAL
An area outside of an established urban area or metropolitan district.
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Each Office Independently Owned and Operated
Information presented on this website is believed reliable but is not guaranteed
Copyright © 2004-2006 All Rights Reserved
CENTURY 21 Lindsey & Pauley
1745 Hwy 53 West · Jasper, Georgia 30143
Office: 706-692-3533 · Fax: 706-692-2366
info@lindseyandpauley.com
2004 CENTURY 21 Real Estate Corporation © and sm trademark and servicemark of
CENTURY 21 Real Estate Corporation. Equal housing opportunity.
