Real Estate Glossary - Letter R

Rate

Amount or quantity relative some basis

Rate of Return

The total gain or loss, expressed in percentage, gained from an investment; usually calculated on a yearly basis.

Rate adjustment date

The specific date in an adjustable rate mortgage when the interest rate is adjusted or changed.

Raw land

Any undeveloped land in its natural state.

Ready, willing and able buyer

A person who is prepared and firm on his decision to consummate a real estate purchase transaction.

Real Estate Owned

Any foreclosed or-repossessed property owned by a lending institution in which acquisition was due to mortgage default.

Real estate

Any portion of land which includes all its permanent, natural and man-made attributes.

Real estate agent

A state-licensed individual authorized to negotiate real estate transactions by a real estate broker.

Real estate broker

A person, partnership or corporation who brings together buyer and seller for a commission; must be state licensed.

Real estate financing

The purchase of a property thru borrowed or equity funds.

Real estate market

The total amount of buyers and sellers of real estate properties at the current time.

Real estate tax

Government-imposed tax paid by the property owner based on the property’s appraisal value.

Real property

Any land and all the permanent fixtures on it including trees and buildings.

Reconveyance

A legal document issued when all liens and claims created by a deed of trust on a property are removed .

Recording

The process of documenting a file done by county public officials to make it available to the public.

Refinancing

The payment of an existing loan with money from a new loan.

Registrar of Deeds

The government agency responsible for issuing and transferring titles, recording and maintaining public records.

Release clause

A clause or provision in a sales contract that allows the seller to continue to accept other offer; provision in a mortgage which pertains to a portion of a property that can be freed from any liens upon payment of a specific amount.

Rent control

Any regulation imposed by municipal ordinance or federal law that limits rent increases annually.

Restriction

Any limitation imposed on the use of a property.

Return on investment

Calculated based on the money gained or lost in an investment.

Return of investment

A regain of money invested from a sale or depreciation.

Right of occupancy

Having legal right to use and occupy a property under a lease contract.

Risk analysis

A scientific and systematic method of calculating risks based on the occurrence of specific events and the magnitude of their consequences.

Rollover loan

A loan that allows a borrower to renew or extend the loan’s term.