Commercial, Residential, Rental Properties in India
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Real Estate Glossary
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R Terms :

Rafter
Part of the framework of the roof, the rafters slope down from the ridge to the eaves.
Raw Land
Unimproved land that remains in its natural state.
Real Estate
Also called "real property." (1) Land and anything permanently affixed to the land, such as building, fences and those things attached to the buildings, such as light fixtures, plumbing and heating fixtures, or other such items that would be personal property if not attached. (2) May refer to rights in real property as well as the property itself.
Real Estate Agent
A person licensed to negotiate and transact the sale or lease of real estate on behalf of the property owner.
Real Estate Owned
Real estate that has come to be owned by a lender, including real estate taken to satisfy a debt. Includes real estate acquired by lenders through foreclosure or, in settlement of some other obligation.
Real Property
Land, with or without improvements.
Realtors
A real estate agent or broker who is a member of the NATIONAL ASSOCIATION OF REALTORS, and its local and state associations.
Realty
Real property: property consisting of houses and land
Redraw Facility
A loan where the borrower can make additional payments and then access those funds when required. There may be a minimum redraw amount.
Refinance
The process of paying off one loan with the proceeds from a new loan using the same property as security.
Rehab
An extensive renovation of a building or project which is intended to cure obsolescence of such building or project.
REI
Real Estate Institute of Australia. National representative body of real estate agents. REIV is the representative body in Victoria; REIQ in Queensland, etc.
Repayment
Refund: the act of returning money received previously
Representation Agreement
An agreement between the owner of a property and a real estate broker giving the broker the authorization to attempt to sell or lease the property at a certain price and terms in return for a commission, set fee or other form of compensation.
Request for Proposal
The formalized Request for Proposal represents a compilation of the many considerations that a tenant might have and should be customized to reflect their specific needs. Just as the building’s standard form lease document represents the landlord’s wish list, the RFP serves in that same capacity for the tenant.
Requisitions on Title
A process where the buyer requests additional information about the title of the property from the vendor.
Reserve Price
The minimum price which a seller will accept at auction.
Retail Market
Market in which energy is sold directly to the end-user customer.
Right of First Refusal
A provision in an agreement that gives a party the first opportunity to purchase or lease the property before it is offered for sale or lease to others.
Right of Survivorship
In joint tenancy, the right of the survivors to acquire the interest of a deceased joint estate.
Right of Way
A right of one property or the general public for access to or across another property.
Rise and Fall Clause
This clause may be contained in a building contract. It provides for an upward or downward contract price which correlates to the movement of prices, wages or other factors specified in the clause.
Roof Pitch
The slope of the roof.


 


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