|
R |
| real estate agent |
A person licensed to negotiate and transact the sale or lease of real estate on behalf of the property owner. |
| real property |
Land, with or without improvements. |
| rebate |
A refund, cash back, or monetary incentive such as a tax rebate or a first home buyer rebate. |
| redraw facility |
A loan where the borrower can make additional payments and then access these funds if necessary. There may be a minimum redraw amount and a fee associated with withdrawal. |
| refinance |
The process of replacing or extending an existing loan with money from the same loan institution or a new one. |
| REI |
Real Estate Institute of Australia is the national representative body of real estate agents. |
| rental guarantee |
A guarantee by a developer for a certain level of return on an investment property. |
| requisitions on title |
A process where the buyer requests additional information about the title of the property from the seller. |
| reserve price |
The minimum price at auction which a seller will accept. |
| right of first refusal |
A provision in an agreement that gives a party the first opportunity to lease or purchase a property before it is offered for lease or sale to others. |
residential
investment loan |
A loan to purchase an investment property. |
| 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 party or the general public to access or cross another property. |
| rise and fall clause |
A building contract clause which allows for an upward or downward final contract price according to fluctuation of material prices, wages or other factors specified in the clause. |
