Radon -- A radioactive gas which seeps up from the ground and can cause health problems. A radon test is often part of the home inspection.

Realtor -- A real estate broker or an associate holding active membership in a local real estate board affiliated with the National Association of Realtors.

Recision -- The cancellation of a contract.

Recording fees -- Money paid to the lender for recording a home sale with local authorities, making it public record.

Refinance -- Obtaining a new mortgage loan on a property already owned, often to replace existing loans.

Real Estate Settlement Procedures Act (RESPA) -- A federal law that allows consumers to review information on known or estimated settlement costs once after application and once prior to (or at) settlement.

Reverse annuity mortgage (RAM) -- A mortgage in which the lender makes periodic payments to the borrower using the borrower's equity in the home as collateral.

Right of first refusal -- A portion of an agreement that requires a property owner to give one party the opportunity to buy or lease the property before the property is made available to other potential buyers.

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