A radioactive gas that has been found to be a cause of cancer. For real estate purposes, especially in the Northern half of the United States, it is relevant in that it can seep into homes. It is important to have a radon test completed before the purchase of your home. If radon is found to be above an acceptable level, there are radon remediation systems available to protect the health of the occupants of the home.

A refinance transaction in an amount that does not exceed the balance due on the loan being refinanced plus any costs associated with the new loan transaction.

A discounted rate of title insurance that is offered when the property being insured was previously insured by an existing title insurance policy. The amount or availability of a discount may vary, based upon the length of time since the issuance of the existing title policy. In refinance transactions, the re-issue rate is often referred to as a refinance rate.

A person licensed to negotiate and transact the sale of real estate. Generally, real estate agents cannot work by themselves and must work for a real estate broker.

A person licensed to negotiate and transact the sale of real estate. In general, a broker can work independently, and they are often perceived to be more experienced and better trained than agents.

Land and any improvements permanently affixed to it, such as buildings.

A real estate agent, broker, or an associate that is an active member of the National Association of Realtors.

The filing of a document with a government agency that becomes part of the permanent records of the registrar's office.

Paying off an existing loan with the proceeds from a new loan, and using the same property as collateral.

The public official who keeps records of transactions that affect real property in the area. Where documents are recorded varies according to local rules and can include town clerk's offices, county clerk's offices, and other locations.

A provision in an agreement that requires the owner of a property to give another party the first opportunity to purchase or lease a property before he or she offers it for sale or lease to others. Can also require that the person holding the right of first refusal be given the opportunity to match any offers made to buy or lease the property.

The right of a borrower to cancel a loan transaction within three business days of signing the closing documents.