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Real Estate Glossary
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real estate agent
An individual that is licensed to negotiate and transact the sale of real estate.
real estate broker
A broker is anyone who acts as an agent between two parties involved in a transaction. Typically a broker will not lend money but will find a larger lender or investor to do so. Some real estate agents are also brokers.
Recorder of Deeds
A government officer on the county level that is in charge of the office of land records. This individual is also known as a registrar of deeds.
refinance transaction
The process of paying off an old loan with the proceeds from a new one.
rent loss insurance
Insurance that protects a landlord against any losses of rent or rental value due to an accident, such as a fire, that prevents the leased premises from being used. In such a case, the tenant is excused from paying rent.
REO
A property that is owned by a lender as a result of foreclosure of mortgages or trust deeds. These properties are usually for sale.
replacement reserve fund
A fund that is set aside for the replacement of such things as roofing, mechanical equipment or carpeting. This is typical in a Planned Unit Development or condo.
right of first refusal
A provision in an agreement that requires the owner of a property to offer it for purchase or lease to another party before offering it for sale or lease to others.



Wailea Point Realty, Inc.

2439 S. Kihei Road,
Suite 201B
Kihei, Maui, Hawaii 96753

Dave Wagner (RB), Principal Broker
Judy Gray (RB), Broker-in-Charge
Renee Zaima (RB)
Julie Parker (RS)
Holly Lynn Tolosko (RS) ABR

TOLL FREE: 1-800-853-3518
Phone: (808) 879-7233
Fax: (808) 879-5199
Email: realty@waileapoint.com