V

VACANCY FACTOR - The percentage of a building's space that is not rented
over a given period.
VALID - Having force, or binding force; legally sufficient and authorized by
law.
VALLEY - The internal angle formed by the junction of two sloping sides of a
roof.
VALUATION - Estimated worth or price. Estimation. The act of valuing by
appraisal.
VA LOAN - A loan made to qualified veterans for the purchase of real property
wherein the Department of Veteran's Affairs guarantees the lender payment of
the mortgage.
VALUE - Present worth of future benefits arising out of ownership to typical
users/investors.
VARIABLE INTEREST RATE - (VlRs or VMRs, Variable Mortgage Rates.)
An interest rate in a real estate loan which by the terms of the note varies
upward and downward over the term of the loan depending on money market
conditions.
VENDEE - A purchaser; buyer.
VENDOR- A seller.
VENEER- Thin sheets of wood.
VERIFICATION - Sworn statement before a duly qualified officer to
correctness of contents of an instrument.
VESTED - Bestowed upon someone; secured by someone, such as title to
property.
VOID - To have no force or effect; that which is unenforceable.
VOIDABLE - That which is capable of being adjudged void, but is not void
unless action is taken to make it so.
VOLUNTARY LIEN - Any lien placed on property with consent of, or as a
result of, the voluntary act of the owner.