Real Estate Glossary Terms Beginning With – V

Updated: November 22, 2021

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Terms Beginning With - V

Property Development & Investment Glossary, Terms & Definitions

Vacancy factor

The expected vacancy rate of a property.

Vacant land

Land that has not been renovated.

Vacate

To emigrate

Value

The value or utility of a product or service.

Variable expenses

The running costs that fluctuate depending on the property's occupancy.

Variable rate mortgage (VRM)

A mortgage with variable interest based on a specified index rate.

Vendee

A person who buys real estate.

Vendor

A person who sells real estate.

Veterans Administration (VA)

A federal agency that grants house loans to veterans who qualify.

Void

Legally ineffective.

Volume per square feet

This approach involves multiplying the modified gross building volume in square feet by a predefined cost per unit of volume to estimate the likely final construction cost.

Voluntary lien

A lien put on property with the owner's permission.

Glossary Index

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