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.