Thursday, May 16, 2024, 9:00 PM
Site: Burk Baker School of Real Estate & Appraising
Course: DEMO (DE101)
Glossary: Real Estate Glossary
U
UTILITYThe usefulness of an item; its ability to satisfactorily function for the purpose for which it was intended. |
V
VA GUARANTEEThe loan amount which the Veteran's Administration will guarantee on loans to eligible veterans or their surviving spouses. |
VALIDHaving binding force; legally sufficient and authorized by law. |
VALUABLE CONSIDERATIONMaterially valuable items pledged to fulfill one requirement of a valid contract. |
VALUATIONThe estimated worth of property. |
VALUEThe worth of one thing in comparison with another; the market value; something desirable and therefore having worth. |
VARIABLE RATE LOANA loan in which the interest rate rises or falls according to an indicator of market interest such as the Prime Lending Rate. |
VARIANCEPermission obtained from zoning authorities permitting the construction of a building or structure that is forbidden by present zoning ordinances; a departure from the general rule. |
VENDEEThe buyer. |
VENDORThe seller. |