| Vacant |
|
| Period of time where the property is empty/unoccupied. |
|
| Vacant Possession |
|
| A phrase usually used in an agreement for sale meaning that the property is being sold empty/vacant/unoccupied. |
|
| Valuation/Appraisal |
|
| A full inspection of the property, conducted by a valuator/valuer, who will then write a detailed report setting out the value of the property. Suitable for any house, commercial building or parcel of land. |
|
| Value |
|
| The price of a property under normal conditions, i.e. when the buyer is not forced to buy and the seller not forced to sell. |
|
| Variable base rate |
|
| The basic rate of interest charged on a mortgage. This may change in reaction to market conditions, so monthly payments can go up or down. |
|
| Vendor |
|
| The person selling a property. |
|
| Void |
|
| An empty area or space. |
|
