Real Estate Glossary

Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
 
Va - Var - Vi
Vara
A measurement or unit of length, usually 31 to 33 inches and predominantly South American or Spanish.
Variable
Subject to change.
Variable Interest Rate
Loan rate that changes based on fluctuations in the rate paid on Treasury bills or bank certificates of deposit.
Variable Rate Mortgage (VRM)
A loan with an interest rate that adjusts with the changes in rates paid on Treasury bills or bank certificates of deposit.
Variable Speed Drill
A power drill with a variable speed controlled by the trigger.
Variance
An allowable deviation from the land use prescribed by the existing zoning ordinances.
Varnish
A variety of waterproof finishes used to protect wood trim, furniture, and floors. Varnish is made from resin and sometimes includes a drying oil to speed the setting and hardening process.
Vault
Where something of value is kept, a secured place.
Vaulted Ceiling
An elongated half-cylinder shaped arched ceiling, i.e. a roof or ceiling shaped as an arch.
V-cap
Specially shaped ceramic tile, which is used at the edge of a counter.
Velocity
Speed.
Velometer
A device used to measure the velocity of air in an HVAC system.
Vendee
A buyer of real property.
Vendee's Lien
Legal right of a purchaser of a piece of real estate to the paid purchase price plus direct costs of acquisition, if the seller fails to render the deed to the property.
Vendor
A seller of real estate or other products.
Vendor's Lien
The seller's claim to property held by a buyer as collateral for a debt, also called a purchase money mortgage.
Veneer
Material of a better quality used to cover a lower quality surface to make it look better. Usually used on the exterior, bricks would cover concrete or better wood over cheap.
Vent
Pipe allowing air to flow into a drainage system.
Vent Header
A vent pipe into which several vents connect. The vent pipe leads to the vent stack and out of the building.
Vent Pipe
A pipe serving as a vent.
Vent Stack
A vertical line in a venting system leading out of a structure.
Vent System
A system of pipes and vents used to relive pressure in a system or route gas or liquid from a building.
Ventilation
The replacement of stale air with fresh air by circulation through a series of vents or a mechanical system, i.e. air conditioning.
Venture Capital
Financing source for new businesses or turnaround ventures with high risk/high reward possible. Venture capital can be anything from seed money to full financing and sources include wealthy individuals, limited partnerships and business investment companies.
Venue
Geographic location of a court action and should occur in the place where jurisdiction applies. Change of Venue, which is the move to another locality, occurs in a criminal action when a fair trial is precluded.
Verification
Sworn statement made before a qualified officer that the contents of a document are correct.
Verification of Deposit
A signed statement verifying the borrower's account balances and history and is part of the loan process.
Verification of Employment
Statement by borrower's employer to confirm the borrower's salary and position and is part of the loan process.
Verify
To collect supporting evidence. To prove.
Vermiculate
To decorate with wavy lines or patterns.
Vermiculite
A lightweight insulating material that expands when heated.
Versus
Against or compared to.
Vertex
  1. The intersection of two lines.
  2. A summit.
Vertical
Upright.
Vertical Application
Installation of wallboard with the long ends running vertically.
Vertical Board Siding
see Board and Batten Siding.
Vertical Pipe
A pipe installed vertically or no more than 45 degrees from vertical.
Vessel
A container.
Vest
To create an entitlement to a right or privilege.
Vestibule
Small entrance foyer.
Veterans Administration (VA)
A program of the Department of Veteran Affairs which allows most veterans to purchase a house without a down payment.

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Landmark Realty
Office:(541)
929-2586
       
(800)
346-0630
Fax:  (541) 929-3548

landmarkrealty@casco.net

405 Landmark Dr
Philomath OR 97370

Mon - Fri  9:00 - 5:30
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