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Real Estate Glossary
Our glossary is the largest dictionary of real estate and construction terms on the Internet with almost 10,000 definitions.
- A measurement or unit of length, usually 31 to 33 inches and predominantly South American or Spanish.
- 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.
- An allowable deviation from the land use prescribed by the existing zoning ordinances.
- 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.
- 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.
- Specially shaped ceramic tile, which is used at the edge of a counter.
- A device used to measure the velocity of air in an HVAC system.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- To collect supporting evidence. To prove.
- To decorate with wavy lines or patterns.
- A lightweight insulating material that expands when heated.
- Against or compared to.
- The intersection of two lines.
- A summit.
- 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.
- A container.
- To create an entitlement to a right or privilege.
- 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.