VACANCY FACTOR - An allowance or discount for estimated vacancies(unrented units) in a rental project. The vacancy rate is the ratio between the number of vacant units and the total number of units in a specified project or area

VALUE - The power of a good or service to command other goods in exchange for the present worth of future rights to income or amenities; the present worth to typical users and investors of future benefits arising out of ownership of a property

VARIANCE - Permission obtained from governmental zoning authorities to build a structure or conduct a use which is expressly prohibited by the current zoning laws; an exception from the zoning laws

VENDEE - The purchaser of realty; the buyer. The buyer under an agreement of sale

VENDOR - The seller of realty. The seller under an agreement of sale

VOID - Having no legal force or binding effect; a nullity; not enforceable. A contract for an illegal purpose (i.e. gambling)is void

VOIDABLE - A contract which appears valid and enforceable on its face, but is subject to rescission by one of the parties who acted under a disability, such as being a minor or being under duress or undue influence; that which may be avoided or adjudged void but which is not, in itself, void.

Michael & Cindy Morris
Keller Williams Realty, Gulf Coast
Michael (727) 251-7447
Cindy (727) 480-8427
FAX (727) 397-5978

Contact Us
ocean@tampabay.rr.com

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Keller Williams Realty, Gulf Coast
13800 Park Blvd.
Seminole, FL 33776