| VA |
| The Veterans Administration, a federal agency which guarantees loans made to qualified veterans on approved property |
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| vara |
| A measurement of length of 33 1/3 inches. Used in some states like Texas |
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| variable rate |
| An interest rate that changes periodically in relation to an index. Payments may increase or decrease accordingly |
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| variance |
| An exception to a zoning ordinance, usually granted by a local government. For example, if you own an oddly shaped lot that could not accommodate a home in accordance with your city's setback requirement, you could apply at the appropriate office for a variance allowing you to build closer to a boundary line |
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| vendee |
| Purchaser |
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| vendor |
| Seller. |
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| view ordinance |
| A law adopted by some cities or towns with desirable vistas--such as those in the mountains or overlooking the ocean--that protects a property owner from having his or her view obstructed by growing trees. View ordinances don't cover buildings or other structures that may block views.
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| village acre |
| A lot size used in the Houston area to denote a 40,000 square foot parcel. In the Memorial Villages of Bunker Hill, Hedwig, Hillshire, Hunter's Creek, Piney Point and Spring Valley, lot sizes are often expressed in village acres or a fractions of village acres. The term was coined by developers who successfully lobbied for slighty smaller, minimum lot size requirements, in the cities' zoning regulations.
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| virtual home tour |
| Any method used to provide internet users with a graphical presentation of a home, or homes. Presentations may include web pages, java applets, streaming video, panoramic images and bubble views.
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| void |
| Having no legal force or effect; legally invalid |
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| voidable |
| A contract which appears valid and enforceable on the surface, but may be declared invalid by one of the parties, such as a contract entered into by a minor |
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