Real Estate Markets are very different and many things are handled differently from one state to another. We have assembled a glossary of the most common terms used in the Florida Real Estate Market to assist our American clients and the many international clients from Canada, United Kingdom and other countries across the world.

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Vacancy and collection losses

A deduction from potential gross income for (1) current or expected future space not rented due to tenant turnover and (2) loss from uncollected rent due from delinquent tenants

 

Vacancy rate

The percentage of rental units that are not occupied.

 

Vacate

To set aside, cancel, or annul; to leave empty

 

Valid

Sufficient to be legally binding, enforceable

 

Valid contract

An agreement binding on both parties and legally enforceable against all parties to the agreement.

 

Value

The worth of something.

 

Variance

An exception to zoning regulations or ordinances granted to relieve a hardship

 

Vendee

The buyer or purchaser of real property under an agreement of sale.

 

Vendor

The seller of real property in an agreement of sale

 

Void

Invalid; without force; no longer effective

 

Voidable

A contract that because of the manner or method in which it was brought about, one of the parties is allowed to avoid his or her contractual duties

 

Voluntary liens

Claims imposed against real property with the consent of the owner.

 

We hope you found the above links useful, and remember, if you have any questions regarding buying or selling your Florida Holiday Home or permanent residence in the Disney Orlando area please contact us - we look forward to your call.