Free Real Estate Vocabulary Flashcards

Pass the real exam by knowing all of the vital real estate vocabulary terms that are crucial to passing the real estate licensing examination. Study all of the important real estate glossary terms and definitions, and pass with confidence!

VA

See: Department of Veterans Affairs

VA Escape Clause

A clause stating that the buyer (borrower) shall not be obligated to buy nor shall any deposit be lost if the appraisal is less …

VA Loan

See: VA Mortgage

VA Mortgage

A loan guaranteed by The Department of Veterans Affairs These loans are restricted to eligible veterans and require little or no down payment

VA Mortgage Funding Fee

A closing cost either paid in full at closing or financed It is one of the costs to obtain a VA guaranteed loan

Vacancy

A place which is empty (vacant) The term is generally used to describe a property available for rent

Vacancy and Collection Losses

Estimate as tohow much future income may be lost when abuilding isn’t fully occupied or tenants don’t payrent

Vacancy Factor

The estimated percentage of vacancies in a rental project May be based on past records of the property, or a professional guess if a …

Vacancy Rate

See: Vacancy Factor

Vacant Land

Land without buildings May or may not have improvements, such as grading, sewers, etc

Vacate

(1) To move out (2) A legal term meaning to set aside or annul, as to vacate a judgment

Valid

Legally binding Properly carried out in accordance with legal procedures