Albuquerque NM Real Estate Key Terms
Vacancy Factor is the percentage of time a rental facility is vacant.
Vacate is to give up occupancy or surrender possession
Valid is legally sufficient or effective.
Valuable Consideration is the granting of some beneficial right, interest, or profit, or the suffering of some legal detriment or default by one party in return for the performance of another, usually as an inducement for a contract.
Variable Interest Rate is an interest rate in which the lender is allowed to change the interest rate based on an agreed to index such as the prime interest rate.
Variance is permission obtained from a government entity to build a structure or conduct a use that is not currently allowed by current zoning laws.
Vendee is the buyer.
Vendor is the seller.
Vendor’s Lien is an equitable lien that belongs to a vendor for the unpaid purchase price of land.
Veteran’s Administration Loan (VA Loan) is a government sponsored mortgage assistance program available to eligible veterans used for purchasing a home or building a new home.
Voidable Contract is a contract that seems to be valid on the surface but may be rejected or disaffirmed by one or both of the parties.
Void Contract is a contract that has no legal force or effect because it does not meet the essential elements of a contract.
Voluntary Lien is a lien placed on property with the knowledge and consent of the property owner.
Myers & Myers Real Estate is a full service real estate brokerage located in Albuquerque New Mexico. We help home buyers and home sellers in the Albuquerque metro achieve their real estate goals. Our website has every home for sale in the Southwest Multiple Listing Service. Check out homes for sale in Albuquerque, homes for sale in Rio Rancho, homes for sale in Corrales, homes for sale in East Mountains, homes for sale in Valencia County, and homes for sale in Los Lunas.