by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate transactions, a vendor is the seller or person who transfers property by sale. The term is commonly used in connection with land contract or installment sale arrangements. In a land contract, the vendor retains legal title to the property until the...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate transactions, a vendee is the purchaser of property, particularly in the context of a land contract or installment sale agreement. The vendee agrees to make payments over time in exchange for the right to acquire title. Under a land contract, the vendee...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate and land use regulation, a variance is a modification or exception granted from specific zoning requirements for a particular property. It allows the property owner to deviate from certain standards without changing the underlying zoning classification....
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate finance, a variable interest rate is an interest rate that changes over time in response to movements in prevailing market rates. The rate may increase or decrease depending on the terms of the loan and the underlying index to which it is tied. In...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate, valuation is the process of estimating the value of property. It involves analyzing relevant data to determine a property’s worth as of a specific date. Valuation is commonly performed through an appraisal, which applies recognized methods and...
by Ethan Atkinson | Feb 15, 2026 | PropertyPedia, U-Z
In real estate and legal practice, valid refers to something that has legal force or binding effect. A valid document, agreement, or action is legally sufficient and recognized as authorized by law. For a contract or instrument to be valid, it must meet the required...
