Valuable Consideration:
The granting of anything to which a value can be attached, given by the promisee to the promisor. Valuable consideration is a necessary element of a contract and can include money, work, beneficial right, interest, performance, assets, a promise, or abstaining from an act. Whatever is given or is to be given is referred to as valuable consideration.

Valuation:
In real estate, valuation is written analysis of the estimated value of a property prepared by a qualified valuer also known as the appraisal of property. In finance, valuation is the process of determining the present value (PV) of an asset.

Variable-Rate Mortgage:
A mortgage where payments are fixed, but the interest rate moves in response to trends (it could change from month to month depending on market conditions. If interest rates go up, a larger portion of your payment goes to the interest; if rates go down, more goes to cover the principal.

Vendor:
A person (or business) who sells particular type of product. In real estate a seller of real property.

Vendor Financing (Balance of Sale):
The seller sometimes takes the mortgage at a rate lower than market rates. Most of these arrangements are not renewable or transferable to the next owner.

Void:
Not valid or legally binding; having no force or effect.

Voidable:
In law, a transaction or action which is voidable is valid, but may be annulled by one of the parties to the transaction. A contract that is voidable is one where the offended party may make a choice.