Definitions - V
- Vacant Possession
- Possession of a property free of the presence of any people, possessions or rubbish.
- Valuation
- A very simple form of survey designed to establish the market value of the property.
- Valuation Report
- This is a report carried out by the lenders surveyor. This is the most basic report carried out on the property which is commissioned by the lender and for their benefit only. It only advises them whether the basic structure of the property is of sufficient value to protect the lenders interest in the property.
- Vendor
- See Seller
