Glossary / Abbreviations

To help you understand the some of the terminology and 'jargon' that may be used when purchasing a property, we have complied this listing.

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Valuation - A written analysis of the estimated value of a property prepared by a qualified valuer.

Variable Expenses - are those expenses which may vary in both amount and frequency. For example, your electricity bill is different each time, because the amount of electricity you use each month is never the same. Other examples might include medical expenses, petrol, and your food bill.

ven blds - venetian blinds

Vendor - The seller or a property.

ver - verandah

vic - Victorian (architectural style)

Villa - A single storey attached property with common walls, similar in styler to a townhouse.

vp - vacant possession