VACANT POSSESSION VALUATION VARIABLE RATE LOANS VENDOR TERMS VACANT POSSESSION   Property not occupied by a tenant or subject to a lease. VALUATION A written report by a registered valuer setting out his estimate of the market value of a property. See also "Capitalisation Method" and "Summation Method". VARIABLE RATE LOANS   Loans with the interest rate made subject to periodical changes (up or down) in line with market changes or according to some formula. VENDOR TERMS   The sale of a property on the basis that the purchaser pays only part of the price on settlement, the balance being treated as a loan from the vendor for an agreed period, secured by the property, and often at a concessional interest rate, as an inducement to enter into the deal.