Article question: The value of the property vs. Value of property

English as a Second Language English Vocabulary, Grammar and Idioms
1

Hi,

I read the following sentence in a book. The sentence refers the word property twice. I don’t understand why the author has not used any article before ‘property’ in the second case.

[color=blue]A loan-to-value ratio is a basic yet important ratio that expresses the relationship of borrowed funds as a percentage of the value of the property. The term is also called LTV. From a lender’s perspective, the LTV is usually the lesser of the acquisition price or the appraised value of property.

Thanks,

MG.

2

Hi MG,

It might help if you added words to the two examples you have quoted and that will show the use of the article or not:

value of the property in question/mentioned

appraised value of property in general.

Alan

3

Alan,

Thanks. I thought in the second case the sentence was still referring to the property mentioned in the first case.