NVAR has made several recent updates to the Virginia Residential Sales Contract
Notable form updates are:
- Reformatted paragraph 2 to clearly state Sales Price at the top
- Appraisal contingency disclosed on Page 1 due to importance
- Gives seller option to Void contract if EMD not timely delivered by buyer
- Clarifies whether or not access will be allowed for inspections if there is no inspection contingency
- Clarifies that installed Smart devices convey unless otherwise specified
The Board made several other changes to the forms. Click to review the full NVAR Summary of Changes.