Purchase Agreement (Va_PurchaseForm.doc): Fill in the information that will not change plus your asking price in paragraph 3, and print several copies. Paragraphs 4 and 5 can’t be filled out without a potential buyer who has agreed to your price (or offered an acceptable alternative). The Buyer must be prepared to say how much cash he or she can offer as a down payment and what kind of mortgage loan he or she will try to get.
Residential Property Disclosure Statement (Va_SellersDiscloseForm.): Virginia Sellers may fill in this form and let the Purchaser examine the Property for things that need repair,
OR use the Residential Property Disclaimer Statement (Va_DisclaimForm.) Virginia Sellers may choose to sell their property “As Is” and use this document rather than the Property Disclosure. An “As Is” sale is usually at a lower price than a sale where the Purchaser can examine the property and request repairs.
Lead Based Paint Addendum (Va_LeadPaintForm.doc): If the home was built in 1978 or later, indicate that and attach the basically blank form to the Purchase Agreement. If the home was built prior to 1978, answer the questions and print several copies for attachment to Purchase Agreements.
Additional forms and contracts for selling a house in Virginia
Counter Offer (Va_CounterOffer.doc): This is a mostly blank form that allows the Seller to specify the Offer to which he or she is responding, and write in changes that make that offer acceptable (as an alternative, the Seller may simply cross out unacceptable terms and return the original offer to the Buyer). A Buyer may use a Counter Offer to respond to the Seller.
Escrow Agreement (Va_Escrow_Agreement.doc): When selling a home with the help of a real estate broker, the broker usually holds the Buyer’s earnest money deposit. The Escrow Agreement provides a place for the Seller and Buyer to name a third party to hold earnest money and other deposits. It also specifies the conditions under which the deposit are returned to the Buyer or transferred to the Seller.
Homeowner’s Association Disclosure (Va_HomeAssocDisclose.doc): Many homes built after 1980 are in sub-divisions where owners are required to join Homeowner’s Associations and pay dues to maintain common property. Fill out this form if your Buyer will be required to join a Homeowner’s Association.
Forms for estimating net cash to Seller, and a Buyer’s ability to afford the asking price.
Net to Seller (Net_To_Seller.doc): This form allows user to enter estimates of all closing costs (balance on current mortgage loan, attorney’s fee, Title search, etc). The user manually subtracts the total estimated cost from the Purchase Price to get the amount of cash the Seller will receive at closing.
Buyer Pre-Qualification (Buyer_Pre_Qualification.doc): This form records the prospective Buyer’s annual income and expenses and provides manual calculation formula to determine if Buyer can afford the asking price.
Buyer Pre-Qual Sample: Buyer Pre-Qualification form filled out for a Buyer with $48,000 annual income. Based on the sample Buyer’s monthly expenses, the form estimates that Buyer can afford a $144,000 house.
Sample Sales Contract (Sample_Sales_Contract_1stP.doc): This is the filled out first page of a sample Virginia Purchase Agreement. In most cases the first page requires more information from the Seller than the rest of the pages combined. Much of it requires input from a potential Buyer willing to say how much cash he or she will provide for a down payment and the size and type of mortgage loan he or she will seek.
Agency and Brokerage Attachment (BrokerageAttach.doc): If Seller or Buyer is represented by a real estate broker, the broker must state who they are representing and in what capacity. This form also allows the broker to specify the commission to be paid by the Seller as well as the percentage to be paid to the Selling Broker and to the Listing Broker
Condominium Sales Contract (Condominium_PurchaseForm.doc): This is essentially a Sales Contract (or offer to Purchase Agreement) with special paragraphs to handle the requirements of a condominium sale.
Lease with Purchase Option (Lease_With_Purchase_Option.doc): Allows a potential Buyer to lease the property and specifies a date by which this Buyer/Renter can opt to purchase the property at a specified price
Documents for renting the property
Rental Application (Rental_Application.doc): The first page of this three page document is designed to be filled out on line by the landlord while the other pages are for the rental applicant to fill in by hand.
Rental Residential Lease (Rental_Residential_Lease.doc): A standard residential lease designed to be filled out on-line by the landlord.
Rental Walk Through checklist (Rental_Walk_Through_checklist.doc): Designed to be filled in by hand, this document can be filled out on-line by typing above input descriptors such as “Tenant Name”. The purpose of the document is to records the status of the property when the tenant moves in and again when the tenant moves out.
General Amendment (Va_GeneralAmend.doc): This is essentially a blank form to provide space for the Seller and Buyer to specify terms not included in the Purchase Agreement. In most cases, the new terms can be copied from our Special Stipulations form, or ‘cut’ and ‘pasted into the blank space on the General Amendment.
Certify Non-Foreign Status (Va_Non_Foreign.doc): The Internal Revenue Service requires Buyers to withhold taxes from the purchase price of homes sold by foreign persons. This is true in every state but is primarily enforced in areas where foreign ownership is common.
Septic Disclosure Form (Va_SepticDisclosureForm.doc): This form provides a means for the Seller to tell the Buyer if the onsite sewage system is subject to repair requirements imposed by the Virginia State Board of Health .
Special Stipulations (Va_SpecialStips.doc): This is a plain text document with 24 clauses (paragraphs) that describe situations Sellers and Buyers often want to include in the contract. For instance, a Buyer may want to make the contract subject to approval of a father-in-law who is financing the purchase. These stipulations are in plain text format so they may easily be ‘cut’ and ‘pasted’ into the ‘Additional terms’ section of the Purchase Agreement or into a General Amendment
Vacant Land Purchase and Sale (Vacant_LandPurchaseForm.doc): A Purchase Agreement where special paragraphs dealing with vacant land are inserted to replace paragraphs dealing with improvements and inspection of buildings.
The following documents assist the Seller in providing financing to a Buyer with insufficient cash or loan capacity. Seek the advice of a real estate attorney before using these documents.
Lease with Purchase Option (Lease_With_Purchase_Option.doc): Allows a potential Buyer to lease the property and specifies a date by which this Buyer/Renter can opt to purchase the property at a specified price.
Seller Financing multiple document (Seller_financing.doc): This document includes the following four documents. Each can be filled out and printed separately by selecting the appropriate pages.
Balloon Note: This is a mortgage loan with fixed monthly payments similar to a 30 year fixed rate mortgage, but the entire balance comes due usually within three years. The 3 years gives the Buyer time to arrange permanent financing through a regular mortgage loan provider. If the Buyer makes his or her payments on a timely basis but is unable to get permanent financing at the end of the loan period, the Seller will usually extend the Balloon Note for another 3 years (at a negotiated interest rate).
Balloon Note Sample: A sample balloon note filled out for a $45,000 loan that must be fully repaid within two years.
Mortgage Bond: Creates a regular mortgage loan from Seller to Buyer. This can be a first mortgage loan to fully finance the purchase, or a second mortgage to cover the difference between the price of the property and what the Buyer can finance.
Discharge of Mortgage: Used to certify that a mortgage loan from Seller to Buyer has been completely paid.