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.
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