DPOR provided a version of the Residential Property Disclosure Statement with signature blocks effective July 1, 2017, which consolidated the notification and all disclosures into one three-page form. In response to feedback from real estate licensees, the Real Estate Board modified the forms so that only the one-page acknowledgement form directing purchasers to the website is required to be signed by parties.
If you had a property that went under contract between July 1-10, 2017, and you used the three-page form on the Real Estate Board website, you are in compliance with Virginia law and do not need the parties to sign the new one-page acknowledgement form.
After July 10, 2017, sellers are required to provide notification to purchasers about the Residential Property Disclosure Statement website using the acknowledgement form to be signed by the seller and purchaser.
Important Information for Purchasers
Selling Homeowners MUST complete:
Selling Homeowners may also need to complete one or more of these forms:
Common Interest Community
Asbestos & Lead
Courts around the country ruled on a large number of independent contractor misclassifications in April 2017, with both good news and bad news for companies. When companies properly classify individuals as independent contractors, and maintain all of the necessary formalities, courts are upholding these classifications. However, when a worker is misclassified, it can be costly. Seven- and eight-figure exposure is becoming commonplace for large and medium-sized business. The Virginia REALTORS® offers resources such as an Independent Contractor Agreement (Form 1700) for use with agents. Check out more resources from the Virginia REALTORS® and National Association here.
The Peninsula Real Estate School delivers a classroom continuing education for Brokers which is taught in two modules:
Broker Management Module 1:
Understand the importance of keeping pace with emerging trends in real estate now and in the future. Discuss changes that have impacted today’s real estate businesses and the job of managers & changes that could create challenges in the future.
Broker Management Module 2:
Building your offense; Insuring Against Risk; Dispute Resolution; Property Disclosures; Anti Trust; Communication Issues and Policies; RESPA; Fair Housing; Controlled Business Arrangements
Please see the classroom schedule below:
Cost: $30 per module or $60 for both – for members Non-members add additional $5 to each module
Classes are from 8:30 a.m. – 12:30 p.m. (Module 1) and 1:30 p.m. – 5:30 p.m. (Module 2). You are given an hour lunch.
Register at members.vpar.realtor or call 757-599-5222 to pay by phone. Email Jo McNamara, Education Director with any questions.
VPAR reserves the right to cancel a class if less than 10 people are registered. Student must give 48 hours notice of cancellation for a full refund. Please notify us in advance if you have a disability that requires additional services.
Registration for VAR Fall Broker Day 2016 is now open. This comprehensive program was designed for brokers especially like you. If you are seeking to improve your management skills, earn broker CE credits, network with brokers from across the state, and most importantly – learn new ways to grow your business, then you won’t want to miss this event.
Date & Location
Thursday, October 20, 2016, 9:00 AM to 4:00 PM
Four Points by Sheraton Richmond, 9901 Midlothian Turnpike, Richmond, VA 23235
President and Owner,
Deputy General Counsel,
Virginia Association of REALTORS®
Industry Trends, Best Broker Practices & Brokerage Benchmarks
Ask the Expert Panel – Q&A
Mock Hearing: Informal Fact Finding
Broker Supervision the Right Way
Read full descriptions of all education sessions