The Four Main Virginia Contracts and Their Differences

Universal Title’s course on Contract Differences will cover basic contract law and compare the differences of the four main contracts used in Virginia. These Contracts include: The Northern Virginia Association of Realtors Residential Contract (NVAR), the Virginia Association of Realtors Residential Contract (VAR), Real Estate Information Network (REIN), and the CVR (Central Virginia Regional).

The class discusses the differences between these contracts in regard to the Earnest Money Deposit, the Settlement Date and Timing, Possession, the Financing Contingency, Home Inspection Contingency, and Appraisal Contingency. It also goes over the differences between the contracts when there is a title defect as well as some local customs particular to certain regions in Virginia.

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