The NVAR Board of Directors has approved the following Standard Forms changes, as proposed by the NVAR Standard Forms Committee. The changes will be effective July 1, 2026, and are inclusive of changes to the Virginia laws that go into effect on July 1, 2026.
- K1231 – RESIDENTIAL SALES CONTRACT
- Added language to clarify parking space & storage unit information.
- Updated Paragraph 19 (Title) to reflect all parties to the contract will sign and deliver required documents, clarified that only documents necessary to complete settlement and insure title can be required.
- PRACTICE TIP: A “limited common element” is provided by the HOA and not owned by the property owner. Be sure to verify if parking spaces are provided by the association or are owned by the seller.
- K1209 – SALES CONTRACT FOR UNIMPROVED LAND
- Updated Definitions and Additions paragraphs to mirror the updates to the Residential Sales Contract effective Jan 1, 2026.
- K1344 – CONTINGENCIES & CLAUSES ADDENDUM
- Added requirement that a buyer’s home must be listed in “Active Status” in the MLS within negotiated number of days after ratification.
- K1359 – CONVENTIONAL FINANCING CONTINGENCY, K1339 – VA FINANCING CONTINGENCY, K1340 FHA FINANCING CONTINGENCY, K1372 – USDA FINANCING CONTINGENCY
- Added definition of “Interest Rate.”
- PRACTICE TIP: This is not a change to the contingency or purpose of the interest rate. Be sure to verify interest rate availability with lender prior to making offer.
- K1406 – SALE OF PROPERTY SUBJECT TO LEASE ADDENDUM
- Added review period of lease documents.
- Added language for when lease documents are unavailable or do not exist.
- K1360– PRIVATE WELL & SEPTIC ADDENDUM
- Amended paragraph 2.B.1 to address responsibility of removing impediments preventing access to the Septic Inspector and an automatic extension of the contingency if impediments are not removed prior to inspection.
- PRACTICE TIP – The law updated July 1, 2026 to define “readily accessible” as no more than 30 inches from the surface.
- K1308- BUYERS ACKNOWLEDGEMENT OF POTENTIAL ADVERSE CONSEQUENCES
- Added Sale of Home Subject to Lease Addendum and Escalation Addendum for buyer to acknowledge risk of potentially adverse consequences if submitted with offer and ultimately ratified.
- PRACTICE TIP – This document does not get submitted with your offer. It is for internal use and should be filed with your agency documents.
- K1354 – LEASE-VRLTA
- Brought subject property information back to page 1.
- Added parking information.
- Added when the 1st full months rent payment is due to begin.
- Updated Occupants section to clarify the list is “authorized occupants” and added the definition from VRLTA, removed 2 lines in occupant list section.
- Paragraph 12 – Added “well, septic” to paragraph 12 in list of items that are provided, if installed.
- Paragraph 14 – Removed requirement for tenant to maintain exterior gutters.
- Consolidated all provisions related to Early Termination of Occupancy to paragraph 24 .
- Updated the Transfer Pursuant to the Servicemembers Civil Relief Act to reflect General Assembly updates that bring VRLTA in line with the federal guideline. Updates include removing requirement that lease cannot be terminated more than 60 days from date necessary to comply with orders and changes the requirement that proof of orders be provided at Notice to provided before termination date.
- Paragraph 29B updated to reflect new VRLTA requirement that changes cure period for non-payment of rent be 14 days, up from 5 days.
- Removed some unnecessary information required on last page of lease in “For information purposes only” section.
- K1387 – LANDLORD NOTICE REGARDING NONPAYMENT OF RENT
- Updated to reflect new VRLTA requirement that changes cure period for non-payment of rent be 14 days, up from 5 days.
ADMINISTRATIVE CHANGES
- Form K1401 Solar Panel Addendum to Sales Contract – updated “Notice to Void Contract” to “Notice Voiding Contract.”
