Q. Form updates are usually released in January and July. Why did NVAR release updates in December?

As of Jan. 1, 2019, there will no longer be a substantive difference between the common law landlord/tenant provisions and the Virginia Residential Landlord Tenant Act (VRLTA).

With respect to listing the property, there are two separate issues. First, is there a security system in the property that records both audio and video?

It is designed to give the Purchaser and Seller one clear time horizon in which to resolve all home inspection issues, come up with a resolution, and draft an addendum amending the contract.

If the parties are unable to reach an agreement by the end of the Negotiation Period, the Purchaser has an additional period of time to simply void the contract or choose to take the property in its current condition

Under the old Home Inspection Contingency, a Seller who wanted to void the contract would simply fail to respond to a counter-offer and the contract would automatically become void.

To avoid replicating this troubling scenario, we recommend a Negotiation Period of no less than seven days.

The fee for the packet or certificate now hinges on whether the association is professionally managed by a common interest community manager (CIC managed association).

A CIC manager is defined as a person or business entity that provides management services to an association for a fee or other compensation.

The Code states that each association may charge the full fees allowed under the law.

The law states that the association or manager may only charge $50 for expedited delivery if the inspection and the delivery of the packet or certificate are completed within five business days of the request.

For non-CIC managed associations, payment deferral options are less clear. The Code is silent about when payment is due for the initial packet or certificate request.

For CIC managed HOAs, the first two hard copies are included in the initial fee. The association may only charge $25 for each additional hard copy requested.

If the update is requested by a buyer or a settlement agent, the seller or his agent shall receive a copy of it at no additional cost.

The seller or his authorized agent may request that the packet or certificate be provided in either hard copy or electronic form.

A purchaser can accept the packet or certificate as is, or may cancel the contract.

There is no requirement that you pay the initial fees unless the request comes after the 12-month period has expired.

You can accept the packet or certificate as is, or you may cancel the contract

You may accept the packet or certificate as is, or you may cancel the contract. If you agree to accept it as is, the purchaser may be liable for any non-compliance with the association rules.

The CIC Board was established to regulate management companies and their supervisory and managerial employees.