Transaction Coordination

Virginia Real Estate Contract Deadlines (2026 Contract)

The deadlines in the new Virginia REALTORS Residential Purchase Contract released in May 2026, plus the statutory windows to cancel after an HOA or condo resale certificate or a late Residential Property Disclosure Act statement, with a worked example.

Ijharul Islam October 21, 2026 8 min read

Virginia real estate contract deadlines, in short: in the new Virginia REALTORS Residential Purchase Contract, released May 4, 2026, time is of the essence for every deadline, and the buyer applies for financing within five business days of ratification. Statute adds a three-day default window to cancel after an HOA resale certificate or a late disclosure arrives.

More on this topic: Contract deadlines by state, every guide in one place.

The new contract is member-only, so paragraph numbers here come from Virginia REALTORS' own comparison chart and FAQs. Northern Virginia deals often use the NVAR contract instead, which isn't covered here. This is general information, not legal advice; the executed contract controls. Other states: see the deadlines in a purchase contract or the New Jersey attorney review period.

Key takeaways

Virginia REALTORS rewrote its Residential Purchase Contract: eight pages, released May 4, 2026, with language fixes from July 1, 2026. The old version was valid until July 1, 2026.
“Time is of the essence” now applies to all deadlines: miss the Settlement Date and the contract becomes voidable.
The buyer must make written loan application within five business days of ratification; the commitment is due by the date chosen, or by settlement if blank (3.A.(iv)).
Resale certificate: unless the contract sets another period, the buyer has three days to cancel, and can cancel any time before settlement if it never arrives (§ 55.1-2312).
A Residential Property Disclosure Act statement delivered after ratification gives the buyer three days to terminate if delivered in person or electronically, five after the postmark if mailed (§ 55.1-709).

What changed in the 2026 Virginia REALTORS contract?

Almost everything moved. The Standard Forms Committee rewrote the contract for readability, and Virginia REALTORS released it on May 4, 2026, with all inspections in Paragraph 4, all disclosures in Paragraph 5, and new addenda for appraisal (Form 601), common interest communities (Form 602) and seller financing (Form 603). Its FAQs say the old contract stayed legally valid until July 1, 2026, and a deal already under way on it can finish on it.

Two clarifications went live on July 1, 2026: the walkthrough paragraph (4.E) lost its built-in list of buyer remedies, and the seller's settlement affidavit (7.B) now confirms that labor and materials that could lead to a mechanic's lien have been paid. If you have files on both versions, note which version each one uses.

What are the financing and appraisal deadlines?

Deadline	Paragraph	What Virginia REALTORS says
Written loan application	3.A.(iv)	Within five business days of ratification
Loan commitment	3.A.(iv)	By the date the parties choose; if blank, by the Settlement Date
Verification of funds	3.A.(v)	If the seller asks, within 7 days of ratification; if it isn't provided, the seller has 5 days from the due date to terminate
Financing contingency	3	Only if the box is checked
Appraisal contingency	3.H	Only if chosen, and the Appraisal Addendum (601) must be attached
Title cure	6	Settlement can extend up to 10 days to cure title; time is of the essence applies to the new date

How does the home inspection contingency work in Virginia?

Only by checking the box in 4.A and attaching the home inspection addendum; septic inspections (4.B) work the same way. Virginia REALTORS' Legal Hotline describes the addendum's sequence, using the earlier VAR Form 600D: a Home Inspection Deadline to inspect and decide, then a Negotiation Period if the buyer delivers a removal addendum with repair requests in time, then an election period if no agreement is reached. Extending the Home Inspection Deadline by amendment also extends the later periods.

The number of days is a blank, so take it from the executed addendum. Well (4.C) and wood-destroying insect (4.D) results give the buyer the option to terminate, waive or negotiate if the seller won't remedy. The walkthrough (4.E) happens no more than the days written before settlement, or on the Settlement Date if blank. See the repair request process.

When can a buyer cancel after an HOA or condo resale certificate?

Under the Resale Disclosure Act, within the period the parties agree in the ratified contract. If none is set, the buyer has three days from ratification when the certificate arrived first, or three days from receipt when it arrives after ratification (§ 55.1-2312). A notice that the certificate is unavailable counts as delivery. If neither ever arrives, the buyer may cancel at any time before settlement.

Cancellation is by written notice under the contract's notice terms, the buyer must be able to prove delivery, and the deposit must be returned promptly. With more than one association, the clock runs from the last certificate. The association must deliver within 14 days of the seller's written request, or the certificate is deemed unavailable (§ 55.1-2309). Older articles cite §§ 55.1-1808 and 55.1-1990; both are repealed.

What is the Residential Property Disclosure Act deadline?

The seller must deliver the required disclosures before ratification. If they arrive after it, the buyer's sole remedy is to terminate by the earliest of: three days after delivery in person or electronically, five days after the postmark if mailed, settlement, occupancy, a loan application that discloses the right ends on application, or a separate signed waiver (§ 55.1-709). The deposit then comes back without penalty. A revised version of the disclosure section, § 55.1-703, takes effect January 1, 2027.

How are days counted in a Virginia contract?

Check the contract's own definitions; we couldn't read the new form's wording. For periods set by statute, the Code excludes the day of the triggering event (§ 1-210(A)), so counting starts the next day.

Example (ratification Monday, November 16, 2026)	Deadline
Written loan application, five business days	Monday, November 23
Verification of funds, if the seller asked	Monday, November 23; the seller's 5-day termination window then runs to Saturday, November 28
Resale certificate delivered Friday, November 20, contract silent	Cancel by Monday, November 23
Disclosure statement emailed Tuesday, November 17	Terminate by Friday, November 20, or earlier if another trigger comes first
Settlement Date	Friday, December 18; time is of the essence

The dates are illustrative; the executed contract controls.

What happens if you miss a Virginia deadline?

Because time is of the essence, the dates are firm. The FAQs give the example that if the parties haven't performed by the Settlement Date, the contract becomes “immediately voidable”. The fix is a written amendment, agreed and ratified by all parties, before the date passes; time is of the essence then applies to the new date. The statutory rights to cancel over a resale certificate or a disclosure end at settlement. See also what happens when a contingency deadline is missed.

Which Virginia forms go with these deadlines?

Form	Use it for
Residential Purchase Contract (May 2026)	Financing, inspections, title, settlement
Appraisal Addendum (601)	An appraisal contingency under 3.H
CIC Addendum (602)	Property in a common interest community (5.C)
Seller Financing Addendum (603)	Seller financing under 3.A.(iii)
Home inspection addendum	The inspection contingency under 4.A

How do you track Virginia contract deadlines without missing one?

Closingbird reads the executed contract and fills in the dates it finds, which you check and edit, then reminds each deadline owner every morning. The loan application is “5 business days after acceptance”; Closingbird's business days skip weekends and US federal holidays only, so if the contract's definition differs, set a fixed date. The resale certificate and disclosure windows run from delivery, not ratification, so add them as fixed dates when the documents arrive, and record how each was delivered. See deadline tracking and business days vs calendar days.

Frequently asked questions

How many days do you have to cancel after receiving an HOA resale certificate in Virginia?

The period in the contract, or three days if the contract is silent. If the certificate never arrives, the buyer may cancel any time before settlement (§ 55.1-2312).

Is time of the essence in the Virginia REALTORS contract?

Yes. In the 2026 contract it applies to all deadlines, including a Settlement Date extended for title or by amendment.

When must a Virginia buyer apply for a mortgage?

Under the 2026 Virginia REALTORS contract, within five business days of ratification. The commitment itself is due by the date chosen, or by settlement.

Can you still use the old Virginia REALTORS purchase contract?

Virginia REALTORS said it was legally valid until July 1, 2026, and transactions already under way on it can be completed on it.

What if the seller doesn't give the disclosure statement before ratification?

The buyer may terminate within three days of in-person or electronic delivery, or five days after the postmark, unless settlement, occupancy or another trigger comes first (§ 55.1-709).

Run it in Closingbird

Upload a Virginia contract, check the dates Closingbird fills in, add the resale certificate window when the packet arrives, and give every deadline an owner. Start a free trial (14-day free trial, no credit card required) or see pricing.

Sources

Checked in October 2026. Rules and prices change, and many vary by state, so confirm with the source, your state's real estate commission or your broker before you rely on them.

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