Why YOU Need the Virginia REALTORS® Forms Library
October 1, 2020
Did you know that you can access the most current version of the Virginia REALTORS® forms library not only on our website as fillable PDFs, but also through the following transaction management systems:
- Instanet/Transaction Desk
As a member of Virginia REALTORS®, you have access to over 90 forms to help you with your transaction. This includes a Standard Clause Booklet that has additional provisions that you may need in some, but not all, of your transactions.
The Standard Forms Subcommittee and the Risk Management Committee review all of the Virginia REALTORS® forms on a regular basis. Each form is reviewed at least once every 5 years to ensure that the form is still current and useful in today’s environment. In general, updates to the forms come out on January 1 and July 1 each year, but if there is significant case law, regulatory updates, or other urgent issues impacting members, forms may be updated off this cycle.
It’s important to use the most current version of a form because out of date forms may contain provisions that are unenforceable or could change the validity of the contract. Additionally, some E&O insurance policies require that you are using the most current version of a form for a transaction to be covered.
If you use a transaction management system, you want to make sure that you are accessing the Virginia REALTORS® library, and not a library where you have manually uploaded versions of our forms, to make sure that you have the most current versions.
If there are changes that you would like to see made to the Virginia REALTORS® library, or if you have a transaction management system you would like to see the Virginia REALTORS® library in, send us that suggestion at email@example.com. All member suggestions are reviewed by the Standard Forms Subcommittee, even if the change is not ultimately made.
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