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Nov 18, 2024
The NVAR Legal Hotline has received many questions regarding voiding and releasing sales contracts this fall. Refresh your skills with this guide!
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Sep 27, 2024
Not sure how to calculate competing offers using an escalation addendum? What if a buyer is asking for concessions or compensation? Read on for a refresher!
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Aug 8, 2024
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Jun 26, 2024
NVAR has recently translated summaries of four of our forms into the five languages most spoken in our area: Spanish, Korean, Vietnamese, Chinese (PRC), and Chinese (Taiwan).
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Jun 24, 2024
When do I amend my brokerage agreements? What happens if the compensation advertised is different from the sales contract? Read on for some FAQs on how to use the July 1, 2024 NVAR Standard Forms!
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Apr 23, 2024
As of April 23, 2024, the NAR settlement agreement is preliminarily approved. The settlement is still subject to final court approval, and plaintiffs have requested a hearing on final approval of the settlement to be held on November 26, 2024. Please see the FAQs below for more information and contact Mike Rohde at mrohde@nar.realtor with any questions about completing an opt-in agreement.
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Mar 22, 2024
Realtors® should expect to see practice changes go into effect by August 17, 2024 and will be required to abide by them. However, the settlement agreement is still subject to final court approval, so it is possible the deadlines and practices outlined may be modified in coming months. Visit nvar.com/competition and facts.realtor for updates.
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Feb 15, 2024
What can I do to prevent or avoid fraud in my transactions?
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Feb 15, 2024
A new ruling by the DOJ has resolved a discrepancy between the Servicemembers Civil Relief Act (SCRA) and the Virginia Residential Landlord and Tenant Act (VRLTA).
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Feb 15, 2024
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Feb 12, 2024
Since agents are typically not parties to the sales contract, what is the Realtor®’s role in encouraging the Buyer to timely deposit the EMD? What about the Realtor® representing the Seller? The fact is, Realtors® may have more responsibility than you’d think!
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Aug 4, 2023
Beginning on August 9, 2023, Bright MLS will update its Listing Entry system to allow for its users to enter any amount into the compensation field, including $0. For REALTORS® concerned that this change will cause a ripple effect in the market, remember that until this update, Bright MLS allowed for offers of compensation as low as 1 cent.
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Jun 22, 2023
On July 1, 2023, the new Virginia Resale Disclosure Act, Virginia Code §55.1-2307, et seq. (“RDA”) went into effect, combining the resale package provisions of the Virginia Property Owners’ Association Act (“POAA”) and the Virginia Condominium Act (“Condo Act”).
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May 13, 2021
In November 2020, the Board of Directors of the National Association of Realtors® (“NAR”) adopted an update to Article 10 of the Realtor® Code of Ethics (“Code of Ethics”). This update provided a new Standard of Practice (SOP 10-5) that went into effect immediately and states:
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Jan 29, 2021
Many brokers are asking: “Can my firm advertise resales, vacant land and new construction properties that are for-sale-by-owner (“FSBO”) on our website without listing it in the MLS?”
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Nov 5, 2020
IN A COMPETITIVE MARKET, effective advertising can make all the difference.
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Sep 8, 2020
THE VIRGINIA FAIR HOUSING LAW (Virginia Code Ann. §§ 36-96.1 et seq. (the “Act”)) recites the policy of the Commonwealth to “provide for fair housing … to all its citizens … and … prohibit discriminatory practices with respect to residential housing…”
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Jul 8, 2020
Q. What does the Virginia Residential Landlord and Tenant Act (“VRLTA”) require of nonresident property owners who wish to lease their Virginia residential properties?
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Jun 8, 2020
The 2020 Virginia General Assembly session yielded several important revisions to the Virginia Residential Property Disclosure Act
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Jun 8, 2020
Q: After taking a listing, the REALTOR® was informed by the neighbors that one of the residents in the area is listed on the Virginia State Police Sex Offender Web site. She wants to know if she must disclose this information to potential purchasers.