The Importance of a Well-Written Purchase Agreement
Updated: 2 days ago
The purchase contract decides what happens if the inspection finds a problem, the appraisal comes in low or your orders change. As a military spouse for more than 30 years and an Arlington Associate Broker with 560+ transactions, I've seen a well-written contract save families thousands of dollars, and a vague one cost them.
This article is general information, not tax, legal or financial advice. For legal advice, talk with a Virginia real estate attorney.
What's in a Virginia purchase contract
In Northern Virginia, agents usually prepare offers on standard regional forms, with addenda for financing, inspections and other terms. The main parts are:
Price and financing: the price, loan type, down payment and any seller-paid closing costs
Earnest money deposit: how much, who holds it and when it can be returned
Contingencies: the conditions that let you cancel without losing your deposit
Settlement date and possession: when you close and when you get the keys
Disclosures and addenda: HOA or condo documents, lead paint for pre-1978 homes and anything else that applies
Contingencies that protect you
Financing: lets you cancel if your loan isn't approved by a deadline.
Appraisal: with a VA loan, VA's escape clause is required in every contract. If the home appraises below the price, you can walk away with your deposit or choose to pay the difference. My VA appraisal guide explains the process.
Home inspection: gives you a set number of days to inspect and then negotiate repairs or cancel.
Wood-destroying insects: VA requires termite information for every VA purchase in Virginia.
HOA or condo documents: in Virginia, buyers get a review period after receiving the association's resale packet.
Sale of your current home: possible, but it makes your offer weaker in a competitive market.
What about my orders?
There's no standard "PCS clause" in a Virginia purchase contract. If your orders aren't final or could change, talk with me before you write an offer. We can plan the timeline, the deadlines on your contingencies and the settlement date around what you know.
Virginia is largely "buyer beware"
This surprises many families moving from other states. Under the Virginia Residential Property Disclosure Act, sellers give buyers a state disclosure statement that says, for most subjects, the owner makes no representations. That covers the home's condition, lot lines, zoning, flood risk and more. The statement tells buyers to do their own homework.
Sellers can't hide or lie about known defects, but the burden is mostly on you to find problems. That's why I recommend:
A professional home inspection, plus specialty inspections if the inspector suggests them
A survey if lot lines, fences or additions matter to you
Checking flood zone, zoning and any historic district rules with the locality
Title problems
Liens, boundary disputes and recording errors can surface during the title search. The title company or settlement attorney handles the search, and owner's title insurance protects you from many covered problems that are found later.
Avoiding disputes
Most contract disputes come from vague wording or missed deadlines. Put every agreement in writing, including repairs, items that stay with the house and credits. Track every contract deadline. If something can't be done on time, get a written extension before the deadline passes.
In Northern Virginia
Contracts in Arlington, Alexandria and Fairfax move quickly, and the details decide how protected you are. I'll walk you through every line before you sign. My Northern Virginia PCS guide covers the rest of the buying timeline.
Sources: Virginia DPOR, residential property disclosures; VA Lender's Handbook, chapter 9; VA local requirements.
Last reviewed: October 2026
Comments