Virginia's closing process operates on a settlement agent model that blends attorney oversight with title-company efficiency. An attorney must supervise the settlement and prepare deeds, but title companies run the closing table. This gives Virginia the legal protections of attorney states with the operational speed of title-company states. The VAR Form 600 is the dominant statewide contract, though Northern Virginia adds its own NVAR forms and conventions tied to the DC corridor market.
Key Takeaways
- Virginia uses a settlement agent model: title companies run the closing table under attorney supervision.
- The VAR Form 600 (Residential Contract of Purchase) is the statewide standard contract. A major revision takes effect May 5, 2026.
- Northern Virginia (NoVA) follows DC-corridor conventions with higher attorney involvement and NVAR regional forms.
- Typical closing timeline is 30 to 45 days. Earnest money runs 1% to 3%.
- The Virginia Residential Property Disclosure Statement is state-mandated under Virginia Code section 55.1-702.
What is the settlement agent model in Virginia?
Virginia is classified as a Category B (attorney-for-docs) state in the national closing convention framework. Per Virginia State Bar opinions, an attorney must supervise the settlement process and prepare deeds. However, non-attorneys (title company employees, licensed settlement agents) may conduct the actual closing under attorney supervision.
In practice, this means:
| Function | Who Handles It |
|---|---|
| Deed preparation | Attorney (required) |
| Title search and examination | Title company (attorney may review) |
| Closing table conduct | Settlement agent / title company |
| Document signing | Settlement agent at title company office |
| Fund disbursement | Title company |
| Deed recording | Title company |
| Legal oversight | Attorney (back-office supervision) |
The settlement agent model gives Virginia the efficiency of a title-company closing without the buyer or seller needing to hire or directly interact with an attorney. Transaction coordination firms like Quill work with the settlement agent throughout the file, handling the operational coordination while the attorney handles deed prep in the background. The attorney's role is back-office: preparing the deed, reviewing the title commitment, and ensuring legal compliance. The buyer and seller sit at the title company's closing table with the settlement agent.
For how this model compares to full attorney-mandatory states and pure title-company states, see the attorney state vs title state closing guide.
How does the VAR Form 600 work?
The Virginia Association of REALTORS (Virginia REALTORS) publishes the Form 600, Residential Contract of Purchase, which is the dominant statewide residential purchase agreement.
The current version was revised in June 2024. A major new version was approved by the Virginia REALTORS Forms Committee in February 2026 and takes effect May 5, 2026, with significant changes:
- Condensed to 8 pages (from the previous longer format)
- Improved readability with clearer language throughout
- Clearer party duties delineating buyer vs seller obligations
- Updated contingency language for inspection, appraisal, and financing
- Revised earnest money provisions with enhanced timing and crediting language
Key Form 600 provisions (current June 2024 version):
| Provision | Details |
|---|---|
| Earnest Money | Amount and delivery date specified; held by escrow agent named in contract |
| Home Inspection Contingency | Negotiable window (typically 7-14 days) |
| Financing Contingency | Buyer must apply within specified days; contingency deadline set |
| Appraisal Contingency | Property must appraise at or above contract price |
| Closing Date | Set in contract; typically 30-45 days |
| Property Disclosures | Virginia Residential Property Disclosure Statement required |
| Settlement Agent | Named in contract or selected per contract terms |
| Buyer Broker Compensation | Separately negotiated (post-NAR settlement) |
Northern Virginia forms: In the Northern Virginia market (Arlington, Fairfax, Loudoun, Prince William counties), the Northern Virginia Association of REALTORS (NVAR) publishes regional addenda that supplement or replace certain VAR Form 600 provisions. NVAR forms address DC-corridor-specific conventions including settlement agent selection, regional tax provisions, and HOA/condo-specific terms. Agents working in NoVA need fluency with both VAR and NVAR form sets.
What does the Virginia closing timeline look like?
Virginia's closing process follows the efficient settlement-agent model with a 30 to 45 day timeline. For the full national framework, see the step-by-step closing process.
| Phase | Timeline | Key Actions |
|---|---|---|
| Contract Execution | Day 0 | VAR Form 600 signed; TC receives executed contract |
| Earnest Money Delivery | Days 1-5 | Buyer delivers EMD to designated escrow agent (title company or attorney) |
| Property Disclosure Delivery | Days 1-7 | Seller delivers Virginia Residential Property Disclosure Statement |
| Inspections | Days 5-14 | Home inspection, radon, termite, environmental (per contract contingency) |
| Financing and Appraisal | Days 5-30 | Mortgage application, underwriting, appraisal ordered and completed |
| Title Search and Commitment | Days 7-21 | Title company searches records; attorney reviews; commitment issued |
| Contingency Resolution | Days 14-25 | Inspection repair negotiations; financing conditions cleared |
| Closing Disclosure | Days 28-35 | Lender issues CD; buyer reviews 3 business days before closing |
| Closing Day | Days 30-45 | Settlement agent conducts closing; deed prepared by attorney; documents signed; funds disbursed; deed recorded |
Virginia closings typically hit the 30 to 45 day window consistently because the settlement agent model keeps the process moving without the delays that full attorney coordination can introduce. The binding constraint is usually the lender's processing timeline.
What is the Virginia Residential Property Disclosure?
The Virginia Residential Property Disclosure Statement is a state-mandated seller disclosure governed by Virginia Code section 55.1-702 and overseen by the Department of Professional and Occupational Regulation (DPOR).
Sellers must disclose known material defects in the property's condition. Virginia's disclosure is relatively streamlined compared to states like California (which requires a multi-form disclosure stack) but covers the essential categories:
- Structural and mechanical systems
- Water and sewer
- Environmental conditions
- Flood zone status
- Boundary issues and encroachments
- Known material defects
The disclosure must be provided to the buyer before or at the time of contract. Sellers who fail to deliver the disclosure face potential legal liability for undisclosed defects.
Virginia also requires specific disclosures for properties in the Chesapeake Bay Preservation Area, properties with dam break inundation zones, and properties subject to certain local ordinances. These additional disclosure requirements are regional and depend on the property's specific location.
In the transactions we manage in Virginia, the Chesapeake Bay Preservation Area disclosure is the one that most often catches agents working the Hampton Roads market for the first time. Properties near the coast or tidal waters may trigger additional land-use restrictions that affect the buyer's plans for the property.
How do Northern Virginia conventions differ from the rest of the state?
The Northern Virginia (NoVA) market operates as a satellite of the Washington, DC metro market, and its closing conventions reflect that alignment.
Northern Virginia conventions:
- Higher attorney involvement: Buyers in NoVA more commonly retain their own attorney in addition to the settlement agent, particularly for higher-value transactions in Arlington, McLean, and Great Falls.
- NVAR forms: The Northern Virginia Association of REALTORS publishes supplemental forms that address DC-corridor-specific issues (settlement agent selection, regional tax provisions, condo/co-op terms). NVAR forms are used alongside or in place of certain VAR Form 600 provisions.
- Earnest money: Buyer's attorney or title company escrow. In NoVA, attorney escrow is more common than in the rest of the state.
- Regional congestion relief fee: Northern Virginia adds a regional fee on top of the statewide grantor's tax for properties in designated congestion-relief areas. Per the Virginia Department of Taxation, the statewide grantor's tax is $1 per $1,000 of sale price; certain NoVA jurisdictions add $0.15 per $100 for transportation funding.
- Higher transaction values: Median home prices in NoVA exceed $600,000, roughly double the statewide median, which affects closing cost calculations and earnest money amounts.
Rest of Virginia conventions:
- Title-company-driven closings with lighter attorney involvement
- VAR Form 600 used without NVAR supplements
- Title company holds earnest money (more common than attorney escrow)
- Lower transaction values and correspondingly lower closing costs
In the files we coordinate across Virginia, the NoVA-to-rest-of-state transition is the biggest adaptation. An agent moving from a Fairfax County transaction to a Richmond transaction encounters different form sets, different attorney expectations, and different closing-cost structures. The VAR Form 600 provides continuity, but the regional overlay in NoVA adds complexity.
How does earnest money work in Virginia?
Earnest money in Virginia typically ranges from 1% to 3% of the purchase price, delivered upon acceptance per the contract terms.
Key details:
- Holder: Escrow agent named in the contract (title company, buyer's attorney, or broker trust account)
- Delivery: Upon acceptance or within a few days per contract terms
- NoVA convention: Buyer's attorney escrow more common
- Rest of Virginia: Title company escrow more common
- Credit at closing: Earnest money credited toward purchase price
- Default: Forfeitable per contract terms if buyer defaults outside contingency protections
What are Virginia closing costs?
Virginia closing costs typically run 2% to 4% of the purchase price for buyers.
Buyer closing costs include:
- Title insurance premium
- Title search and examination fee
- Settlement agent fee
- Recording fees
- Lender origination and underwriting fees
- Prepaid interest, taxes, and insurance escrow
- Home inspection fee ($350 to $550)
- Appraisal fee ($400 to $600)
Seller closing costs include:
- Grantor's tax ($1 per $1,000 of sale price statewide; additional regional fees in NoVA)
- Commission (negotiated)
- Outstanding mortgage payoff
- Any credits negotiated during inspection
The Virginia Department of Taxation publishes current grantor's tax rates. On a $500,000 home in Virginia (outside NoVA), the grantor's tax is $500. In Northern Virginia jurisdictions with the congestion relief fee, the total transfer tax is higher.
How does a transaction coordinator work in a Virginia closing?
Virginia's settlement agent model creates a TC workflow similar to a pure title-company state, with the added step of coordinating attorney-prepared documents.
TC scope in Virginia closings:
- Receive the executed VAR Form 600 (and NVAR supplements if NoVA) and build the deadline calendar
- Confirm earnest money delivery to the designated escrow agent
- Track Virginia Residential Property Disclosure delivery and buyer acknowledgment
- Schedule and track inspections within the contingency window
- Process repair amendments on the correct form (VAR or NVAR)
- Monitor lender progress and financing contingency deadline (weekly check-ins)
- Review preliminary title commitment for exceptions requiring cure
- Coordinate with the settlement agent on closing logistics
- Verify closing disclosure accuracy against contract terms
- Assemble the compliance file for the broker
The TC works directly with the title company/settlement agent for closing logistics, while the attorney handles deed preparation and legal oversight in the background. In most Virginia closings, the TC's primary day-to-day counterpart is the settlement agent, not the attorney.
For a detailed breakdown of the TC role, see what does a transaction coordinator do. For how Virginia's settlement agent model fits into the national closing convention framework, see the attorney state vs title state closing guide. For the national step-by-step framework, see the real estate closing process.
For Virginia-specific transaction coordination, visit the Virginia state hub.
How does Quill coordinate Virginia files?
Quill is a transaction coordination firm that manages your Virginia files from executed VAR Form 600 through recording. We work directly with the settlement agent and title company on every milestone: earnest money confirmation, Virginia Residential Property Disclosure tracking, inspection contingency deadlines, lender coordination, closing disclosure review, and broker compliance file assembly. The attorney handles deed preparation in the background; we handle the operational coordination that keeps the file on schedule.
Virginia's settlement agent model runs efficiently, but the NoVA-to-rest-of-state split creates a form and convention gap that catches agents working across regions. We handle both VAR and NVAR form sets, track the regional tax variations, and adapt to each market's settlement agent workflow. For agents working Fairfax, Arlington, Loudoun, Richmond, Virginia Beach, or anywhere in the state, we calibrate to the local conventions that affect your closing timeline.
$350 per file, billed at close. Your first file is free. One flat fee covers the full contract-to-recording pipeline, whether it's a NoVA townhouse or a Shenandoah Valley single-family home.
For Virginia-specific coordination, visit the Virginia state hub.