The Virginia Home-Selling Process: Your Step-by-Step Checklist

When offers come in, your agent will present each one to you. Look beyond the purchase price: check the earnest money amount, financing contingency, inspection contingency, closing date, and whether the buyer is requesting any seller concessions. A lower offer with fewer contingencies may be stronger than a higher offer loaded with conditions. Ask your agent to explain any term you do not understand before you respond.

Cost: $0

After the August 2024 NAR settlement, Virginia sellers are not required to pay the buyer's agent. However, many buyers now ask for a seller concession in the purchase contract to cover their agent's fee. You can choose to offer this as a concession, negotiate it into the purchase price, or decline. Your listing agent must disclose to you in writing how any compensation flows under Va. Code §54.1-2132. Discuss the pros and cons with your agent before deciding—being flexible on this point can attract more buyers in competitive markets.

Cost: varies

If you like an offer but want different terms, your agent will write a counteroffer that changes specific items—price, closing date, contingencies, or concessions. The buyer can accept, counter again, or walk away. If you accept the offer as written, both parties sign and the contract is ratified. Ratification is the official starting point for all contract deadlines. Keep notes on all offers you receive in case your top choice falls through.

Cost: $0

Once the contract is ratified, the buyer must deliver their earnest money deposit—typically one to three percent of the purchase price. Under Virginia rules, a licensee who receives earnest money must deposit it in the broker's trust account within five business days of ratification unless the contract says otherwise. Confirm with your agent that the deposit arrived on time. A buyer who fails to deliver earnest money on schedule may be in default.

Cost: $0

If you have not already delivered your Virginia Residential Property Disclosure Statement, do so now. If your property is in a property owners' association, deliver the POA disclosure packet. If it is a condominium, deliver the condo resale certificate required under the Virginia Condominium Act. Buyers who do not receive required disclosures have the right to rescind the contract, so confirm with your agent that delivery is complete and documented.

Cost: $0

If your home was built before 1978, federal law requires you to give the buyer an EPA-approved lead-based paint disclosure form and any reports you have about lead paint on the property. The buyer then has ten days to conduct a lead-paint inspection before the contract can be finalized. This is a federal requirement that applies on top of Virginia's disclosure rules. Your agent will have the correct form.

Cost: $0

During the contract period, the buyer will schedule a home inspection and possibly additional specialist inspections. Make sure your home is easy to enter—confirm lockbox codes work, pets are secured or removed during inspections, and utilities are on. Sellers who make it difficult for inspectors to access the property can create grounds for contract disputes. Try to be flexible with scheduling.

Cost: $0

Virginia law requires that all residential closings be handled by a licensed settlement agent under the Consumer Real Estate Settlement Protection Act (CRESPA). This means you cannot use just any attorney or title company—they must hold a CRESPA license. In many Virginia transactions, the buyer selects the settlement agent, but you have the right to choose your own attorney to review documents. Confirm early that whichever settlement agent is handling the closing is properly licensed.

Cost: $0

The buyer's inspector will spend two to four hours examining the home's structure, roof, electrical system, plumbing, HVAC, and more. You do not need to be there, but leave the home accessible and clear. Do not move items that would block access to the attic, crawlspace, electrical panel, or water heater. The inspector will produce a written report that the buyer uses to decide whether to proceed, request repairs, or negotiate a credit.

Cost: $0

After the inspection, the buyer may submit a written request asking you to repair specific items, reduce the price, or offer a closing credit. Read the request carefully with your agent. You are not legally required to agree to any repair—you can accept, counter with a smaller credit, or decline and let the buyer decide whether to proceed. Focus on health-and-safety items and structural issues first; cosmetic items carry less weight. Your response must stay within the timeframe set in the contract.

Cost: varies

If your property has a private well or an onsite sewage system (septic), Virginia law requires specific disclosures about the system's permit status, design capacity, and any known failures. The buyer may also order a separate well water test or septic inspection. Make sure you can provide any records you have—permits, prior inspection reports, pump-out receipts. Having this paperwork ready speeds the process and shows good faith.

Cost: $0

Once you and the buyer agree on what repairs or credits will be made, put it in writing with a signed addendum. If you agreed to complete repairs, use licensed contractors and keep receipts—the buyer may ask for proof of completion before closing. If you agreed to a credit, the settlement agent will apply it at the closing table. Verbal agreements about repairs are not enforceable; everything must be in writing.

Cost: varies

The buyer's lender will send a licensed appraiser to estimate the market value of your home. Make sure the home is clean, all systems are functioning, and any agreed-upon repairs are complete before the appraiser visits. Gather any documents that show value—recent improvements, permits for additions, energy-efficient upgrades. You can also prepare a list of comparable sales you think support your price and give it to your agent to share with the appraiser.

Cost: $0

If the appraised value is lower than what the buyer agreed to pay, the lender may not fully finance the gap. You have several options: reduce the price to the appraised value, split the difference with the buyer, or dispute the appraisal by submitting a formal rebuttal with supporting comparable sales data. If the buyer has an appraisal contingency and you cannot agree, they may be able to exit the contract. Work with your agent quickly—appraisal rebuttal windows are short.

Cost: $0

Ask your agent to check in regularly with the buyer's agent on loan status. Most contracts include a financing contingency with a deadline by which the buyer must have loan approval. If the buyer is struggling to get approved, you want to know early so you can decide whether to extend the deadline or begin making backup plans. Do not assume that because an offer was accepted, the financing will go through automatically.

Cost: $0

If you agreed to fix anything during inspection negotiations, those repairs must be done before the buyer's final walk-through—typically one to two days before closing. Use licensed contractors for any work that requires a permit. Keep all receipts and take photos when work is complete. The buyer may request documentation before closing, and incomplete repairs can delay or derail the transaction at the last minute.

Cost: varies

The settlement agent will send you a closing disclosure showing all the money coming in and going out at closing. Review it carefully: check the sales price, any seller concessions, your mortgage payoff amount, grantor's tax, agent commissions, and any prorated property taxes. In Virginia, sellers owe a grantor's tax of $0.50 per $100 of the sales price (and in some localities more). If any number looks wrong, contact the settlement agent before closing day.

Cost: $0

Contact your lender to get an official payoff statement good through your expected closing date. The payoff amount will be slightly higher than your current balance because it includes interest through the payoff date and may include a prepayment penalty if your loan has one. Give the payoff statement to the settlement agent well before closing so they can wire the correct amount. An outdated payoff figure can cause closing-day delays.

Cost: $0

Check the contract to confirm exactly when possession transfers to the buyer—usually at closing but sometimes a day or two after. Book your moving company early because last-minute bookings cost more and good movers fill up fast. Cancel or transfer utilities on the day after possession transfers. Leave all keys, garage door openers, appliance manuals, and warranty documents at the home for the buyer.

Cost: $500-3,000 typical for movers

If you are not a U.S. citizen or permanent resident, the buyer's closing agent is required to withhold a percentage of the gross sale price under FIRPTA (the Foreign Investment in Real Property Tax Act) and send it to the IRS. The withholding rate is 15% for transactions over $1,000,000 and 10% for transactions between $300,001 and $1,000,000. You may be able to apply for a withholding certificate from the IRS to reduce the amount withheld. Consult a tax professional well before closing if this applies to you.

Cost: varies

The buyer has the right to do a final walk-through of the home, typically in the 24 to 48 hours before closing. This is their chance to confirm the home is in the agreed condition and that completed repairs were done. Be sure the home is empty and clean, all agreed repairs are finished, and all your belongings are out. If the buyer finds a problem during the walk-through, it can delay closing, so try to be done moving well before this point.

Cost: $0

At the closing table, you will sign a deed transferring ownership to the buyer, along with several other documents prepared by the Virginia-licensed settlement agent. Bring a government-issued photo ID. Read each document before signing. The settlement agent—who must hold a CRESPA license under Virginia law—will explain what each document is for. Once both parties have signed and funds are confirmed, the settlement agent will record the deed with the local circuit court.

Cost: $0

As the seller in Virginia, you owe a grantor's tax at closing. The state rate is $0.50 per $100 of the sales price under Va. Code §58.1-802. Some localities add their own grantor's tax on top of the state amount, so the total can be higher depending on where your property is located. This amount is deducted from your sale proceeds by the settlement agent—you will see it itemized on your closing disclosure. It is not a fee you pay separately on closing day.

Cost: 0.50% of sales price typical (varies by locality)

After all documents are signed and the buyer's funds are received, the settlement agent will wire or issue a check for your net proceeds—the sale price minus your mortgage payoff, agent commissions, grantor's tax, and any other fees. Wires typically arrive within a few hours to one business day. Confirm your wire instructions with the settlement agent in advance and be alert to wire fraud scams—always verify wire instructions by phone using a number you look up independently, not one from an email.

Cost: $0

At the time specified in your contract—usually at closing—hand over all keys, fobs, garage door openers, mailbox keys, and any access codes to the buyer or their agent. Leave all appliance manuals, warranty booklets, and HOA documents in the home. Once possession transfers, you are no longer responsible for the property. Make sure your homeowner's insurance remains active until possession officially transfers so you are covered for any last-minute incidents.

Cost: $0