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Hampton Roads Offers: The REIN Standard Purchase Agreement

Updated: May 1

The dominant Hampton Roads offer for residential real estate is the Real Estate Information Network Standard Purchase Agreement. That said, offers to purchase real estate vary in Hampton Roads, with the Virginia Association of Realtors offers being not too rare, especially in Williamsburg, James City County, & Gloucester due to other competing MLS.

In this post, I wanted to share the latest version of it, in its simple form, so that buyers and sellers have it available to read through if desired before making an offer or receiving one. I have a lot of additional information on these offers, but it's mostly unpublished at this time, available exclusively to clients. One helpful resource that I have published that's associated with this offer is my competing offer spreadsheet.

These offers change in minor ways over time, & typically get longer over time. Be sure to be viewing the most up-to-date offer before relying on this one. Also, any time when you see writing in blue, it's just part of my typical template, which often is removed entirely or changed based on the situation.

Page 1: Basics (i.e. date, buyer/seller, address, earnest money deposit specific info, purchase price, ratification date)

Page 2: Settlement Expenses (closing costs & prepaids), Earnest Money Deposit Terms, Loan Application Info

Page 3: Loan Application Info Continued, Loan Denial, Occupancy Intent, Representations

Page 4: Representations Continued, Settlement/Closing Terms/Date

Page 5: Settlement/Closing Terms Continued, Deed & Title Representations, Lender's Title Insurance, Survey