In 1964, Buford received the award as the Outstanding Young Man of the Year from the Richmond Junior Chamber of Commerce. In 1976, 1980 and 1989, he received the Outstanding Service Award from the Virginia Council on Economic Education. In 1981, he received the Brotherhood Award from the National Conference of Christians and Jews. In 1982, he received an honorary degree of Doctor of Law from St. Paul's College. In 1986, he received the George P. Baker Medal from the Joint Council on Economic Education. In January 2001, he was recognized on the floor of the House of Delegates of the Virginia General Assembly for his service to the Commonwealth in connection with children and education. In 2011, he received an honorary degree from Virginia Theological Seminary. In May 2013, he received the Liberty Bell Award from The Bar Association of the City of Richmond.
Buford is currently a Trustee and Chairman Emeritus of Elk Hill Farm, Inc. (Boy's and Girl's Farm). He is also a Director and former Chairman of Virginia Council on Economic Education. In addition, Buford is Director of Virginia High Speed Rail Association, Council on Economic Education, and Trustee of the VCU Business School Foundation. He is also a past Chairman of Virginia Mentoring Partnership, Trustee of Sheltering Arms Foundation and Past Chairman of Virginia Capitol Foundation.
Buford, born in Richmond, is married to Susan Elder Bailey, they have three children and nine grandchildren. He graduated from St. Mark's School, attended Yale University for two years and graduated from the University of Virginia. Before joining BB&T Scott & Stringfellow, Buford served for two years in the U.S. Army Counter Intelligence Corp.
Buford has always been active in the Richmond community having served as the chairman of the Richmond Chamber of Commerce, Richmond Area United Givers Fund and campaign of the United Way. He served for 11 years as a member of the Board of Visitors of Virginia Commonwealth University and for seven years as a member of the Board of Visitors of the University of Virginia. He served as chairman of the Virginia Commission of Children and Youth, as chairman of Elk Hill Farm, Inc. and as a director of Hollywood Cemetery, Police Benevolent Association, the Virginia Mentoring Program, Sheltering Arms Hospital, the Virginia Council on Economic Education and the Virginians for High Speed Rail.