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A Seller's Guide:
TLDR: The Virginia Residential Property Disclosure specifies what sellers are required or not required to disclose in Virginia.
TLDR: The Virginia Residential Property Disclosure specifies what sellers are required or not required to disclose in Virginia.
As you may remember from originally buying your property, disclosures are forms that ensure the buyer is aware of what they’re purchasing. The Virginia Residential Property Disclosure Act requires that Virginia buyers be informed of certain material facts about a property before settlement, but relieves sellers of responsibility for other property issues.
These circumstances require seller disclosure:
These circumstances require seller disclosure:
There are other disclosures required by the state of Virginia, but the below circumstances specific to the Virginia Residential Property Disclosures Act require disclosure from seller to buyer:
This is the first sale of the dwelling.
The seller has knowledge of previous mining operations and/or abandoned mines, shafts, or pits wholly or partially on the property.
The property is situated in a locality in which there is a military air installation.
There are pending building code or zoning ordinance violations.
The property has previously been used to manufacture methamphetamine.
The property has a privately owned stormwater management facility.
Since 1978, two or more claims of more than $1,000 have been paid by the National Flood Insurance Program for the structure within any rolling 10-year period.
The property requires septic system operating permits.
Other detriments to the property place the burden of due diligence on the buyer’s shoulders. The Virginia Residential Property Disclosure Act (VRPDA) specifies 17 different areas where further investigation is the buyer’s responsibility, beginning most sections by stating, “The owner(s) make no warranty...”
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