Seller Disclosure Requirements in Virginia

seller disclosure in virginia
Important: The blog article below is informational and should not be deemed as legal advice. Houzeo and its bloggers are not attorneys. For any questions and legal advice, consult a licensed attorney.

In every real estate transaction, a disclosure statement is an essential requirement to complete the sale. Although this can be frustrating—and as well as expensive—you can get ahead of the curve if you know the nitty-gritty of the process. So, when complied properly, you’ll avoid lawsuits and other issues. Most states, like Virginia, also need sellers to notify the buyer of any known property defects. However, you are not necessarily obliged to fully disclose property defects you don’t know or other non-essential issues like paranormal occurrences.

Here are the two disclosure requirements you need to know if you are selling a property in Virginia:

  1. Federal Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards
  2. Seller’s Property Disclosure Form

Did you know Houzeo’s Gold Plan provides relevant Federal and State Seller Disclosures?

3min Video: How to List Your Home on the MLS by Owner

2min Video: How to Request Changes to Your MLS Listing

Residential Lead-Based Paint Hazard Reduction Act

The Residential Lead-Based Paint Hazard Reduction Act passed in 1992 requires the disclosure of any lead-based paint or chipped paint in any housing built before 1978.

In order to protect occupants from harmful effects of lead-paint t—exposure to lead from lead-contaminated dust, soil, or paint—, Virginia properties built before the year 1978 are required to complete the lead-paint disclosure form. Prior to signing contracts or leases, home sellers are obliged to disclose information about whether the lead is present in the home. Under the Virginia law, the homeowner and agent should comply with the residential lead-based paint notification and provide an EPA-approved lead hazard information pamphlet to the buyer.

The home seller is given a 10-day period to perform a paint inspection or risk assessment for lead-based paint or any related hazards. To get a lead hazard inspection certified (EPA administers) firm, you can visit this site here.

Seller’s Property Disclosure Statement

As stated in the Virginia Residential Property Disclosure Act (Title 55, Chapter 27 7of the Code of Virginia), seller’s crucial requirement is to provide the new homeowner with a completed Virginia Real Estate Agency Disclosure Form. Also, you can view here the following excluded residential property transfers from the said provisions or requirements (see § 55.1-702).

Unlike any other state disclosure forms, the Virginia’s disclosure statement only provides notice to the buyer. Essentially, the disclosure form notifies that it’s solely on the buyer’s responsibility to inspect the property to investigate the defects. In the disclosure statement, there’s a notice given (Code of Virginia §55-519) to the homeowner that he/she:

  • makes no representations or warranties as to the condition of the real property or any improvements makes no representations regarding adjacent parcels …
  • makes no representations with respect to any matters that may pertain to parcels adjacent to the subject parcel, including zoning classification or permitted uses of adjacent parcels …
  • makes no representations to any matters that pertain to whether the provisions of any historic district ordinance affect the property …
  • makes no representations with respect to whether the property contains any resource protection areas established in an ordinance implementing the Chesapeake Bay Preservation Act …
  • makes no representations with respect to whether the property is within a dam break inundation zone …
  • makes no representations with respect to the presence of any wastewater system …
  • makes no representations with respect to any right to install or use solar energy collection devices on the property …
  • makes no representations with respect to whether the property is located in one or more special flood hazard areas …
  • makes no representations with respect to whether the property is subject to a community development authority approved by a local governing body pursuant to Article 6 (§ 15.2-5152 et seq.) of Chapter 51 of Title 15.2 …

One or more requirement forms that home sellers may need to comply:

Septic Waiver Disclosure Form

Military Air Installation Disclosure Form

Defective Drywall Disclosure Form

Property Previously Used for Methamphetamine Manufacture Disclosure Form

Building Code Enforcement Action/Zoning Ordinance Violation Disclosure Form

Disclosure Statement for Certain New Dwellings

Note: Read and review the disclosure form carefully before marking yes, no, or no representation. Answer each aspect of the property defect to the best of your knowledge. If in doubt, you can contact your real estate agent or lawyer for a bit of advice or opinion.

seller disclosure in virginia

What if the seller fails to disclose any of this information to the buyer?

Unless you have solid evidence of the seller’s act of misleading via recording or in writing, suing for misrepresentation might be too difficult. If the evidence is clear that the seller is lying intentionally, he/she could face litigation. And this legal procedure against the seller could be expensive and exhausting. Most importantly, this act could void the home-selling transaction.

Note that there are only limited disclosures required in the state of Virginia. That’s the more reason why a court couldn’t find a seller liable for any misrepresentation or failure to disclose certain defects before the sale. Virginia is a “Buyer Beware” state which means it’s fully the buyer’s responsibility to re-examine the property and inspect any defects themselves to verify the information stated.

As a seller, disclose when in doubt. It’s wiser to notify the buyer for any defects you may know. Never trick the buyer for a larger profit. It would only do no good. This could put you in a bad reputation and may result in costing you more and more. Keep it honest and professional.

Did you know Houzeo’s Gold Plan provides relevant Federal and State Seller Disclosures?

4 min video: Learn How to Submit & Review Offers on Houzeo

Related Keywords: seller obligation to disclose, megan’s law disclosure virginia, are seller disclosures required in virginia beach, disclosure laws in virginia, disclosure of stigmatized property in virginiaaa, expert disclosure in virgini, hoa disclosure requirements in virginia, home purchase disclosure laws in virginia, mold disclosure laws in virginia, seller disclosure obligation, real estate seller disclosure law, virginia real estate agency disclosure form

Flat Fee MLS For Sale By Owner Sellers Guide States

Leave a Comment

Your email address will not be published. Required fields are marked *