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Virginia Real Estate Documents

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Commonly Asked Questions about Virginia Real Estate Documents

The owner of the residential real property shall furnish to a purchaser a residential property disclosure statement for the buyer to beware of certain matters that may affect the buyers decision to purchase such real property. Such statement shall be provided by the Real Estate Board on its website.
Virginia Death Disclosure The State of Virginia does not require disclosure of death on a property. The state does not require disclosure of any deaths, including murders or suicide.
What does a Real Estate Affidavit do in Virginia? Pursuant to 64.2-510 When a person dies intestate (without a will), the real estate affidavit may be utilized to transfer real estate to a decedents heirs at law as codified in VA Code 64.2-200.
The Virginia Residential Property Disclosure Act ( 55.1-700 et seq. of the Code of Virginia) governs the information owners must disclose to prospective purchasers of residential real property.
Unlike some states, Virginia does not require that buyers involve a lawyer in the house-buying transaction.
Its worth noting that Virginia is a Buyer-Beware state. This principle underscores the significance of due diligence and exhaustive research before purchasing a property.
Unlike many other states, Virginia is a caveat emptor (buyer beware) jurisdiction. Sellers of real estate in Virginia are not necessarily required to fully disclose all property defects when you buy the property, especially when the sale is AS IS.
Although federal law requires some basic disclosures across the U.S., Virginia law does not require sellers to disclose much information about their property at all, as described below.

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