You know your Virginia home better than anyone, which means you’re familiar with every nook and cranny. If you’re planning to sell your home, you may be wondering how much you need to reveal on the Virginia seller disclosure form, officially known as the Residential Property Disclosure Statement. Disclosure forms like this provide potential buyers with a clearer picture of a property’s condition and history, enabling them to make a more informed decision. However, they can also protect you if there is an issue with the property’s condition. In this post, we’ll tell you what to expect, how much detail to provide, and what could go wrong if you leave something out. We’ll also offer a downloadable Disclosure Litmus Test to help you identify any red flags.
The Virginia seller disclosure form, or Residential Property Disclosure Statement, is a document developed by the Virginia Real Estate Board. It’s designed to help you disclose any known issues or facts about your home that could hurt its value or a buyer’s decision to continue with the transaction. Virginia law requires sellers to disclose all material facts — in other words, anything that could impact the buyer’s use or enjoyment of the property. The Residential Property Disclosure Statement form serves as a guide to help you complete this process thoroughly. It covers everything from structural issues and past repairs to neighborhood conditions and HOA rules.What is the Virginia seller disclosure form?
