by Daniel Yoon | eXp Realty | Richmond, Virginia
Virginia is a caveat emptor state, which means “buyer beware.” Unlike states that require lengthy disclosure forms covering every system in the home, Virginia’s disclosure requirements are minimal. But minimal does not mean optional. If you lie about or actively conceal a known problem, you face legal liability. Here is exactly what you must disclose and what you can keep to yourself.
The Virginia Residential Property Disclosure Statement
Virginia law (Code of Virginia 55.1-700) requires sellers to provide a Residential Property Disclosure Statement before the buyer signs a binding contract. This form covers specific items including dam break inundation zones, wastewater systems, mining operations, building code violations, methamphetamine manufacturing history, and pending litigation.
What it does NOT require you to disclose: the general condition of the roof, HVAC, plumbing, electrical, or other systems. Virginia’s form is essentially a checklist of very specific hazards, not a comprehensive property condition report.
What You Cannot Do
- You cannot lie. If a buyer asks about the roof and it leaks, you must answer honestly.
- You cannot actively conceal. Painting over water stains to hide damage is concealment and exposes you to fraud claims.
- You cannot ignore known material defects. If you know the foundation has a structural crack, hiding it creates legal risk.
Federal Disclosure: Lead Paint
If your home was built before 1978, federal law requires you to disclose any known lead-based paint hazards. This applies everywhere in the US, including Virginia. You must provide buyers with the EPA pamphlet on lead paint and give them 10 days to conduct a lead inspection if they choose.
What Smart Sellers Do
Even though Virginia does not require a full property condition report, I recommend my sellers complete one voluntarily. Why? Because proactive disclosure builds trust with buyers, reduces the chance of post-sale disputes, and often results in smoother negotiations. Buyers who feel informed are less likely to nickel-and-dime you during the inspection period.
Common Disclosure Mistakes in Richmond
- Not mentioning past water intrusion. Richmond’s clay soil causes basement and crawl space moisture. If you have had water issues and addressed them, disclose the problem AND the fix.
- Hiding unpermitted work. That bathroom addition or finished basement without permits will surface during the appraisal or inspection. Disclose it upfront.
- Ignoring HOA special assessments. If your HOA has an upcoming assessment, buyers need to know.
FAQs
What do Virginia sellers have to disclose?
Virginia requires disclosure of specific items including dam break zones, wastewater systems, mining history, code violations, meth manufacturing, and pending litigation. General property condition disclosure is not required, but sellers cannot lie or conceal known defects.
Can I be sued for not disclosing a problem in Virginia?
Yes. While Virginia is a caveat emptor state, sellers who actively conceal known material defects or lie in response to buyer questions can face fraud claims and lawsuits.
Do I have to disclose foundation problems in Virginia?
Virginia’s disclosure form does not specifically require it, but if you know about a structural foundation issue and a buyer asks, you must answer honestly. Concealing it creates legal liability.
Selling your home in Richmond? Call Daniel Yoon at (804) 896-2694. I guide my sellers through disclosure requirements and help you present your home honestly and effectively.