Virginia Residential Property Disclosure Statement
Virginia Code §55.1-703 requires sellers to provide a Residential Property Disclosure Statement to buyers. Virginia's disclosure form is primarily an "as-is" notice — it acknowledges the buyer's right to inspect, rather than requiring detailed condition disclosure like many other states.
For more detailed disclosures, sellers may provide a Seller's Disclosure of Existing Conditions (not mandated but commonly used in transactions).
Known material defects that affect the value or use of the property should be disclosed regardless — concealment of known defects is actionable.
Flood Zone — Critical in Virginia Beach
Virginia Beach has extensive FEMA Special Flood Hazard Areas (SFHAs). Many properties are in flood zones — some are designated Zone AE, which requires flood insurance for federally backed loans.
Sellers should disclose:
Virginia Beach has been actively updating its floodplain maps. Check FEMA's MSC for the current designation.
Lead Paint
Required for pre-1978 homes.
Virginia Grantor Tax
Virginia Code §58.1-802 imposes a grantor's tax of $0.25 per $100 of consideration (0.25%). On a $390,000 sale: $975. This is paid by the seller.
Some localities (including certain Hampton Roads cities) may impose additional recordation taxes.
HOA in Virginia Beach Developments
Many Virginia Beach communities have HOAs. Virginia Code §55.1-1808 requires disclosure of HOA fees, rules, and pending assessments. Request the resale package from the HOA ($200–$400).
Download Virginia disclosure forms and find flat fee REIN MLS services.