SELLING YOUR PROPERTY
SMSA advises members to request the real-estate disclosure package before putting your property on the market or early in the process to ensure all requirements are met in a timely manner.
ABOUT THE DISCLOSURE PACKAGE
The
disclosure package contains SMSA’s governing, financial reports and
other
key documents.
Under Virginia law, buyers who sign a purchase contract to purchase
a home
that’s either in a condo or an HOA
neighborhood must be provided
with
the resale package from the seller.
Virginia
Property Owners’ Association Act
A. Subject to the provisions of subsection A of § 55-509.10, an
owner
selling
a lot
shall disclose in the contract that (i) the lot is located within
a
development
that is subject to the Virginia Property Owners’ Association Act
(§
55-508 et seq.); (ii) the Act
requires the seller to obtain from the
property
owners’ association an association disclosure packet and provide it to the
purchaser; (iii) the purchaser may cancel the contract within three
days
after
receiving
the association disclosure packet or being notified
that the
association
disclosure packet will not be available.
SMSA's DISCLOSURE PACKAGE UPON REQUEST
SMSA's Disclosure Form
Common Interest Communitiy Board Resale Certificate Form
Fees for the CICB Resale Certificate
SMSA Complaint Procedure