New property Disclaimer |
As of July 1st there's a new property disclaimer/disclosure form in the state of Virginia. This form replaces the old forms and has three main changes.
First of all, you must indicate whether or not they are aware of whether the subject property is in a defined historic area. This would potentially make the property subject to many additional restrictions regarding how the property is used, how it is remodeled, etc. The form instructs potential purchasers to do due diligence to research this for themselves.
Secondly, the owner is representing that there are no enforcement actions pending against the property that effect the safe, decent and sanitary living conditions of the property.
And thirdly a notice that the owner makes no representations as to the whether the property encompasses any Resource Protection Areas pursuant to the Chesapeake Bay Preservation Act. Here again, purchasers are advised to do their own due diligence.
If your home was on the market as of July 1st, it is affected by this change. The older disclaimer/disclosure forms are no longer valid. So if your house is currently listed and the agent hasn't contacted you about getting the new form signed, give them a call!
