Contracts
Under the Virginia Residential Property Disclosure Act, a seller of a residential property must provide a disclosure form that:
AWarrants the property is free of all defects
BStates the seller's actual knowledge of specified conditions and defects✓ Correct
CIncludes a professional home inspection report
DIs certified by a licensed home inspector
Explanation
The Virginia Residential Property Disclosure Act requires sellers to disclose known conditions about the property using a standard form. It is based on actual knowledge; sellers are not required to investigate or warrant property condition.
Related Virginia Contracts Questions
- A Virginia real estate contract contains a 'time is of the essence' clause. This means:
- In Virginia, a buyer who has an accepted offer but before closing learns the seller has listed the home as having two fireplaces when it actually has one may:
- A Virginia condominium buyer receives the resale certificate, reviews it, and finds the association has a $50,000 special assessment pending. The buyer may:
- A Virginia contract for the sale of real estate has an 'as-is' clause. What does this mean for the seller?
- A Virginia buyer's lender approves a loan conditional on the buyer's current condo selling first. This type of loan approval is:
- In a Virginia short sale, who must approve the sale price before the transaction can close?
- Which party in a Virginia real estate contract typically has the right to specific performance if the other party breaches?
- In Virginia, a buyer who defaults on a real estate contract by refusing to close may be liable for:
Practice More Virginia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Virginia Quiz →