Virginia Seller's Confirmation of Receipt and Acceptance of Order
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How to fill out Seller's Confirmation Of Receipt And Acceptance Of Order?
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FAQ
Virginia is a caveat emptor (buyer beware) state. This essentially means that the responsibility for conducting a thorough inspection of the property that is contemplated to be purchased is on the Buyer.
The Act also states that sellers of residential property located partially or wholly within a designated tourism activity zone established pursuant to § 15.2-982 may disclose in writing to prospective buyers or lessees that the property is located within a tourism activity zone.
In Greater Vancouver, this document is filled out by the seller, with the assistance of the realtor, and is called the Property Disclosure Statement. (PDS) The seller signs this prior to or upon listing the property, and then the buyer will review it either prior to writing an offer or upon an accepted offer.
Chapter 17.24 RPD RESIDENTIAL PLANNED DEVELOPMENT.
The Virginia Residential Property Disclosure Act (§ 55.1-700 et seq. of the Code of Virginia) governs the information owners must disclose to prospective purchasers of residential real property. Certain residential property transfers are excluded from the requirements (see A§ 55.1-702).
Although federal law requires some basic disclosures across the U.S., Virginia law does not require sellers to disclose much information about their property at all.
Virginia is a caveat emptor (buyer beware) state. This essentially means that the responsibility for conducting a thorough inspection of the property that is contemplated to be purchased is on the Buyer.
Virginia Seller Disclosure Requirements In Virginia, however, the seller is obligated only to provide the buyer with a "Residential Property Disclosure Statement," (Code of Virginia § 55.1), which contains little information beyond statements by the seller about what is NOT being disclosed.
Sellers of real estate in Virginia are not necessarily required to fully disclose all property defects when you buy the property, especially when the sale is AS IS. Typically, it is the buyer who must exercise the required due diligence before purchasing the property.
13.04. RPD RESIDENTIAL PLANNED DEVELOPMENT DISTRICTS.
