Virginia HOA Resale Disclosure: What the Law Requires

Two Laws, Two Sets of Rules

Virginia doesn't have a single HOA disclosure statute. It has two — and which one applies depends on what type of community you're dealing with.

The Property Owners' Association Act (Virginia Code §55.1-1800 et seq.) covers planned communities, townhome associations, and most single-family HOAs. The Virginia Condominium Act (§55.1-1900 et seq.) covers condominium associations.

The requirements overlap but aren't identical. If you're closing on a condo, you need to know the Condo Act. If it's a planned community, you need the POA Act. Get the wrong one, and you've got an incomplete disclosure.

What the Property Owners' Association Act Requires

Under §55.1-1809, when a lot in a POA is being resold, the seller must provide the buyer with a disclosure packet. This isn't optional — it's a statutory requirement.

The packet must include:

• •The association's governing documents. CC&Rs, bylaws, articles of incorporation, and any rules and regulations currently in effect.
• •Current financial information. The most recent annual budget, a statement of reserves, and any pending special assessments.
• •Assessment information. The amount and frequency of regular assessments, any amounts currently owed by the seller, and the status of the account.
• •Insurance information. A summary of the association's master insurance coverage.
• •Meeting minutes. Minutes from the board meetings held during the prior 12 months, if available.
• •Any pending litigation involving the association.
• •Architectural guidelines and any pending violations against the property.

The association has 14 days from receiving the request to deliver the packet. The seller (or their agent) typically orders it, and the cost is negotiable between buyer and seller.

What the Condominium Act Requires

The Condo Act (§55.1-1992) has similar but slightly different requirements for resale certificates. The association must provide:

• •A copy of the declaration, bylaws, and rules
• •The current operating budget
• •A statement of any reserves for capital expenditures
• •A statement of any pending suits involving the association
• •A statement of the monthly assessment amount
• •The amount of any unpaid assessments against the unit
• •A statement of any capital expenditures anticipated by the board in the current and next fiscal year
• •The most recent reserve study, if one exists
• •Any master insurance coverage summary

Timeline: Also 14 days, consistent with the POA Act.

The Cost Question

Virginia doesn't cap disclosure packet fees. Management companies set their own prices, and the range is wide.

Typical costs:

• •Standard resale packet: $150-$350
• •Rush delivery (5-7 days): Add $75-$200
• •Super rush (under 5 days): Add $150-$300
• •Update to an existing packet: $50-$150

Some management companies charge separately for the financial information and the governing documents. Others bundle everything. Always confirm what's included before ordering.

In most Virginia transactions, the seller pays for the disclosure packet — but this is negotiable in the purchase contract. In a strong seller's market, buyers sometimes agree to cover the cost.

The Buyer's Right to Cancel

Here's the part a lot of agents overlook: Virginia law gives buyers a right to cancel the contract based on the HOA disclosure.

Under the POA Act, the buyer has 3 days after receiving the resale disclosure packet to cancel the contract — no questions asked. For condos under the Condo Act, the cancellation period is also 3 days.

This cancellation right is separate from any inspection contingency in the contract. Even if the inspection period has passed, the buyer can still cancel within 3 days of receiving the HOA disclosure.

Practical implication: If HOA documents arrive late in the process and the buyer finds something they don't like, they still have a cancellation window. This makes timely delivery even more important.

Common Pitfalls in Virginia

Ordering from the wrong entity. Some Virginia communities have both a master association and a sub-association. You may need disclosure packets from both. Missing one creates an incomplete disclosure.

Assuming "delivered" means "received." The 14-day clock starts when the association receives the request, not when they send it. If there's a delay in getting the request to the right person — especially with self-managed associations — you've lost time before the clock even starts.

Not verifying the account status. The disclosure packet includes a statement of any amounts owed by the seller. If the seller has unpaid assessments, those need to be settled at or before closing. Don't wait until the closing table to discover a $2,000 balance.

Ignoring pending special assessments. Virginia requires disclosure of pending special assessments, but "pending" can be interpreted loosely. A board may have discussed a special assessment without formally voting on it. Ask directly if there are any assessments under consideration.

Northern Virginia vs. the Rest of the State

Northern Virginia — Arlington, Fairfax, Loudoun, Prince William — accounts for a disproportionate share of Virginia's HOA transactions. The management companies operating in NoVA are generally well-organized and meet the 14-day deadline without issues.

Outside NoVA, you'll encounter more self-managed associations and smaller management companies. Turnaround times can stretch past the 14-day mark, and the document quality varies.

If you're closing on a property in a less urban part of Virginia, build in extra time. Start the document request as soon as the contract is ratified.

Best Practices for Virginia Closings

1. 1.Identify the association type immediately. Is it a POA, a condo, or both? This determines which statute applies.
2. 2.Order early. Don't wait for the home inspection to come back. Order the disclosure packet the same day the contract is ratified.
3. 3.Confirm the management company. A quick call to the association or a check on the county records can save days of misdirected requests.
4. 4.Review the packet as soon as it arrives. The 3-day cancellation window starts on delivery, so buyers need to be prepared to review quickly.
5. 5.Check for dual associations. Master + sub-association situations require two separate orders.

Virginia's HOA disclosure process is straightforward once you understand which law applies and what's required. The key is getting ahead of the timeline rather than chasing it.