State guide

Buying or Selling a Home in Virginia: What You Need to Know

Virginia is a 'buyer beware' state where sellers do not fill out a checkbox-style property condition form — buyers are expected to inspect the home themselves.

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TL;DR

Virginia is a 'buyer beware' state where sellers do not fill out a checkbox-style property condition form — buyers are expected to inspect the home themselves. After the August 2024 NAR settlement, you must sign a written buyer brokerage agreement before an agent shows you any home, and the commission has to be spelled out clearly with no open-ended terms. Closings must be run by a licensed settlement agent under Virginia's CRESPA law, and both buyer and seller pay separate transfer taxes at closing.

9 things every Virginia buyer or seller should know

  • Virginia is a 'buyer beware' state: sellers do not fill out a checklist describing the condition of the home. Instead, the seller gives the buyer a standard Disclosure Statement that disclaims representations and tells the buyer to investigate, so a paid home inspection is essential before closing.

  • After August 17, 2024, the NAR settlement requires Virginia agents to sign a written buyer representation agreement with you before showing you any home. The agreement must spell out exactly how the agent will be paid — open-ended commission terms are not allowed.

  • Closings in Virginia must be handled by a licensed settlement agent under a state law called CRESPA. That settlement agent is either a Virginia-licensed attorney or a non-attorney settlement agent (often a title company) licensed by the Virginia State Bar.

  • If the home you are buying is in a homeowners' association, Virginia gives you a 3-day right to cancel after you receive the association's disclosure packet. The packet shows the HOA budget, rules, pending lawsuits, and any unpaid dues attached to the property — read it carefully before the deadline.

  • Buying a condo in Virginia gives you a 3-day right to cancel after you receive the condo resale certificate. The package includes the condo bylaws, current budget, reserve study, and any pending lawsuits against the condominium association.

  • Virginia sellers who know their home contains defective drywall must disclose that fact to the buyer. This rule traces back to imported Chinese-made drywall installed during the 2004-2008 building boom, which corroded wiring and HVAC parts in some homes.

  • If a Virginia home is on a private well or a septic system, the seller has to disclose details like whether the septic system is permitted, its design capacity, and whether it has ever failed inspection. These disclosures apply heavily in rural and exurban areas like the Northern Neck, the Shenandoah Valley, and outer suburbs.

  • Virginia's Fair Housing Law protects more groups than federal law. On top of race, color, religion, national origin, sex, disability, and familial status, Virginia adds protection for source of funds (like Section 8 vouchers), sexual orientation, gender identity, veteran status, and military status.

  • At a Virginia closing, the buyer typically pays the state recordation tax of about $0.25 per $100 of the sale price plus a local recordation tax that varies by county. The seller typically pays the grantor's tax of $0.50 per $500 of the sale price — both numbers can be re-negotiated in the contract, but those are the legal defaults.

The guides

Common questions

Do I have to sign an agreement with an agent before they show me a house in Virginia?
Yes. Starting August 17, 2024, the NAR settlement requires every agent to sign a written buyer brokerage agreement with you before touring a home. The agreement must lock in exactly how the agent will be paid, and Virginia law does not allow open-ended commission terms.
Can I cancel a Virginia home contract after I sign it?
Virginia gives you specific 3-day cancellation windows in two situations: after you receive the homeowners' association disclosure packet for a home in an HOA, and after you receive the condo resale certificate for a condo. Outside of those windows, you usually cannot cancel just because you changed your mind — you need a contract contingency like inspection, financing, or appraisal to back out.
Does the seller in Virginia have to tell me about problems with the house?
Not the way many other states do. Virginia uses a 'buyer beware' rule: the seller gives you a Disclosure Statement that disclaims representations, and you are expected to inspect the property yourself. Sellers must still disclose a few specific things they know about — including defective drywall, septic system status, and proximity to a military airfield noise zone.
Do I have to fill out a property condition checklist when I sell my Virginia home?
No. Virginia does not use a checkbox condition disclosure form like California's. Instead, you provide the state's standard Disclosure Statement, which tells the buyer to investigate the property themselves. You only have to affirmatively disclose a short list of specific issues you know about — like defective drywall, septic system permitting, and military airfield noise zones.
What taxes will I pay at closing on a Virginia home sale?
Buyers typically pay the state recordation tax of $0.25 per $100 of the sale price, plus a local recordation tax that varies by county. Sellers typically pay the grantor's tax of $0.50 per $500 of the sale price. Those amounts can be re-negotiated in the contract, but they are the defaults set by Virginia law.
Who handles the closing in Virginia — an attorney or a title company?
Either, but the closer must be a licensed settlement agent under a Virginia law called CRESPA. That means a Virginia-licensed attorney or a non-attorney settlement agent (often a title company) licensed by the Virginia State Bar. You can choose your settlement agent, and the choice is usually written into the purchase contract.
Now that the NAR settlement changed commissions, who pays my buyer's agent in Virginia?
Your buyer brokerage agreement spells out who pays your agent and how much. The seller can still agree to cover your agent's commission as a closing concession, and Virginia REALTORS contract forms include a built-in addendum for that. You and your agent decide up front the maximum you would owe out of pocket if the seller doesn't contribute.
Can I be turned away from a Virginia rental or sale because I use a Section 8 voucher?
No. Virginia's Fair Housing Law protects against discrimination based on 'source of funds,' which includes Housing Choice Vouchers (Section 8) and other legal income sources. Landlords and sellers cannot refuse you, advertise 'no vouchers,' or charge different terms because of your payment source.
If a buyer backs out of my Virginia home sale, do I keep their earnest money?
It depends on why they backed out. If the buyer canceled within a valid contract contingency — like inspection, financing, or appraisal — before its deadline, the earnest money is usually returned. If they walked away with no valid reason, you may be entitled to keep it, but Virginia rules require the broker holding the funds to either get both parties' written agreement or follow a court interpleader process before releasing the money.

Glossary

1 term
NAR — National Association of Realtors
The national trade group for real-estate agents. The 2024 NAR settlement is the legal deal that changed how buyer's agents get paid.