                                 CODE OF VIRGINIA

REQUIRED DISCLOSURES FOR BUYER TO BEWARE; BUYER TO EXERCISE NECESSARY DUE
DILIGENCE (§ 55.1-703)

A. The owner of the residential real property shall furnish to a purchaser a
residential property disclosure statement for the buyer to beware of certain
matters that may affect the buyer&#8217;s decision to purchase such real
property. Such statement shall be provided by the Real Estate Board on its
website.

B. The residential property disclosure statement provided by the Real Estate
Board on its website shall include the following:

   1. The owner makes no representations or warranties as to the condition of the
   real property or any improvements thereon, or with regard to any covenants and
   restrictions, or any conveyances of mineral rights, as may be recorded among
   the land records affecting the real property or any improvements thereon, and
   purchasers are advised to exercise whatever due diligence a particular
   purchaser deems necessary, including obtaining a home inspection, as defined
   in &#xA7; 54.1-500, a mold assessment conducted by a business that follows the
   guidelines provided by the U.S. Environmental Protection Agency, and a
   residential building energy analysis, as defined in &#xA7; 54.1-1144, in
   accordance with terms and conditions as may be contained in the real estate
   purchase contract, but in any event prior to settlement pursuant to such
   contract;

   2. The owner makes no representation with respect to current lot lines or the
   ability to expand, improve, or add any structures on the property, and
   purchasers are advised to exercise whatever due diligence a particular
   purchaser deems necessary, including obtaining a property survey and
   contacting the locality to determine zoning ordinances or lot coverage,
   height, or setback requirements on the property.

   3. The owner makes no representations with respect to any matters that may
   pertain to parcels adjacent to the subject parcel, including zoning
   classification or permitted uses of adjacent parcels, and purchasers are
   advised to exercise whatever due diligence a particular purchaser deems
   necessary with respect to adjacent parcels in accordance with terms and
   conditions as may be contained in the real estate purchase contract, but in
   any event prior to settlement pursuant to such contract;

   4. The owner makes no representations to any matters that pertain to whether
   the provisions of any historic district ordinance affect the property, and
   purchasers are advised to exercise whatever due diligence a particular
   purchaser deems necessary with respect to any historic district designated by
   the locality pursuant to &#xA7; 15.2-2306, including review of (i) any local
   ordinance creating such district, (ii) any official map adopted by the
   locality depicting historic districts, and (iii) any materials available from
   the locality that explain (a) any requirements to alter, reconstruct,
   renovate, restore, or demolish buildings or signs in the local historic
   district and (b) the necessity of any local review board or governing body
   approvals prior to doing any work on a property located in a local historic
   district, in accordance with terms and conditions as may be contained in the
   real estate purchase contract, but in any event prior to settlement pursuant
   to such contract;

   5. The owner makes no representations with respect to whether the property
   contains any resource protection areas established in an ordinance
   implementing the Chesapeake Bay Preservation Act (&#xA7; 62.1-44.15:67 et
   seq.) adopted by the locality where the property is located pursuant to &#xA7;
   62.1-44.15:74, and purchasers are advised to exercise whatever due diligence a
   particular purchaser deems necessary to determine whether the provisions of
   any such ordinance affect the property, including review of any official map
   adopted by the locality depicting resource protection areas, in accordance
   with terms and conditions as may be contained in the real estate purchase
   contract, but in any event prior to settlement pursuant to such contract;

   6. The owner makes no representations with respect to information on any
   sexual offenders registered under Chapter 23 (&#xA7; 19.2-387 et seq.) of
   Title 19.2, and purchasers are advised to exercise whatever due diligence they
   deem necessary with respect to such information, in accordance with terms and
   conditions as may be contained in the real estate purchase contract, but in
   any event prior to settlement pursuant to such contract;

   7. The owner makes no representations with respect to whether the property is
   within a dam break inundation zone. Such disclosure statement shall advise
   purchasers to exercise whatever due diligence they deem necessary with respect
   to whether the property resides within a dam break inundation zone, including
   a review of any map adopted by the locality depicting dam break inundation
   zones;

   8. The owner makes no representations with respect to the presence of any
   wastewater system, including the type or size of the wastewater system or
   associated maintenance responsibilities related to the wastewater system,
   located on the property, and purchasers are advised to exercise whatever due
   diligence they deem necessary to determine the presence of any wastewater
   system on the property and the costs associated with maintaining, repairing,
   or inspecting any wastewater system, including any costs or requirements
   related to the pump-out of septic tanks, in accordance with terms and
   conditions as may be contained in the real estate purchase contract, but in
   any event prior to settlement pursuant to such contract;

   9. The owner makes no representations with respect to any right to install or
   use solar energy collection devices on the property;

   10. The owner makes no representations with respect to whether the property is
   located in one or more special flood hazard areas, and purchasers are advised
   to exercise whatever due diligence they deem necessary, including (i)
   obtaining a flood certification or mortgage lender determination of whether
   the property is located in one or more special flood hazard areas, (ii)
   reviewing any map depicting special flood hazard areas, (iii) contacting the
   Federal Emergency Management Agency (FEMA) or visiting the website for
   FEMA&#8217;s National Flood Insurance Program or the Virginia Flood Risk
   Information website operated by the Department of Conservation and Recreation,
   and (iv) determining whether flood insurance is required, in accordance with
   terms and conditions as may be contained in the real estate purchase contract,
   but in any event prior to settlement pursuant to such contract. A flood risk
   information form, pursuant to the provisions of subsection D, that provides
   additional information on flood risk and flood insurance is available for
   download by the Real Estate Board on its website;

   11. The owner makes no representations with respect to whether the property is
   subject to one or more conservation or other easements, and purchasers are
   advised to exercise whatever due diligence a particular purchaser deems
   necessary in accordance with terms and conditions as may be contained in the
   real estate purchase contract, but in any event prior to settlement pursuant
   to such contract;

   12. The owner makes no representations with respect to whether the property is
   subject to a community development authority approved by a local governing
   body pursuant to Article 6 (&#xA7; 15.2-5152 et seq.) of Chapter 51 of Title
   15.2, and purchasers are advised to exercise whatever due diligence a
   particular purchaser deems necessary in accordance with terms and conditions
   as may be contained in the real estate purchase contract, including
   determining whether a copy of the resolution or ordinance has been recorded in
   the land records of the circuit court for the locality in which the community
   development authority district is located for each tax parcel included in the
   district pursuant to &#xA7; 15.2-5157, but in any event prior to settlement
   pursuant to such contract;

   13. The owner makes no representations with respect to whether the property is
   located on or near deposits of marine clays (marumsco soils), and purchasers
   are advised to exercise whatever due diligence a particular purchaser deems
   necessary in accordance with terms and conditions as may be contained in the
   real estate purchase contract, including consulting public resources regarding
   local soil conditions and having the soil and structural conditions of the
   property analyzed by a qualified professional;

   14. The owner makes no representations with respect to whether the property is
   located in a locality classified as Zone 1 or Zone 2 by the U.S. Environmental
   Protection Agency&#8217;s (EPA) Map of Radon Zones, and purchasers are advised
   to exercise whatever due diligence they deem necessary to determine whether
   the property is located in such a zone, including (i) reviewing the
   EPA&#8217;s Map of Radon Zones or visiting the EPA&#8217;s radon information
   website; (ii) visiting the Virginia Department of Health&#8217;s Indoor Radon
   Program website; (iii) visiting the National Radon Proficiency Program&#8217;s
   website; (iv) visiting the National Radon Safety Board&#8217;s website that
   lists the Board&#8217;s certified contractors; and (v) ordering a radon
   inspection, in accordance with the terms and conditions as may be contained in
   the real estate purchase contract, but in any event prior to settlement
   pursuant to such contract;

   15. The owner makes no representations with respect to whether the property
   contains any pipe, pipe or plumbing fitting, fixture, solder, or flux that
   does not meet the federal Safe Drinking Water Act definition of &#8220;lead
   free&#8221; pursuant to 42 U.S.C. &#xA7; 300g-6, and purchasers are advised to
   exercise whatever due diligence they deem necessary to determine whether the
   property contains any pipe, pipe or plumbing fitting, fixture, solder, or flux
   that does not meet the federal Safe Drinking Water Act definition of
   &#8220;lead free,&#8221; in accordance with terms and conditions as may be
   contained in the real estate purchase contract, but in any event prior to
   settlement pursuant to such contract;

   16. The owner makes no representations with respect to the existence of
   defective drywall on the property, and purchasers are advised to exercise
   whatever due diligence they deem necessary to determine whether there is
   defective drywall on the property, in accordance with terms and conditions as
   may be contained in the real estate purchase contract, but in any event prior
   to settlement pursuant to such contract. For purposes of this subdivision,
   &#8220;defective drywall&#8221; means the same as that term is defined in
   &#xA7; 36-156.1;

   17. The owner makes no representation with respect to the condition or
   regulatory status of any impounding structure or dam on the property or under
   the ownership of the common interest community that the owner of the property
   is required to join, and purchasers are advised to exercise whatever due
   diligence a particular purchaser deems necessary to determine the condition,
   regulatory status, cost of required maintenance and operation, or other
   relevant information pertaining to the impounding structure or dam, including
   contacting the Department of Conservation and Recreation or a licensed
   professional engineer; and

   18. The owner makes no representations or warranties with respect to the
   property&#8217;s proximity to a public use airport nor any noise from aircraft
   due to the proximity of the property to flight operations. The Federal
   Aviation Administration is responsible for managing the national airspace
   system, including aircraft flight paths. Purchasers are advised to exercise
   whatever due diligence a particular purchaser deems necessary to determine
   whether a property is within proximity to a flight path or public use airport
   aircraft noise zone, including contacting (i) the locality or public use
   airport and reviewing any available maps depicting public use airport aircraft
   noise zones or (ii) the Department of Aviation or visiting the Department of
   Aviation&#8217;s website, where any such maps, if made available by localities
   or public use airports, shall be accessible to the public.

C. The residential property disclosure statement shall be delivered in
accordance with &#xA7; 55.1-709.

D. The Real Estate Board shall make available on its website a flood risk
information form. Such form shall be substantially as follows:
			Flood Risk Information Form
			The purpose of this information form is to provide property owners and
potential property owners with information regarding flood risk. This
information form does not determine whether a property owner will be required to
purchase a flood insurance policy. That determination is made by the lender
providing a loan for the property at the lender&#8217;s discretion.
			Mortgage lenders are mandated under the Flood Disaster Protection Act of 1973
and the National Flood Insurance Reform Act of 1994 to require the purchase of
flood insurance by property owners who acquire loans from federally regulated,
supervised, or insured financial institutions for the acquisition or improvement
of land, facilities, or structures located within or to be located within a
Special Flood Hazard Area. A Special Flood Hazard Area (SFHA) is a high-risk
area defined as any land that would be inundated by a flood, also known as a
base flood, having a one percent chance of occurring in a given year. The lender
reviews the current National Flood Insurance Program (NFIP) maps for the
community in which the property is located to determine its location relative to
the published SFHA and completes the Standard Flood Hazard Determination Form
(SFHDF), created by the Federal Emergency Management Agency (FEMA). If the
lender determines that the structure is indeed located within a SFHA and the
community is participating in the NFIP, the borrower is then notified that flood
insurance will be required as a condition of receiving the loan. A similar
review and notification are completed whenever a loan is sold on the secondary
loan market or when the lender completes a routine review of its mortgage
portfolio.
			Properties that are not located in a SFHA can still flood. Flood damage is
not generally covered by a standard home insurance policy. It is prudent to
consider purchasing flood insurance even when flood insurance is not required by
a lender. Properties not located in a SFHA may be eligible for a low-cost
preferred risk flood insurance policy. Property owners and buyers are encouraged
to consult with their insurance agent about flood insurance.
			What is a flood? A flood is a general and temporary condition of partial or
complete inundation of two or more acres of normally dry land area or of two or
more properties, at least one of which is the policyholder&#8217;s property,
from (i) overflow of inland or tidal waters, (ii) unusual and rapid accumulation
or runoff of surface waters from any source, (iii) mudflow, or (iv) collapse or
subsidence of land along the shore of a lake or similar body of water as a
result of erosion or undermining caused by waves or currents of water exceeding
anticipated cyclical levels that result in a flood.
			FEMA is required to update Flood Maps every five years. Flood zones for this
property may change due to periodic map updates. To determine what flood zone or
zones a property is located in a buyer can visit the website for FEMA&#8217;s
National Flood Insurance Program or the Virginia Department of Conservation and
Recreation&#8217;s Flood Risk Information System website.

HISTORY: 1992, c. 717, § 55-519; 1996, c. 379; 1998, cc. 384, 795; 2005, c.
510; 2006, cc. 247, 514, 533, 705, 767; 2007, cc. 265, 784; 2008, c. 491; 2009,
c. 641; 2010, c. 518; 2011, c. 461; 2013, c. 357; 2015, cc. 79, 269; 2016, cc.
161, 323, 436, 505; 2017, cc. 386, 569; 2018, cc. 60, 86; 2019, cc. 390, 504,
712; 2020, cc. 23, 24, 26, 186, 200, 313, 520, 655, 656; 2021, Sp. Sess. I, cc.
10, 322, 323; 2022, c. 268; 2025, cc. 15, 25.