Condo Association Disclosure

TLDR: In Virginia, Buyers need to decide to proceed or terminate within three (3) days of receipt of the Condominium Association Resale Package. 

For more details on Condominium Association Disclosures, refer back to Step 2: Condo Association.

Virginia law requires that buyers receive three days to review Condominium Association Resale Packages with the option to terminate the sale. A Resale Package is a packet of information provided to those purchasing a condominium pertaining to the financial health and governing documents of the organization. 

The Resale Package will vary from state to state, but standard documents include:

Fun Fact

While uncommon, some properties are part of both a Homeowners’ Association and a Condo Association, requiring dues to two separate organizations. 

What questions should I ask about the Condo Association?