As of July 1st, the Virginia General Assembly is FINALLY enacting a law that requires home sellers and landlords to disclose the existence of known defective (“Chinese”) drywall in a home. Believe it or not prior to July 1st you did not have to let prospective buyers know.
Disclosure is required of REO ( Bank Owned) and foreclosed property holders as well, unlike the requirements of the Virginia Residential Property Disclosure Act.
Sad that it took over five years from the first report of defective Chinese Drywall for legislators to act.
Read more about Chinese Drywall issues in Hampton Roads and Williamsburg VA here
Filed under: chinese drywall issues, chinese drywall issues, hampton roads, williamsburg va |
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