Every home has its quirks — those little things the homeowner learns to live with that could one day wind up on someone's fix-it list. If you've been thinking about selling your house, you might wonder exactly what you have to disclose to the buyer. Do you really have to talk about that time the the roof leaked a couple of summers ago or mention that the back door sticks sometimes?

State and federal law govern the disclosure of information by homeowners to prospective buyers. In Virginia, information must be disclosed per the state's Residential Property Disclosure Statement. Take a look at the document and you'll see that the responsibility to seek information about a property lies with the buyer.

Virginia is what's known as a Buyer Beware state when it comes to real estate. A seller is prohibited from concealing a problem or lying to a prospective buyer or the buyer's agent when asked a question about the home; but in general, if you are a prospective buyer, you need to ask questions to learn about the condition of a property. According to the Residential Property Disclosure Statement (Code of Virginia § 55-519), the seller makes no representations (that is, discloses no information) about the following:

• The condition of the property or improvements.
• Adjacent parcels.
• Whether the property is subject to historical ordinances.
• Whether the property is protected by the Chesapeake Bay Preservation Act.
• Registered sexual offenders which may live near the property.
• Whether the property is within a dam-break inundation zone.
• Whether any stormwater detention facilities are located on the property.
• Whether there is a wastewater system on the property.
• Whether solar energy collection devices can be used on the property.
• Whether the property is located in a flood zone.
• Whether the property is subject to conservation or other easements.
• Whether the property is subject to a community development authority.

In each case, the document advises the buyer to do due diligence, placing the onus to learn about the property squarely on the buyer. If factors on this list will influence a buying decision, it's up to the buyer to ask the question.

Must the seller disclose anything?

Now, on the other side of the coin, Virginia requires some specific disclosures if they apply to a particular property. A seller must disclose:

• If a property's septic system needs repair or maintenance as required by the State Board of Health, but the property owner has obtained a waiver from the board.
• If the property is located in the noise zone or accident potential zone of a nearby military air installation.
• If the home has defective drywall.
• If the methamphetamine has been manufactured on the property.
• If any code or zoning ordinance violations are pending against the property.
• In some locations, if mining has been conducted on the property and if any mining shafts or pits are located on the property (not applicable in the Roanoke Valley).

Do the disclosure regulations apply to every home sale?

No. There are a number of situations in which disclosure regulations do not apply. For example, disclosures are not required when the transaction is between owners, is the result of a divorce decree, or is the result of unpaid taxes. Virginia code states other exemptions in § 55-518.

In addition, this is not the same set of disclosures required in the sale of a new home. A builder must disclose any known defects that constitute a code violation and, in some locations, whether mining has been performed on the property (again, not in the Roanoke area).

Anything else?

Federal law does require certain disclosures. Primarily, residential buyers will receive, for any property built before 1978, disclosure of "any known information concerning the presence of lead-based paint or lead-based paint hazards in the home," as required by the EPA.

What does this mean for homebuyers?

The message to homebuyers is pretty clear: Do your homework. Ask lots of questions. Allow plenty of time for a home inspection and any other testing you might want to do. Let your Realtor help guide you in doing your due diligence when it comes learning about your potential new home.

If you have other questions about the homebuying process or are ready to get started, contact me anytime at (540) 793-0442 or rpayne@mkbrealtors.com. Be sure to like my page on Facebook.