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HB 1518

Buyer to beware; Va. Housing Commission to review existing required disclosures, etc.

2026 Regular Session Introduced by Kelly Fowler

HB 1518 updates Virginia's residential property disclosure form to standardize information requirements between buyers and sellers in real estate transactions.

Approved by Governor-Chapter 871 (effective 7/1/2026)
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Bill Summary · HB 1518

Legislative bill overview

HB 1518 modifies Virginia's residential property disclosure requirements by updating the form that real estate agents and sellers must use when disclosing known defects and conditions to potential buyers. The bill appears to standardize or revise the disclosure statement form administered by Virginia's Real Estate Board to reflect current legal standards and property conditions relevant to today's housing market.

Why is this important

Property disclosure forms are critical consumer protection tools that help buyers make informed decisions and reduce disputes after purchase. Changes to these forms can affect the scope of information sellers must reveal, potentially impacting buyer protections, seller liability, and transaction costs across Virginia's real estate market.

Potential points of contention

  • Scope of disclosures: Whether the revised form expands or narrows what conditions sellers must disclose (environmental hazards, structural issues, previous flooding, etc.), affecting buyer protections
  • Seller liability: Changes could increase or decrease legal exposure for sellers if they fail to disclose known defects, altering risk distribution in transactions
  • Real estate industry impact: Updated requirements may increase compliance burdens or costs for agents and sellers, or conversely reduce administrative requirements

Compiled from official sources — confirm details with the bill’s official record.

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