Let The Buyer Beware: A Comparison Of Flood-Related Real Estate Disclosure Laws Of Virginia And Other States
Advanced Search
Select up to three search categories and corresponding keywords using the fields to the right. Refer to the Help section for more detailed instructions.

Search our Collections & Repository

For very narrow results

When looking for a specific result

Best used for discovery & interchangable words

Recommended to be used in conjunction with other fields

Dates

to

Document Data
Library
People
Clear All
Clear All

For additional assistance using the Custom Query please check out our Help Page

i

Let The Buyer Beware: A Comparison Of Flood-Related Real Estate Disclosure Laws Of Virginia And Other States

Filetype[PDF-599.31 KB]



Details:

  • Personal Author:
  • NOAA Program & Office:
  • Sea Grant Program:
  • Description:
    Real estate disclosure laws vary from state to state, but there is a uniform need across the country for individuals and families to be well-informed about the conditions affecting a home before closing. Purchasing a home is typically the largest financial decision a person will make over the course of their lifetime, so it is critical that homeowners know of any conditions that could affect the value and longevity of their homes before committing to decades of debt. Some states have specific laws that protect buyers from unknown information by requiring a seller to disclose certain pieces of information to all potential buyers. However, in other states, this transfer of information is often impeded by a longstanding Common Law principle of property law: caveat emptor, or “let the buyer beware.” This white paper examines the state of flood disclosure laws for residential real estate transactions in Virginia and compares them to those of other states that have much more rigorous disclosure laws. Part II explores the history behind Virginia’s current “buyer beware” laws and examines previous attempts at establishing stricter real estate disclosure laws surrounding “special flood hazard areas”. Part III surveys a number of disclosure laws from other states that have successfully required sellers to disclose the risk of flooding in some capacity, and examines the events or circumstances that led to the enactment of those laws. Finally, Part IV concludes with an examination of the policy implications of implementing more stringent disclosure requirements in the Commonwealth.
  • Sea Grant Document Number:
    VSGCP-T-20-008
  • Document Type:
  • Rights Information:
    Public Domain
  • Compliance:
    Library
  • Main Document Checksum:
  • Download URL:
  • File Type:

Supporting Files

  • No Additional Files
More +

You May Also Like

Checkout today's featured content at repository.library.noaa.gov

Version 3.26.1