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Home inspections, eminent domain and education

HB2011: Residential Property Disclosure Act; amends required residential property disclosure statement

This is one of the bills that may have the most impact on buyers and sellers of real estate in Virginia. Currently, there are two forms from which to choose when selling a home – a Disclosure or Disclaimer (pdf). I wrote about this a couple of weeks ago, but now it appears that HB2011 is very likely to pass into Law. There will essentially no longer be a Disclaimer, but caveat emptor will still be present. Note the changes, of which there are far too many to itemize here. One of the more interesting changes is the advocacy of the home inspection:

(ii) The owner makes no representations or warranties as to the condition of the real property or any improvements thereon, and purchasers are advised to exercise whatever due diligence a particular purchaser deems necessary including obtaining a certified home inspection, as defined in § 54.1-500, in accordance with terms and conditions as may be contained in the real estate purchase contract, but in any event, prior to settlement on a parcel of residential real property.

HB2064: Salespersons & brokers; Real Estate Board to adopt regulations establishing educational requirement.

More education is typically a good thing.

SB1296: Eminent domain; not to be used for purpose of economic development or to increase tax revenue.

The public position of VAR (no longer available), and an opposing view (archived: 2013). I am torn in my view of eminent domain. If a broadband company is expanding into a rural area, and one landowner is stopping that progress, part of me supports the landowner’s right to keep his land and, in turn, harm all of those around him. The other side of me recognizes the need to progress and expansion, and realizes that this is an example of justified eminent domain. If government could be trusted, this I wouldn’t be so conflicted.

HB3202: Transportation funding; authority to certain localities to impose additional fees therefor, report

I don’t even know where to begin on this one. Transportation is such an extraordinarily complex, convoluted and conflicting issue, all I can do is hope that something productive comes to pass.

Interested in Learning More?

Jim Duncan has been helping buyers and sellers in Charlottesville’s neighborhoods for 25 years. Get local insight born of experience.

Dig Deeper

Sewer Scopes are Good (in Charlottesville)

Sewer Scopes are Good (in Charlottesville)

Orangeburg, Terra Cotta, PVC .. what kind of sewer line does your house have? What kind of sewer line does the house you're considering have? I wrote last month about sewer scopes I advise my buyers to have the sewer lines scoped. It’s usually about…

When Should Buyers Pull their Credit (when buying a home)?

When Should Buyers Pull their Credit (when buying a home)?

I asked Matt Hodges with Gray Fox Mortgage  a couple simple questions a lot of my buyer clients have, and thought you'd find the answers useful. When should buyers let their lender pull their credit? Regardless of when a buyer wants to purchase, if they…

Artificial Housing Inventory in Charlottesville

Artificial Housing Inventory in Charlottesville

I'm guilty of this, too. For houses that come on the market in Charlottesville and the Charlottesville area, what I'm seeing is this Home is listed as a Coming Soon on Monday/Tuesday so that we Realtors can tee up our buyers. House is activated on…

Interested in Learning More?

Jim Duncan has been helping buyers and sellers in Charlottesville’s neighborhoods for 25 years. Get local insight born of experience.