Monday, February 1, 2010

Selling & Purchasing Lots in Trails End

Please be aware of the Virginia Property Owner’s Act that requires anyone selling a lot within Trails End to provide the purchaser certain information. The law states any person selling a lot shall disclose to the buyer that the lot is located within a development which is subject to the Virginia Property Owners’ Association Act along with other governing documents directly enacted by the association. The Act further requires the seller obtain an association disclosure packet from the property owner’s association and provide it to the purchaser at the seller’s expense. Failure to provide the packet as mandated may result in the cancellation of the contract by the purchaser at any given time prior to the settlement.

The general purpose of the disclosure packet is to inform the purchaser of applicable governing documents of the association, and those are available at the office for a fee of $25 per packet. Please contact the office in advance to make arrangement to obtain a package. Disclosure packets are prepared as needed, so please contact the office in advance to pick up a packet.