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.
This abstract has been adapted from the author's introduction.
Snyder, Emily and Kulesza, Clay, "Let the Buyer Beware: A Comparison of Flood-Related Real Estate Disclosure Laws of Virginia and Other States" (2020). Virginia Coastal Policy Center. 46.