DC RESCISSION PERIODS

For Condo and HOA Document Review

Washington DC and Northern Virginia Rescission Periods for Condos and Home Owners Associations

The District of Columbia, Virginia and Maryland all have condominium statutes that require home sellers to provide association information to a buyer of a unit while the unit is under contract. Each jurisdiction has different requirements.

Rescission Periods in the District of Columbia

Rescission periods begin on receipt of a ratified contract, or buyer’s receipt of association documents/resale package, whichever is latest. The GCAAR District of Columbia contract provides buyers 3 business days not counting date of receipt for review of a DC resale condo or HOA document package. New construction buyers have 15 calendar days for condominium document review.  While the GCAAR contract provides rescission periods for new construction condos and fee simple purchases associated with an HOA, developer contracts may have no provision and there is no statute requiring a rescission period. So if you are purchasing a new townhome or detached home from a builder, check your contract carefully to make sure they provide at least three days for HOA document review and rescission. If they do not, ask your agent to negotiate before signing. If you are purchasing a home that is not part of a condominium association or Home Owners Association, you will not Resale Certificate package and, thus, have no period of time allotted for reviewing rescission.

Rescission Periods in Northern Virginia

Rescission terms for condominiums New construction: 10 days; Resale purchases: 3 days. From the VA Condo Act: “The purchaser may cancel the contract (i) within three days after the date of the contract, if on or before the date that the purchaser signs the contract, the purchaser receives the association disclosure packet ….” (Section 55-511C) Ratification of the contract sets the rescission period in motion. Be sure to check with your agent regarding rescission periods for fee simple purchases in an HOA and new construction fee simple purchases.

District of Columbia Condo Act

The District of Columbia Condo Act can be amended. Be sure to check for updates.

Virginia Condo Act

The Virginia Condo Act can be amended. Be sure to check for updates.

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