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.  There is no statute requiring a rescission period for fee simple properties even if they are associated with an HOA.

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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Information on this page is believed to be accurate, but not guaranteed. Subject to change without notice. Realtors are not attorneys and are not permitted to give legal advice or interpretations. Refer to a legal professional for all related matters. Any information provided on this site pertaining to such issues is not intended as legal advice and is provided solely for the purpose of illustration. Resources cited are believed to be accurate but are not guaranteed and are subject to change without notice.
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