Virginia law requires sellers to provide an HOA disclosure packet. Most buyers skim it. The ones who read it carefully avoid the surprises that sting. Here's what to look for.
Under Virginia Code § 55.1-1809, sellers in an HOA community are required to provide buyers with a resale disclosure packet. You have three days to review it after receipt and can void the contract during that window. The packet typically includes the HOA's declaration, bylaws, rules and regulations, current budget, reserve fund study, and disclosure of any pending special assessments or litigation.
In a 55+ community like Heritage Hunt or Regency at Dominion Valley, this packet can run 200+ pages. Most buyers acknowledge receipt and move on. The buyers who read it carefully are the ones who avoid unpleasant surprises six months after closing.
The reserve fund is the HOA's savings account for major capital repairs — roofs, pools, HVAC, paving. A well-funded reserve is generally 70%+ funded relative to projected needs. Under 50% funded is a yellow flag. Under 30% funded with major capital items coming due is a red flag that often precedes a special assessment.
A special assessment is a one-time charge to all owners when the reserve fund is insufficient for a major repair. Ask directly: are there any pending or recently approved special assessments? This must be disclosed — but asking directly ensures nothing is glossed over.
HOA rules in 55+ communities vary widely. Rental restrictions (can you rent if you need to?), pet rules, vehicle rules (RVs, boats, commercial vehicles), and exterior modification rules. Read the rules section against your actual lifestyle plans before you commit.
The 55+ designation under the Housing for Older Persons Act (HOPA) requires 80% of occupied units to have at least one resident 55 or older and published policies demonstrating the intent to be 55+ housing. Confirm the community is actively maintaining its HOPA designation — a few communities have let this lapse, which has consequences for the community's legal standing.
The current budget tells you what things actually cost to run. If the budget is tight relative to expenses and the reserve is underfunded, a fee increase is likely coming. Ask whether fee increases have been discussed at recent board meetings — this is not always in the written disclosure but is a legitimate question to ask.
Dan is a licensed Virginia agent who has reviewed HOA packets across Northern Virginia's 55+ market. Call or text him.
Request a Consultationnova55living.com/contactDan is a licensed Virginia agent who lives and works in Prince William County. He knows these communities from the inside. Call or text him directly — no scripts, no pressure.