A snapshot of the bills YOUR Government Relations Team is focusing on in the 2025 General Assembly Session

Bill Name

Updated Resale Certificate Language

Virginia REALTORS^®’ Stance

Virginia REALTORS^® supports this bill.

What Does This Bill Mean for REALTORS^®?

This bill would require resale certificates to include a notice informing potential buyers that the governing documents may hold homeowners responsible for paying part or all of the association’s insurance deductible when filing a claim. Many condo buyers are unaware that if they file a claim with their homeowners insurance, they could also be responsible for the association’s deductible—which can often be tens of thousands of dollars. This legislation aims to increase transparency, helping buyers make informed decisions and avoid unexpected financial burdens.

Getting it Across the Finish Line

After hearing firsthand accounts from REALTORS® about clients facing unexpected, high association deductible bills, YOUR Virginia REALTORS® Government Relations Team engaged with key stakeholders to develop legislation aimed at increasing transparency for home buyers. This bill, designed to help REALTORS® and their clients make more informed decisions, passed unanimously in both the House and Senate.

Want to learn more about Virginia REALTORS®’ advocacy efforts on behalf of YOUR business? Visit our website for more information.