Selling Your Home
Buying or selling a home is one of the biggest investments in a person’s life. The Association strives to make the process as convenient as possible for both buyers and sellers with an understanding of Homeowner Association policies and procedures.
Virginia Property Owners’ Association Act (POA)
Residents who are part of a Homeowners Association in the Commonwealth of Virginia are required to abide by the Virginia Property Owners’ Association Act (POA). Part of this process involves the acquisition of a Disclosure Packet in the process of buying or selling a home.
POA Disclosure Packet
In order to put a house on the market, the seller must obtain a POA Disclosure Packet by completing a POA Disclosure Packet Request Form. This packet contains important information to be passed on to the purchaser of the property. It can be requested in either paper or electronic format and can be expedited for an additional fee.
|FORMAT||COPIES||PACKET FEE||INSPECTION FEE||TOTAL|
|Electronic (PDF)||up to 5||$146.70||$117.30*||$264.00|
*Inspection fee does not apply to Condos or East Lake Ridge properties
Expedited Service - provided within 5 business days | $58.60
Additional Copies (5+) - $29.30 each
Fees will be collected at settlement. If settlement does not occur within 60 days of delivery of the POA Disclosure Packet, the fees become the personal obligation of the property owner and are due immediately.
- Association’s Name ("Lake Ridge Parks and Recreation Association")
- Pending Assessments
- Expenditures of Funds
- Statement of Fees Including Assessments
- Current Reserve Study Report
- Current Budget
- Notice of pending Lawsuits against the Association
- Insurance Coverage Information
- Rules and Regulations
- Minutes from Board of Director or Association Meetings for Past 6 Months
- Statement whether or not the Lot and House are in Violation of the Association, etc.