If a buyer discovers a better property after signing a condo purchase agreement, what is her right under Virginia law?

In Virginia, once a buyer signs a condo purchase agreement, the law provides certain rights regarding the cancellation of that agreement. Specifically, the buyer has the right to cancel the contract without any penalty within a certain timeframe. This is typically designed to protect buyers, allowing them to change their minds if they find a better property after signing.

The relevant legislation often allows for a cancellation period, which is usually a few days from the date of signing. This process is meant to offer buyers peace of mind as they finalize their decision, knowing they have a window in which they can reconsider their purchase without facing financial repercussions.

While the other options suggest various conditions under which the buyer could react to finding a better property, they do not align with the protections typically afforded under Virginia law, which emphasizes the buyer’s ability to cancel without penalty during the specified period. Thus, the correct understanding is that the buyer can indeed cancel without penalty if she finds a better property within that timeframe.