What must Tim and Tammie provide to the buyers of their home?

Tim and Tammie are required to provide a disclosure regarding the property being subject to the Virginia Property Owners' Act because it is a legal requirement in the state of Virginia. This Act mandates that sellers inform buyers about the presence of any covenants, restrictions, or rules that apply to the property within a homeowners' association or similar collective ownership setup. Providing this disclosure protects both parties and ensures that buyers are fully informed about any obligations or limitations they may face if they purchase the home.

In Virginia, the transparency mandated by the Property Owners' Act fosters trust in real estate transactions and helps buyers understand the living conditions associated with their potential new home. This inclusion is particularly important since it can affect the buyer's decision-making process.

While aspects such as proof of property tax payments, home inspection certificates, and neighborhood crime rates might be relevant in real estate transactions, they do not have the same legal requirement for disclosure as the Virginia Property Owners' Act does. Thus, making such disclosures is essential for compliance with state real estate laws.