When must Darnell provide a written termination notice if he wishes to back out of a contract after receiving a disclosure statement?

In real estate transactions in Virginia, there are specific timelines associated with the right of rescission following the receipt of a property disclosure statement. When a buyer receives this statement, they retain the right to withdraw from the contract, but they must do so within a stipulated timeframe.

The correct answer indicates that Darnell must provide written termination before moving into the property. This aligns with the legal requirements set forth in Virginia's real estate regulations, which grant buyers the ability to reconsider their offer and cancel the contract before taking possession of the property. The rationale behind this requirement is to ensure that buyers have the opportunity to review critical details about the property's condition and make informed decisions without experiencing undue pressure.

In contrast, other timelines suggested by the options, such as specific durations like 48 hours or settlement-related deadlines, may not accurately reflect the legal framework concerning the buyer's right to terminate the agreement. It's crucial for buyers to understand this aspect of their rights, as it can impact their decision-making as they navigate real estate transactions.