By Eric Berman, REALTOR® | The Eric Berman Team at Compass
 

TL;DR:

Two things a Long Island seller should understand before assuming this is an affordability move. Virginia is effectively two markets — the Northern Virginia counties near Washington are not cheaper than Nassau County, while Richmond, Virginia Beach, and most of the rest of the state genuinely are. And the seller disclosure works backwards from New York's: where the PCDS asks 56 questions about what a seller knows, Virginia's form principally notifies the buyer that the seller makes no representations and that due diligence is theirs. Buying there means inspecting harder, not reading a fuller disclosure.

Start With the Long Island Sale

The transaction that sets the budget happens here, and at 300 to 400 miles this move is close enough that people are tempted to overlap the two. It rarely works.

Before touring anything, know what the current home nets — commission, New York State Transfer Tax at four dollars per thousand, attorney fees generally $1,500 to $3,500, preparation, and carrying costs. The full breakdown of what a Long Island sale costs covers each line.

A seller who establishes Virginia residency before the Long Island closing becomes a New York nonresident for that transaction, triggering Form IT-2663 — an estimated payment at closing of 8.82 percent of net gain. A prepayment rather than an additional tax, refundable where the real figure comes in lower, but it reduces the wire.

For a long-held home, the exclusion covers $250,000 single and $500,000 filing jointly, and improvement records reduce taxable gain substantially. The full treatment of how gain is calculated covers the mechanics.

Virginia Is Two Markets

Most relocation content describes Virginia as affordable. That's true of most of the state and not true of the part most Long Island buyers are actually looking at.

Northern Virginia — Arlington, Alexandria, Fairfax, Loudoun, and the surrounding counties — is expensive. It's anchored to the Washington employment market, and housing costs there are not a step down from Nassau County. A household relocating for a D.C.-area position and expecting the savings that relocation articles describe will be surprised.

The rest of the state is a different picture. Richmond, Virginia Beach, Charlottesville, and the broader Commonwealth offer genuinely lower housing costs, and the affordability case holds.

Property taxes work the same way. Virginia assesses at fair market value with rates set by each locality, and the rates are generally well below Nassau County's. But a low rate on a Northern Virginia value produces a different bill than the same rate in Richmond. Pull the actual current tax bill for any specific property rather than reasoning from a state average.

One item a New Yorker won't anticipate: Virginia localities levy an annual personal property tax on vehicles. It's modest relative to a housing decision and it's genuinely unfamiliar — being taxed each year on a car you already own has no New York equivalent.

The Disclosure Works Backwards

This is the sharpest process contrast a Long Island seller will encounter, and it's worth understanding before making an offer.

New York's Property Condition Disclosure Statement asks the seller what they know — 56 questions covering systems, structure, and history, mandatory since the March 20, 2024 amendment, with a seller who conceals a known condition exposed to liability that survives closing. The full treatment of what the form asks covers it.

Virginia's residential property disclosure does close to the opposite. Rather than requiring the seller to describe the property's condition, the statement principally advises the buyer that the seller makes no representations, and that the buyer should exercise due diligence and obtain whatever inspections and investigations they consider necessary.

Virginia operates largely on caveat emptor, and its disclosure form says so.

Two consequences for a buyer arriving from New York.

Inspect harder. The information a New York buyer receives in a completed PCDS simply isn't provided. Whatever a buyer wants to know about condition, systems, or history, they have to discover.

Adjust the mental model. A New Yorker who has just completed a 56-question form about their own house may assume the seller on the other end has done something similar. They haven't.

There are specific disclosures Virginia does require in defined circumstances, and a buyer's settlement agent or attorney can identify what applies to a particular transaction.

Buying and Selling Mechanics

Virginia uses settlement agents rather than requiring attorneys. A settlement company handles the closing and coordinates title, and attorneys can serve in that role but aren't mandatory on either side. A buyer who wants legal review retains counsel separately.

That's a real adjustment from New York, where contract drafting and negotiation are reserved to licensed attorneys and the seller's attorney runs the closing. The fuller picture of what the attorney handles here describes what you'd be giving up.

Inspections frequently happen before ratification rather than during a post-contract contingency window. That compresses the buyer's timeline and means arriving prepared matters more.

Virginia's transfer taxes are split between the parties, and the portion known as the grantor's tax is paid by the seller. That doesn't affect a purchase — it affects the eventual sale, and it's worth knowing before buying into it, particularly for anyone with a short horizon.

Homeowners' and property owners' association purchases come with a disclosure packet, and after receiving it the buyer has a defined period in which they may cancel the contract. New York has nothing equivalent. Two practical points: read the packet rather than filing it, since reserve position and assessment history determine what ownership actually costs — and note that the window runs from delivery.

Practical Logistics

Three to four hundred miles, depending on destination — the shortest move in this series and genuinely manageable. Mid-distance movers handle it, and a seller can reasonably visit during a search.

That proximity creates a temptation worth resisting. Because the distance is drivable, households consider buying before selling. Carrying both properties still runs $12,000 to $16,000 monthly combined at Long Island price points, and it still pressures the sale. Selling first produces clean funds and an offer with no contingency.

Climate is warmer and more temperate, with hot humid summers and mild winters. Coastal areas including Virginia Beach and the Hampton Roads region carry hurricane exposure, and flood insurance questions there deserve the same scrutiny as waterfront anywhere — zone designation, claim history that attaches to the address, and elevation certificates.

Most of the state is car-dependent. Northern Virginia has Metro access in parts, with coverage and commute times varying substantially. Test the commute at the hour it would actually happen.

A Worked Example

Consider a composite case — a Nassau County household relocating for a Northern Virginia position, selling a colonial that comped near $1,100,000.

Their first correction was the cost assumption. They had read that Virginia was substantially cheaper and discovered that in the counties near their office it wasn't. That reframed the search from "how much more house" to "what works within the same budget," which was a better question than the one they'd started with.

Their second was the disclosure. Expecting something like the form they'd just completed on their own house, they received a statement telling them the seller made no representations. They responded by ordering a more thorough inspection than they otherwise would have, which turned up an aging HVAC system nobody had mentioned because nobody was required to.

They also learned about the grantor's tax, which mattered because the position had a defined term.

On the New York side they sold first, despite the drivable distance. Their attorney's early title review found an unclosed 2013 permit, resolved in six weeks before listing.

Where to Start

Build the net-proceeds model on the Long Island home and sell first, even at this distance. Call the town or village building department about permits. Engage a New York real estate attorney early and talk to a CPA about IT-2663 and capital gains before setting a closing date.

On the Virginia side: figure out which Virginia you're moving to, because the cost picture differs enormously between Northern Virginia and the rest of the state. Pull actual tax bills on specific properties. Expect the disclosure to disclaim rather than disclose, and budget for a more thorough inspection accordingly. Ask about the grantor's tax at eventual resale. Read any association packet and note the cancellation window. And decide whether you want your own counsel, since a settlement agent isn't one.

Sellers wanting a current read on where their Long Island home sits can start with a quiet look at present value.

The Honest Bottom Line

Virginia is a genuinely good destination for a Long Island household, and the affordability case is real — for most of the state. In the Northern Virginia counties, where most relocating New Yorkers are actually headed for work, it isn't. Knowing which Virginia you're moving to is the first useful thing.

The other is the disclosure inversion. Coming from a state where a seller answers 56 questions under penalty of liability, to one where the equivalent form tells the buyer to look after themselves, is a real shift — and the correct response is a more thorough inspection rather than a leap of faith.

For anyone working through what their Long Island home would net before any of that begins, that conversation is available whenever the timing suits.

This is general information, not legal, tax, or financial advice. Virginia disclosure requirements, transfer taxes, association disclosure and cancellation rights, and locality tax rates vary and change. Confirm current specifics with a Virginia attorney or settlement agent and the relevant locality, and confirm New York specifics with a licensed New York real estate attorney and a CPA.

FAQs

Is Virginia cheaper than Long Island?

Most of it, yes — and not the part most relocating New Yorkers are looking at. Northern Virginia, anchored to the Washington employment market, is expensive and not a step down from Nassau County. Richmond, Virginia Beach, Charlottesville, and the broader Commonwealth genuinely are cheaper. Property taxes follow the same pattern: Virginia assesses at fair market value with locality-set rates well below Nassau's, but a low rate on a Northern Virginia value produces a very different bill than in Richmond. Pull the actual tax bill on a specific property.

How is Virginia's seller disclosure different from New York's?

It works close to the opposite way, and it's the sharpest process contrast in a move like this. New York's Property Condition Disclosure Statement asks the seller 56 questions about what they know, with liability for concealing a known condition surviving closing. Virginia's residential property disclosure principally advises the buyer that the seller makes no representations and that due diligence is the buyer's responsibility. Virginia operates largely on caveat emptor. The practical response is to inspect more thoroughly, since the information simply isn't provided.

Does Virginia require an attorney to buy a home?

No. Virginia uses settlement agents — a settlement company handles closing and coordinates title, and while attorneys can serve in that role, none is required on either side. A buyer who wants legal review retains counsel separately and pays for it. That's a real adjustment from New York, where contract drafting and negotiation are reserved to licensed attorneys. Inspections in Virginia also frequently occur before ratification rather than during a post-contract contingency window, which compresses the buyer's timeline.

What is Virginia's grantor's tax?

Part of how Virginia splits transfer taxes between the parties, with the grantor's portion paid by the seller. It doesn't affect a purchase — it affects the eventual sale, which makes it worth knowing before buying in, particularly for anyone who may not stay long. Rates are set by statute and locality and change, so confirm current figures with a Virginia settlement agent or attorney rather than relying on any article.

What should I know about Virginia HOAs?

That the disclosure packet comes with a cancellation right. Virginia requires sellers in a homeowners' or property owners' association to provide the buyer with a packet covering governing documents, financial information, and assessments — and after receiving it the buyer has a defined period in which they may cancel the contract. New York has nothing equivalent. Read the packet rather than filing it: the reserve position and assessment history determine what ownership actually costs, and the window runs from delivery.

By Eric Berman, REALTOR® | The Eric Berman Team at Compass

Eric Berman | Long Island & Queens Associate Broker | Compass
1468 Northern Blvd, Manhasset, NY 11030
(917) 225-8596 | eric@ericbermanre.com | theericbermanteam.com