A developer must file, with the Real Estate Board, a bond that covers what percent of the estimated cost of completion?

The correct answer is 100%, which indicates that a developer must file a bond with the Real Estate Board that covers the full estimated cost of the project's completion. This requirement serves as a protective measure to ensure that sufficient funds are available to complete the construction or project as initially planned. By mandating a bond that covers the entire estimated cost, the Real Estate Board safeguards the interests of buyers and investors, ensuring that they are not left without recourse should the developer default or fail to complete the project. This regulation is critical in maintaining trust and reliability in the real estate development process, as it provides a financial assurance that the project will be finished.

In Virginia, the strict bond requirement emphasizes the commitment developers must have toward their projects and reinforces the notion that they should be financially accountable for their undertakings.