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A seller must disclose certain known issues to the property and you may be able to show that that mandatory disclosure was not made. If that is the case you should be able to set aside the contract and recover your deposit. While it is generally a buyer's responsibility to inspect a property before purchase, any known defect as severe as mold could give you grounds to void the contract if the seller had knowledge.
Further, there are provisions of the Virginia Landlord Tenant Act that are similar to the old common law implied warranty of habitability. While Virginia does not recognize an implied warranty of habitability in the landlord tenant relationship, there are numerous provisions that serve to protect tenants from unconscionable lease provisions and being stuck with mold. There are also provisions that give a tenant the right to have the landlord clean and correct the mold issue (if possible).
Basically you need to review your contract with a local attorney and explore your options. I do think you have a potential action here and it is definitely worth seeking a local lawyer to work with. If you do not have the means to hire an attorney, legal aid offices will often work with tenants concerning these issues.
Please reply if I can help further.
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