Get the free Vacant Land Disclosure Statement - Realtor's Land Institute

VACANT LAND DISCLOSURE STATEMENT Date:, 20 Page of These sellers' disclosure statement concerns the real property located in the City of, County of, State of, described as NOTICE TO SELLER: Each Seller

How to fill out vacant land disclosure statement

How to fill out vacant land disclosure statement

1. To fill out the vacant land disclosure statement, follow these steps:
2. Start by downloading the vacant land disclosure statement form from a reliable source.
3. Read the instructions on the form carefully to understand the information required.
4. Begin by entering the details of the property for which the disclosure statement is being filled out. This includes the address, legal description, and any unique identifiers such as parcel number or zoning information.
5. Next, provide information about the physical features of the land, such as its topography, drainage, and any natural hazards like flood zones or environmental concerns.
6. Indicate if there are any easements or encroachments on the property that could affect its use or development.
7. Disclose any known utility connections or accessibility to water, sewage, electricity, or gas services.
8. If there are any existing structures or improvements on the land, describe them in detail and mention their condition.
9. Provide information about any past or current land use activities, such as farming, mining, or logging.
10. If there are any legal restrictions, covenants, or conditions that affect the land, disclose them appropriately.
11. Finally, sign and date the disclosure statement, and if required, have it witnessed or notarized.
12. Make sure to review the completed form for accuracy and completeness before submitting it.
13. It is advisable to consult with a real estate attorney or professional for guidance in completing the vacant land disclosure statement.

Who needs vacant land disclosure statement?

1. Various parties may need a vacant land disclosure statement, including:
2. - Property sellers: Sellers are typically required to provide a vacant land disclosure statement to potential buyers as part of the real estate transaction process. This allows buyers to make informed decisions based on the disclosed information about the land.
3. - Real estate agents: Agents representing the seller or the buyer may need the vacant land disclosure statement to ensure compliance with legal and ethical obligations. They may assist in completing or reviewing the form.
4. - Buyers: Potential buyers who are interested in purchasing vacant land may request a disclosure statement to evaluate the suitability and potential risks associated with the property.
5. - Lenders: Financial institutions providing loans for land purchases may require a vacant land disclosure statement to assess the property's value and potential risks.
6. - Legal professionals: Attorneys handling real estate transactions or disputes may use the disclosure statement as a legal document for negotiations, agreements, or litigations.

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What is vacant land disclosure statement?

A vacant land disclosure statement is a legal document that provides potential buyers with information regarding the condition, zoning, and any applicable restrictions of a parcel of vacant land.

Who is required to file vacant land disclosure statement?

Typically, sellers of vacant land are required to file the vacant land disclosure statement before completing the sale to inform buyers about important land-related issues.

How to fill out vacant land disclosure statement?

To fill out a vacant land disclosure statement, sellers must provide detailed information regarding the property's location, zoning, environmental conditions, and any known issues or encumbrances.

What is the purpose of vacant land disclosure statement?

The purpose of the vacant land disclosure statement is to ensure that potential buyers are adequately informed about any issues, restrictions, or disclosures relevant to the property before completing a sale.

What information must be reported on vacant land disclosure statement?

Information that must be reported includes property boundaries, zoning classifications, environmental concerns, easements, and any known defects or limitations associated with the land.