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Arkansas
Seller's Disclosure Statement for Vacant Land

Arkansas Seller's Disclosure Statement for Vacant Land

Category:

Real Estate - Disclosures

State:

Multi-State

Control #:

US-03302BG

Format:

Instant download

Description

In some states, a seller is required to disclose known facts that materially affect the value of the property that are not known and readily observable to the buyer. The Seller is required to disclose to a buyer all known facts that materially affect the value of the property which are not readily observable and are not known to the buyer. That disclosure requirement exists whether or not the seller occupied the property. A
Vacant Land Disclosure Statement specifically designed for the disclosure of facts related to vacant land is used in such states.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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How to fill out Seller's Disclosure Statement For Vacant Land?

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FAQ

Technically, any CAS-covered contract of $50 million or more always requires a disclosure statement prior to the contract award. Most contractors that are not currently CAS covered when they submit such a bid, will not comply with this requirement.

Commonly, there aren't definite disclosure laws and the sale prices will only reflect on public records if the seller submits one. These states are the following: Alabama, Arkansas, Louisiana, Nevada, North Carolina, Oklahoma, Rhode Island, and Tennessee.

So, to conclude, the state of Arkansas does not require property condition disclosure by every seller; however, the majority of residential transactions in Arkansas most likely will include the seller's disclosure about certain aspects of the property.

As in all real property transactions in Arkansas, there is no disclosure statute addressing the individual owner/seller.

Under current law, the SELLER is required to disclose all known conditions that affect the health or safety of a prospective purchaser. SELLER discloses to PURCHASER that SELLER knows of no defects in the subject property, other than those deficiencies disclosed in this form.

Despite being in a "caveat emptor" state, Arkansas home sellers might want to make some disclosures to property buyers. Updated by Ilona Bray, J.D. If you're looking to sell your Arkansas home, there's you will likely face lower paperwork requirements than sellers in other states.

Arkansas Disclosure RequirementsArkansas is in the minority with its disclosure laws. Arkansas is what's called a caveat emptor state, which means the onus is generally on the buyer to find any problems with the property. However, that doesn't mean homeowners are off the hook entirely with regard to disclosures.

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