This Seller's Disclosure Notice of Financing Terms Contract for Deed serves as notice to Purchaser of the purchase price of property and how payments, interest, and late charges are set. This document should be completed by Seller of property and provided to the Purchaser at or before the signing of the contract for deed.
Salt Lake Utah Seller's Disclosure of Financing Terms for Residential Property in connection with Contract or Agreement for Deed a/k/a Land Contract
Category:
State:
Utah
County:
Salt Lake
Control #:
UT-00470-3
Format:
Word;
Rich Text
Instant download
Description
How to fill out Utah Seller's Disclosure Of Financing Terms For Residential Property In Connection With Contract Or Agreement For Deed A/k/a Land Contract?
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FAQ
The current list of non-disclosure states includes Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah, and Wyoming.
Must-have contract financing terms such as loan payment amounts, interest, taxes, insurance, and additional fees....Spell out the big numbers: How much are you willing to lend? The agreed-upon sales price. The non-refundable deposit amount. The remaining loan balance.
For a sale to close properly in Utah, the seller must, legally, disclose certain conditions about the home to the prospective buyer. No seller wants to face legal repercussions for inadequately disclosing property defects.
In Utah, sellers do not have to disclose up front if a felony crime or death, violent or natural, took place at the home.
Texas, Alaska, Missouri, Louisiana and Mississippi, in addition to Utah and Idaho, are considered non-disclosure states, potentially costing those states millions of dollars in property taxes and giving players in the real estate market a monopoly on information.
But, there are 12 states that are still considered ?non-disclosure:? Alaska, Idaho, Kansas, Louisiana, Mississippi, Missouri (some counties), Montana, New Mexico, North Dakota, Texas, Utah and Wyoming.
In Utah, a seller can get out of a real estate contract if the buyer's contingencies are not met?these include financial, appraisal, inspection, insurance, or home sale contingencies agreed to in the contract. Sellers might have additional exit opportunities with unique situations also such as an estate sale.
Any ongoing problems with neighbours, including boundary disputes. Any neighbours known to have been served an Anti Social Behaviour Order (ASBO) Whether there have been any known burglaries in the neighbourhood recently. Whether any murders or suicides have occurred in the property recently.
