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Which disclosures are needed in sales with vacant land?

Vacant land is exempt from the transfer disclosure statement (TDS) that the California Civil Code requires for sales of residential property. However, the seller is still required to disclose any and all known facts that materially affect the value or desirability of the property.

What do you need for a real estate disclosure in Wisconsin?

The seller must complete a Real Estate Condition Report and answer the property condition questions as well as provide additional information based on personal knowledge of the property. A copy of the completed report must be given to prospective buyers no later than 10 days after a purchase contract is accepted.

When it comes to vacant land in Wisconsin, whats your duty related to inspection?

A licensee, when engaging in real estate practice that involves vacant land, shall, if the vacant land is accessible, conduct a reasonably competent and diligent inspection of the vacant land to detect observable material adverse facts.

What are most seller property disclosures required for?

Sellers are required to disclose property information to the realtor and potential buyers based on state and local laws. A disclosure document details a propertys condition and what might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime.

Can you sue a previous homeowner for non-disclosure in Wisconsin?

A property buyer who comes across issues after they claim ownership of the property may seek damages from the seller. But, the burden of proving that the previous owner knew about the issues and chose not to disclose them can make the situation complex. Situations that muddy the waters of proof are outlined below.

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