[Code of Federal Regulations]
[Title 24, Volume 5]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR1710.107]

[Page 29-30]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
 CHAPTER X--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 
 COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (INTERSTATE 
                    LAND SALES REGISTRATION PROGRAM)
 
PART 1710_LAND REGISTRATION--Table of Contents
 
                    Subpart B_Reporting Requirements
 
Sec.  1710.107  Risks of buying land.

    (a) The next page shall be headed ``Risks of Buying Land'' and shall 
contain the paragraphs listed below. However, paragraph (a)(2) of this 
section may be omitted if all improvements have been completed or if no 
improvements are proposed.
    (1) The future value of any land is uncertain and dependent upon 
many factors. DO NOT expect all land to increase in value.
    (2) Any value which your lot may have will be affected if the roads, 
utilities and all proposed improvements are not completed.
    (3) Resale of your lot may be difficult or impossible, since you may 
face the competition of our own sales program and local real estate 
brokers may not be interested in listing your lot.
    (4) Any subdivision will have an impact on the surrounding 
environment. Whether or not the impact is adverse and the degree of 
impact, will depend on the location, size, planning and extent of 
development. Subdivisions which adversely affect the environment may 
cause governmental agencies to impose restrictions on the use of the 
land. Changes in plant and animal life, air and water quality and noise 
levels may affect your use and enjoyment of your lot and your ability to 
sell it.

[[Page 30]]

    (5) In the purchase of real estate, many technical requirements must 
be met to assure that you receive proper title. Since this purchase 
involves a major expenditure of money, it is recommended that you seek 
professional advice before you obligate yourself.
    (b) Warnings. If the instructions or the Secretary require any 
warnings to be included in the Property Report portion, the following 
statement shall be added beneath the ``Risks of Buying Land'' under a 
heading ``Warnings'':

    ``Throughout this Property Report there are specific warnings 
concerning the developer, the subdivision or individual lots. Be sure to 
read all warnings carefully before signing any contract or agreement.''


Both the heading, ``Warnings'', and the statement shall be printed in 
capital letters and enclosed in a box.