In this section, “FEMA elevation certificate” has the meaning stated in § 5–810 of the Environment Article. This section applies only to residential real property improved by four or fewer single family units. This section does not apply to: The initial sale of a single family residence that: Has never been occupied; or A certificate of occupancy has been issued for within 1 year before the date on which the vendor and purchaser enter into a contract of sale; A transfer of property that is exempt from the transfer tax under § 13–207 of the Tax – Property Article, except: A land installment contract of sale; or An option to purchase real property; A sale by a lender, or an affiliate of a lender, that acquired the real property by foreclosure or deed in lieu of foreclosure; A sheriff’s sale, tax sale, or sale by foreclosure, partition, or court–appointed trustee; A transfer by a fiduciary in the course of administering a decedent’s estate, guardianship, conservatorship, or trust; A transfer of a single family residential real property that the buyer will convert into a use other than residential; or A sale of unimproved real property. Beginning July 1, 2027, before entering into a contract of sale, a vendor of residential real property shall provide to the purchaser: A completed flood risk disclosure statement form developed and published by the Department of the Environment under § 5–810 of the Environment Article; and If available, a copy of the FEMA elevation certificate for the property.