A seller in Arizona is required by law to disclose material information about the property that the seller actually and personally knows of. As a practical matter, what is meant by "material?" You are not required to disclose every little detail about the property to the buyer, down to the last scratch on the floor.
Does Arizona have a specific disclosure form for selling a home?
Unlike in some states, the Arizona legislature has not come up with a specific disclosure form that a seller must complete.
What is the Arizona Association of Realtors disclosure statement?
In an effort to assist sellers in satisfying their disclosure requirements, the Arizona Association of Realtors drafted the most commonly used disclosure form, the Residential Seller's Property Disclosure Statement (pronounced "spuds" by real estate professionals in Arizona).
What is the military airport disclosure law in Arizona?
Military airport disclosure ( Ariz. Rev. Stat. § 28-8484 ). If you violate the disclosure law by misrepresenting or not disclosing required information, the buyer may pursue legal action against you for failure to disclose, fraud, or misrepresentation (intentional or negligent).
Do I have to make all the disclosures required by law?
Many of the disclosures required by law are at times quite subjective. What we mean by this is that regulations sometimes state terms such as “important” or “material” when advising whether or not disclosures actually need to be made. If you are ever unsure, it is always best to include the disclosure anyway.
Is Arizona a non disclosure state?
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 a non-disclosure state, transaction sale prices are not available to the public.
Is Arizona a real estate disclosure state?
Arizona law requires the seller to disclose material (important) facts about the property, even if you are not asked by the buyer or a real estate agent. These disclosure obligations remain even if you and the buyer agree that no Seller's Property Disclosure Statement (“SPDS”) will be provided.
Is AZ a buyer beware state?
Caveat emptor – “buyer beware” no longer applies in Arizona.
What is the Arizona affidavit of disclosure?
Arizona Affidavit of Disclosure Information. Before a transfer of real property is finalized, Arizona law requires the seller to disclose material facts about the relevant property to the buyer in a seller's disclosure report.
Can you sell a house as is in Arizona?
Though selling property on an as-is basis in Arizona is not particularly difficult, it is not always easy to decide whether or not to make repairs to a home before listing it. When selling a house that features outdated bathrooms or an aging kitchen, investing in upgrades may well be worth the expense.
What record in Arizona is considered sufficient disclosure to owners and potential buyers of property in an airport influence area?
3 An interesting feature of the statute is that the county record of an airport influence area is deemed to be sufficient notice to owners or potential purchasers of property in the airport influence area that a property is subject to aircraft overflights and noise.
What is the most common disclosure in real estate?
Flooding issues and plumbing leaks are the most common disclosures top real estate agents say they encounter. “The biggest issue is always the plumbing leaks and the roof issues because of the recent hurricane we had last year,” Fonseca said.
What do you have to disclose when selling a house?
Key Takeaways. Property sellers are usually required to disclose negative information about a property. It is usually wise to always disclose issues with your home, whether you are legally bound to or not. The seller must follow local, state, and federal laws regarding disclosures when selling their home.
What must be included in an Arizona real estate purchase contract?
In Arizona, sellers are required to complete a real estate purchase agreement and the following disclosures in order for it to be considered legally binding:Buyer Inquiry. ... Comprehensive Loss Underwriting Exchange (CLUE). ... Swimming Pool Barrier Disclosure. ... Condo Disclosure Information. ... Notice of Soil Remediation.More items...
What disclosure form in Arizona is completed by sellers and divided into six sections that address the condition of the property?
Since that is a pretty broad statement, the Arizona Association of Realtors has created the SPDS form in an attempt to make the process as easy as possible. The disclosure form is divided into 6 general sections: Ownership and General Property Information. Building and Safety Information.
Do you have to disclose scorpions in Arizona?
In Arizona, a seller is required to disclose important material that they know about the property. If there is a scorpion disclosure on your home, you should definitely schedule a home inspection to evaluate how bad the problem is and how easily the scorpion problem can be controlled.
What do estate agents have to disclose?
So what must estate agents disclose? When it comes to estate agents legal obligations to buyers, they must disclose “fair” information to home buyers and sellers. That includes making “material information” about a property clear, unambiguous and not deliberately misleading or withholding information from buyers.
What do you have to disclose when selling a house?
Key Takeaways. Property sellers are usually required to disclose negative information about a property. It is usually wise to always disclose issues with your home, whether you are legally bound to or not. The seller must follow local, state, and federal laws regarding disclosures when selling their home.
Why is disclosure important in Arizona?
Disclosing information to the buyer of your property is an important part of the selling process. Failure to make a required disclosure could lead to further legal ramifications down the line. As requirements vary by state, it's important that you know what your obligations are in Arizona.
What is SPDS in Arizona?
The Residential Seller's Property Disclosure Statement (SPDS) is split into various sections, which we've listed below.
What is the disclosure process for selling a home?
One of the most overlooked stages of the home selling process is the requirement to make a disclosure on certain aspects of the property's physical condition. This could be for a number of things, such as whether or not repairs have been made on pipes or the condition of a private sewer system.
Do you have to disclose if someone died in the house?
You DON'T need to make a disclosure to the buyer if somebody has died in the property. This also includes serious crimes such as a homicide. You DON'T need to make a disclosure if somebody within the property, or previously living in the property, has been diagnosed with AIDS, or exposed to HIV. If you're unsure as to what disclosures you need ...
Is disclosure required by law?
What we mean by this is that regulations sometimes state terms such as “important” or “material” when advising whether or not disclosures actually need to be made.
Do state disclosure requirements vary?
The key thing to understand is that these disclosure requirements will vary on a state-by-state basis.
Do you have to disclose carpet in Arizona?
Arizona Real Estate Seller Disclosures. In the state of Arizona, you will be required to include any “important” or “material” issues to the buyer. This will not require you to report each and every defect of the property such as a stained carpet. Instead, disclosures need to be made if the disclosure in question could have an impact on ...
What is voluntary disclosure?
The Voluntary Disclosure Program serves taxpayers who wish to voluntarily report previously undisclosed liabilities for any tax administered by the department. Taxpayers may work directly with department auditors, or indirectly by way of a duly appointed representative. The program auditors facilitate the licensing, registration, ...
What happens if the agreement period overlaps with the audit period?
Taxpayers who have been contacted regarding past due liabilities by the department’s Audit District are ineligible if the agreement period will overlap with the audit period.
Why is it so difficult to classify each state?
Classifying each state in this regard is actually quite complicated because there are varying degrees and definitions of what “non-disclosure” means.
Is sold price data available to the public?
But there’s a problem—in some states around the country, this “sold price data” is not available to the general public.
What is initial disclosure in AK?
Initial Disclosure AK Depository Institution Insurance Disclosure Cx17687 (upon request) A financial institution, which sells insurance Both An extension of credit Not specified At the time of application for the extension of credit Alaska Stat. § 21.36.323 No
What is balloon disclosure in CA?
CA Balloon Disclosure Regarding Extension of Credit Cx2786 (upon request) A real estate broker (aka a licensee under Chapter 3 of the Real Estate Law) Brokers Any loan secured by a dwelling , which is subject to Cal. Bus. & Prof. Code § 10240, which also provides for a balloon payment, but not a bona fide loan that is either: (1) secured by a first trust deed with a principal amount of $30,000 or more; or (2) secured by a junior lien with a principal amount of $20,000 or more A dwelling, including a single dwelling unit in a condo or co-op or any parcel containing only residential buildings if the total number of units on the parcel is 4 or less Prior to a borrower becoming obligated on the loan Cal. Bus. & Prof. Code § 10241.4 Real Estate Law Statutory
What is CSO information statement?
Initial Disclosure CSO Information Statement UR A credit services organization (CSO) Brokers An extension of credit for consumer purposes Not specified Before execution of a contract between the CSO and the buyer or before receipt by the CSO of any consideration , whichever comes first Ariz. Rev. Stat. Ann. §§ 44-1704 & 44-1705 No
Is CX2799 a title insurance disclosure?
CA Title Insurance Disclosure Cx2799 Not specified Both An escrow transaction for the purchase or simultaneous exchange of real property Real property At the time of an escrow transaction Cal. Civ. Code § 1057.6 Statutory
Who is not required to disclose HIV information?
Except as otherwise provided pursuant to this article or subject to an order or search warrant issued pursuant to section 36-665, a person who receives HIV-related information in the course of providing a health service or pursuant to a release of HIV-related information shall not disclose that information to another person or legal entity or be compelled by subpoena, order, search warrant or other judicial process to disclose that information to another person or legal entity.
Who is not required to disclose communicable disease information?
A. A person who obtains communicable disease related information in the course of providing a health service or obtains that information from a health care provider pursuant to an authorization shall not disclose or be compelled to disclose that information except as authorized by state or federal law, including the health insurance portability ...
What is an industrial commission in Arizona?
A person, health care provider or health facility to which disclosure is ordered by a court or administrative body pursuant to section 36-665. 12. The industrial commission or parties to an industrial commission of Arizona claim pursuant to section 23-908, subsection D and section 23-1043.02. 13.
What is a federal, state, county or local health officer?
9. A federal, state or local government agency authorized by law to receive the information. The agency is authorized to redisclose the information only pursuant to this article or as otherwise permitted by law. 10.
What is an authorized employee?
An authorized employee or agent of a federal, state or local government agency that supervises or monitors the health care provider or health facility or administers the program under which the health service is provided. An authorized employee or agent includes only an employee or agent who, in the ordinary course of business ...
Who discloses HIV related information?
B. At the request of the department of child safety or the department of economic security and in conjunction with the placement of children in foster care or for adoption or court-ordered placement, a health care provider shall disclose communicable disease information, including HIV-related information, to the department of child safety or the department of economic security.
Who signs an authorization to release communicable disease related information?
An authorization to release communicable disease related information shall be signed by the protected person or, if the protected person lacks capacity to consent, the protected person 's health care decision maker.
How long is a broadcast disclaimer required?
Broadcast on TV, video or film: (i) both written and spoken at beginning or end, except that spoken disclaimer is not required if written display is for greater of at least one-sixth of broadcast duration or 4 seconds, and (ii) written disclosure letters are required to be in a height of at least 4% of vertical picture height.
What does a disclaimer need to spell out?
If a disclaimer contains an acronym or nickname that is not commonly known, the disclosure must also spell out the acronym or provide the full name.
Is public records still being processed?
Public records requests are also still being fulfilled, however it may take longer than usual to process.
