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According to both federal law and Arizona law, a home seller is required to disclose material information and material defects about their home to a potential buyer prior to a sale. These disclosure obligations must be met to have a successful real estate transaction based on the seller's actual knowledge.
What needs to go on the seller's property disclosure statement? Throughout this article, we will discuss what exactly a seller has to disclose on their disclosure form and the Arizona specific disclosure form required by Arizona law.
When buying a residential property or other form of real estate, a buyer will look to these disclosure forms to make an informed decision before submitting a purchase contract.
The Arizona Association of Realtors has specific guidelines and disclosure affidavit that sellers must meet. In addition to federal requirements for disclosure, the Arizona Association of Realtors has its own safety information and environmental information that is part of the disclosure
requirements. Arizona law requires the following to be disclosed:
The above specific information is only needed in Arizona. A seller will also be responsible for known problems and defects on a federal level as well.
On a federal level, sellers also have to answer or disclose a variety of information and various features of the property on the property disclosure statement spds.
Real estate agents and real estate attorney professionals will tell you to disclose as much information as possible and answer honestly at all times. However, you still don't have to disclose the following information if a buyer asks.
If you have any questions about what to disclose as a seller in accordance with Arizona real estate law, it's best to reach out to a trusted local professional.
For more information on what you should and shouldn't disclose when selling a house, please check out our blog.
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