Disclosures

Disclosure is a very important part of any Arizona real estate transaction. By law, a seller must disclose certain information about the property to the buyer. The seller will make these disclosures to the buyer using two different forms.

Seller’s Property Disclosure Statement (SPDS): This form gives sellers an opportunity to tell as much as they know about the property, including:

• Improvements or repairs done on the property, including additions and/or renovations, whether or not they were performed by a licensed individual, and if permits were obtained.
• Utility companies, including electric, gas, cable, and phone.
• Heating, cooling, plumbing, and electrical information, including whether the home gets water from a well or public source and if the home is attached to a septic system or sewer.
• Problems with the property, including pests, toxic chemicals, noise, floods, soil settling, as well as any other pertinent issues that affect the usability of the property.
• Homeowners Association contact information and fees, if applicable.

NOTE: For those of you who are new to Arizona, do not be alarmed if a seller discloses to you that they have seen scorpions, bees, snakes, or other reptiles and/or pests on their property. Newer developments often experience more pests while construction is going on or depending on the weather, and chances are that these pests are not going to be a regular occurrence if proper measures are taken.

Lead Based Paint Disclosure:

If the home was built prior to 1978, the Environmental Protection Agency (E.P.A) requires that sellers must complete information about their knowledge (if any) of lead-based paint in the home and the buyers must also sign it to acknowledge the disclosure. If you are purchasing a home which was built in this era, Sarah will give you a pamphlet called, “Protecting Your Family from Lead in Your Home.” Lead based paint is mostly of concern to families with small children, as (strangely as it sounds) children have been known to ‘lick the walls.’ Most sellers do not have knowledge of this type of paint being in their home, but it is required none-the-less.

Additionally, buyers are also required to make disclosures in a real estate transaction. The Arizona court case of Lombardo vs. Albu affirms that a buyer, and the buyer’s agent, have obligations to disclose pertinent facts about the buyer’s ability to perform in the transaction. For these reasons, it is imperative that you have the professional representation of a qualified real estate agent.