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Trulia Phoen…, Home Buyer in Phoenix, AZ

What is a home seller legally obligated to disclose about their home?

Asked by Trulia Phoenix, Phoenix, AZ Thu Jan 31, 2013

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6
Sonny Shrivastava’s answer
A seller is legally obligated to disclose anything about the property that could be a material concern to the buyer. The Arizona Association of Realtors® (AAR) has a Seller's Property Disclosure Statement ("SPDS") for just this purpose. However, the seller's duty to disclose goes beyond this document and extends to anything that the seller or their agent might feel would be a "material concern" for the buyer.

The general rule is disclose, disclose, disclose. If you as the seller have to ask yourself, "should I disclose this to the buyer", the answer is almost always YES. It cannot hurt you to over disclose, but you can definitely be held accountable for not disclosing something that would have been important for the buyer to know.

Per Arizona statute, neither a seller nor their agent has a legal duty to disclose the following: (1) the site of a natural death, suicide, homicide, or any crime classified as a felony; (2) owned or occupied by a person exposed to HIV, or diagnosed as having AIDS or any other disease not known to be transmitted through common occupancy of real estate; or (3) located in the vicinity of a sex offender.
1 vote Thank Flag Link Thu Jan 31, 2013
The first sentence of the the Seller Disclosure Statement states "Sellers are obligated by law to disclose all known material (important) facts about the Property to the Buyer". And the cover page has a sentence that states "when in doubt, disclose".

Material facts are facts about the property that may impact buyers decision to purchase the property.

JOSE DIAS, REALTOR
(623) 418-5700
JOSE@MYFIRSTHOUSEAZ.COM

http://WWW.MYFIRSTHOUSEAZ.COM
0 votes Thank Flag Link Fri Feb 1, 2013
Material Facts that any reasonable buyer would want to know in order to make a decision on the purchase of the property.
0 votes Thank Flag Link Thu Jan 31, 2013
Sellers are obligated by law to disclose all known material facts about a property to the buyer. Arizona law requires that a seller disclose material facts about the property whether or not they are asked by the buyer, the real estate agent, or when asked to complete a disclosure form.

There are also some specific disclosures that a seller is required by statute to make for example, lead based paint for homes built prior to 1978 or if the property is in the vicinity of a military or public airport.

The AAR SPDS is designed to help answer what should be disclosed if known. The SPDS has six main categories: Ownership and Property, Building and Safety Information, Utilities, Environmental Information, Sewer/Wastewater Treatment, and Other Conditions and Factors.
0 votes Thank Flag Link Thu Jan 31, 2013
All latent defects and issues you are personally aware of. Shoot me an email at teddyshonka@gmail.com with anymore wuestions
0 votes Thank Flag Link Thu Jan 31, 2013
If you have had problems in the past put it in the Sellers Property Disclosure.
If the finad out later that you were hiding somthing they could come back after you for not disclosing it.
I tel my sellers to disclose, disclose.
0 votes Thank Flag Link Thu Jan 31, 2013
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