Unsigned spds after closing does not state true facts, Assement on property was not on SPDS Or any place else. Other than MLS listing. Need help

Asked by Kim, Buckeye, AZ Thu May 5, 2011

Somebody please help. We can't get answers from our agent.

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Paul Welden, Agent, Scottsdale, AZ
Thu May 5, 2011
Kim -
If you received the SPDS after closing, there isn't really much that you can do. You should have required them to be delivered to you BEFORE closing. If that did not occur, then you agreed to close on the property anyways.

Even if the SPDS were delivered to you before closing and the assessment was not mentioned on them, you as the buyer are still encouraged to do your due diligence to obtain any information you think is important BEFORE you purchase the property. You cannot rely on the seller nor anyone else to "give" you information. You as the buyer need to obtain you own accurate information on the property you are buying BEFORE you buy it.

I hope I have not misunderstood your question/comment. If I have, please update me.
1 vote
Patricia Van…, Agent, Goodyear, AZ
Thu May 5, 2011
Preliminary title reports sometimes will show special assessments, liens on property if present. HOA, CCR's and Bylaws may mention assessments. Both of these documents are delivered/mailed to buyer during the escrow period. This is to be investigated during your inspection period and/or within five days of receipt of the prelim title and CCR . This also may of shown up on the settlement statement as a fee that was charged to seller or buyer or prorated at close. All of these docs would of been an indicator of assessment fee's prior to close. In addition, if it was on MLS the assessment was disclosured. How much or what for is the buyer's due dilengence to investigate. As for the SPUDs not being signed, and delivered after close? I don't know what your recourse would be. You may want to consult with AZ department of Realestate or legal council.
0 votes
Randy Hooker, Agent, Chandler, AZ
Thu May 5, 2011
I would highly recommend contaacting your agent one more time. If you do not get a timely and satisfactory response, then I would suggest you call her/his office and ask to speak with the Managing Broker or Designated Broker.

I have to agree with the other answers. An unsigned SPDS is pretty much worthless, and receiving it after closing is not approrpriate disclosure. But again, those are issues that should be discussed with your agent and/or his/her broker.
0 votes
Nicole Gomez, Agent, Glendale, AZ
Thu May 5, 2011
Unfortunetly, I would have to agree with Paul on this if you signed and closed on what you were giving there is not much that can be done. If anything I would have questioned why the SPDS were not signed, in my mind that would call for a red flag. Some homes do not offer any SPDS, which is clearly stated on the MLS. I am sorry you are going through this, hopefully this helps.
Nicole Gomez
0 votes
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