Disclosure Obligations When Selling In Arizona

In Arizona, a seller is required by law to inform the potential purchaser about the property’s physical condition. This is usually done with a written disclosure statement and allows the potential purchaser to make an informed condition regarding the condition of the property. Read on to learn more. 

What Needs Disclosing

You are not required to disclose every little detail about the property to the buyer, down to the last scratch on the floor. Some issues known as material issues are those that have an impact on the value of the property, the buyer’s decision to purchase, or use of the property. 

You are not required to expand your knowledge of the property’s possible problems by performing any investigation of the property, and nor are you responsible for reporting issues that you “should have known,” but didn’t.

Your purchase agreement with the buyer will most likely require that you provide a disclosure statement. For example, you must let the buyer know about past termite damage even if the buyer does not ask about it. 

Disclosure Changes

If information you provided to the buyer changes after you’ve given him or her the disclosure form, you have a duty to disclose the new information. Reasonable minds might differ as to what property information is important, and therefore required to be disclosed. 

What Information an Arizona Seller Doesn’t Need to Disclose

As stated above, a good rule to follow is to disclose all material property issues to the buyer. There is some information, however, that a seller does not legally have to disclose, such as:

• Whether the property is located in an area with a sex offender. (Buyers can look up this information online, using the Arizona Department of Safety sex offender database.)
• Whether the property was previously owned by someone diagnosed with AIDS, exposed to HIV, or diagnosed with any other disease not known to be transmitted through occupancy.
• Whether a suicide, natural death, murder, or any other felony was committed at the property.

(See Ariz. Rev. Stat. § 32-2156.)

Source: https://www.nolo.com/legal-encyclopedia/arizona-home-sellers-disclosures-required-under-state-law.html

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