✏️ Editor’s Note: Realtor Associations, agents, and MLS’ have started implementing changes related to the NAR’s $418 million settlement. While home-sellers will likely save thousands in commission, compliance and litigation risks have significantly increased for sellers throughout the nation. Learn how NAR’s settlement affects home sellers.
95% of homebuyers discover issues with their properties after the closing process. 60% of sellers do not disclose defects in their homes to potential buyers. Hiding defects whether intentionally or not can lead to potential lawsuits in Arizona.
A seller disclosure is a document that informs the buyer about defects in a house. So you must fill this document accurately and honestly. It helps with offering legal protection, enhancing credibility, and reducing complications during the home inspection process.
If you wish to sell your home in the Copper State, enlist the help of a Flat Fee MLS service like Houzeo. Your home will be on the MLS in 24–48 hours. Houzeo automatically assigns the right disclosure paperwork which makes the selling process hassle-free.
- ✍️ Is Seller’s Disclosure Required in Arizona?
Yes, filling a seller disclosure form is mandatory in the state of Arizona. In Arizona, sellers must disclose property details via the Arizona Residential Seller’s Property Disclosure Statement.
What Is a Seller’s Disclosure?
A seller’s disclosure is a legal document that homeowners must give to potential buyers. It contains information about the property’s condition, history, and any known issues that could impact its value or safety.
Moreover, seller disclosure ensures transparency in real estate transactions. It also helps to minimize legal risks and attract serious buyers. Overall, It makes the selling process smoother.
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What Do Arizonians Have to Disclose When Selling Their House?
Here are the few things you have to disclose while selling a house in Arizona:
- Material Defects: This section details any leakage problems in the structure of your home. You have to mention whether your property’s HVAC, electrical, mechanical, sprinkler, or plumbing systems are up to date.
- Environmental Hazards: You should reveal if the property is located in an area prone to natural hazards. This information helps buyers assess risks associated with the property.
- Renovations and Repairs: You should disclose any renovations, repairs, or additions made to the property. It should also include details about any permits obtained for such work.
- Property History: You must disclose any known history of your house. It should include flooding, property damage, disputes over property lines, or neighborhood nuisances.
- HOA and Covenants: You should disclose relevant information about HOA rules, fees, assessments, and any ongoing disputes.
- Legal Issues: You have to disclose any pending legal actions, liens, or encumbrances. Furthermore, any disputes with neighbors or previous owners need to be disclosed.
- Other Disclosures: The SPDS may also want you to disclose other information. It includes water rights, zoning issues, easements, and boundaries.
What Do Sellers Not Have to Disclose?
You are not required to disclose the following as part of Arizona’s real estate disclosure requirements:
- Suicide or death from natural or accidental causes unrelated to the property’s condition.
- A sex offender living nearby.
- Anyone who lived on the property and had AIDS or HIV.
Arizona Laws for Seller Disclosure
In Arizona, failure to disclose necessary information can lead to legal issues. You need to disclose any swimming pool barrier disclosure on the property, as needed by Ariz. Rev. Stat. § 36-1681(E). Furthermore, you must reveal soil remediation concerns as per Ariz. Rev. Stat. § 33-434.01 & 49-701.02.
Moreover, the Arizona legislature has outlined specific situations where sellers are legally obligated to make disclosures. These include condominium details, disclosure affidavits for land in unincorporated areas, and proximity to military airports.
These legal requirements ensure transparency. It helps buyers to make an informed decisions when purchasing properties in Arizona.
Consequences of Lying on Arizona Seller’s Disclosure
You will face severe consequences if you lie on the Arizona Seller’s Disclosure Notice. Buyers receive accurate information about the property’s condition through this legal document.
If you state false information on the disclosure, the buyer may take legal action against you. The buyer could seek damages for undisclosed defects.
You may face civil penalties, including fines if you fail to disclose known defects. Furthermore, negligent misrepresentation or fraud claims may hold you liable.
Tips to Minimize Issues in Arizona Seller’s Disclosure Form
Here are the tips to save you from any legal issues:
- Complete a Pre-Sale Inspection: Before you sell your home, conduct a pre-sale home inspection. It will help you to identify and address issues. However, this will help you build trust with potential buyers.
- Review the Sales Contract Carefully: Check provisions about seller disclosure in your contract. Failure to disclose can you lead to legal issues and cause the sale to collapse.
- Document Everything: Keep records of any repairs, renovations, or maintenance done on the property. This paperwork is proof that you’ve dealt with known issues.
- Disclose Everything: To avoid problems in your home disclosure statement, disclose everything you know honestly. Even a minor issue could turn out to be important.
- Consult With Professionals: If you’re unsure about what needs to be disclosed, seek help from real estate attorneys. They are familiar with local laws and practices and can help you handle any issue.
Bottom Line
Transparency is key when filling out seller disclosure documents. It requires you to reveal known material defects in a property. However, providing false information on the form may lead to legal repercussions.
You can access all the seller disclosure forms on Houzeo. The platform has segregated all the disclosures state-wise, so you don’t have to hunt for Arizona seller disclosures separately.
» Houzeo Review: Find out why Houzeo is one of the best FSBO websites in the US.
Frequently Asked Questions
Do I have to fill out a seller's disclosure in Arizona?
Yes, sellers in Arizona are required to provide a seller's disclosure form. A seller disclosure reveals known material defects in residential properties.
Do you have to disclose a death in a Arizona house?
No. Arizona law does not mandate disclosing previous death, homicide, or suicide on the property.
How to fill out a Arizona sellers disclosure?
Sellers need to fill out the seller's disclosure notice when selling their house in Arizona. It has 19 sections through which sellers need to disclose facts and defects about the property. You need to check off all the questions and also fill a few sections of the form manually to provide additional details.
