This form is used to record the selling price, date of sale and other required information about the sale of property. Learn how this exclusive program can help you.All property sales transaction require a completed affidavit or an exemption number. Arizona requires sellers to disclose basic information, like how long you've owned the property, plus detailed specifics about the property. The following is a checklist of helpful hints for consumers to help avoid some of the pitfalls of purchasing a new or used home, or raw, undeveloped land. Check tax assessments; 2. My property should have agricultural classification but received a Notice of Value at market rates. Every real estate seller working in Arizona has a legal obligation to reveal relevant details about a residential property to prospective buyers. A transfer tax is a transaction fee some states tack onto the sale of land or real property, like a home. How much are closing costs in Arizona?