This form is a Seller's Disclosure Statement for use in a residential sales transaction in Arizona. This disclosure statement concerns the condition of property and is completed by the Seller.
The Phoenix Arizona Residential Real Estate Sales Disclosure Statement is a crucial legal document utilized in real estate transactions within the Phoenix, Arizona area. It serves the purpose of providing potential home buyers with pertinent information related to the property they are considering purchasing, ensuring transparency and protection for both parties involved. This comprehensive statement covers various aspects of the residential property, outlining any known issues or pertinent details that may affect the buyer's decision-making process. It aims to provide a clear and accurate representation of the property's condition, history, and potential liabilities. Key areas covered in the Phoenix Arizona Residential Real Estate Sales Disclosure Statement include: 1. Property Condition: The statement discloses any known defects, damages, or issues related to the property's structure, systems (plumbing, electrical, HVAC), fixtures, and appliances. This information allows buyers to be aware of potential repair or maintenance needs. 2. Environmental Concerns: It provides information about any known environmental hazards or conditions present on the property, such as asbestos, lead-based paint, mold, radon, or underground storage tanks. This allows buyers to assess any risks associated with these hazards. 3. Legal Matters: The statement includes information regarding legal aspects of the property, such as pending lawsuits, property line disputes, easements, encroachments, or violations of zoning or building codes. This ensures that buyers are aware of any potential legal issues that may affect the property's value or use. 4. Disclosures on Flood Zones: If the property is located within a flood zone or near a floodplain, the statement will provide this information. It serves to inform buyers of potential flooding risks and the need for additional insurance coverage. 5. Previous Repairs or Renovations: The document may outline any previous repairs, renovations, or additions made to the property. It allows buyers to have a clear understanding of the property's history and potential implications of these modifications. 6. HOA or Community Restrictions: If the property is part of a homeowners' association (HOA) or governed by specific community restrictions, the statement will disclose this information. It ensures that buyers are aware of any association fees, rules, or regulations they must abide by. It is important to note that there may be variations or different types of the Phoenix Arizona Residential Real Estate Sales Disclosure Statement based on factors such as property type (single-family, condominium, townhouse), age, or specific local ordinances. The content and requirements of the disclosure statement can vary. It is advisable for buyers and sellers to work with a qualified real estate agent or attorney familiar with local regulations to ensure compliance with specific disclosure requirements.The Phoenix Arizona Residential Real Estate Sales Disclosure Statement is a crucial legal document utilized in real estate transactions within the Phoenix, Arizona area. It serves the purpose of providing potential home buyers with pertinent information related to the property they are considering purchasing, ensuring transparency and protection for both parties involved. This comprehensive statement covers various aspects of the residential property, outlining any known issues or pertinent details that may affect the buyer's decision-making process. It aims to provide a clear and accurate representation of the property's condition, history, and potential liabilities. Key areas covered in the Phoenix Arizona Residential Real Estate Sales Disclosure Statement include: 1. Property Condition: The statement discloses any known defects, damages, or issues related to the property's structure, systems (plumbing, electrical, HVAC), fixtures, and appliances. This information allows buyers to be aware of potential repair or maintenance needs. 2. Environmental Concerns: It provides information about any known environmental hazards or conditions present on the property, such as asbestos, lead-based paint, mold, radon, or underground storage tanks. This allows buyers to assess any risks associated with these hazards. 3. Legal Matters: The statement includes information regarding legal aspects of the property, such as pending lawsuits, property line disputes, easements, encroachments, or violations of zoning or building codes. This ensures that buyers are aware of any potential legal issues that may affect the property's value or use. 4. Disclosures on Flood Zones: If the property is located within a flood zone or near a floodplain, the statement will provide this information. It serves to inform buyers of potential flooding risks and the need for additional insurance coverage. 5. Previous Repairs or Renovations: The document may outline any previous repairs, renovations, or additions made to the property. It allows buyers to have a clear understanding of the property's history and potential implications of these modifications. 6. HOA or Community Restrictions: If the property is part of a homeowners' association (HOA) or governed by specific community restrictions, the statement will disclose this information. It ensures that buyers are aware of any association fees, rules, or regulations they must abide by. It is important to note that there may be variations or different types of the Phoenix Arizona Residential Real Estate Sales Disclosure Statement based on factors such as property type (single-family, condominium, townhouse), age, or specific local ordinances. The content and requirements of the disclosure statement can vary. It is advisable for buyers and sellers to work with a qualified real estate agent or attorney familiar with local regulations to ensure compliance with specific disclosure requirements.
