Considering the purchase or sale of AZ real estate? Whether for the 1st time or 10th time … Read this Advisory
Sellers should also read this Advisory
At least once a year, I post about this fantastic publication. It’s just that good and that important … and it’s updated regularly by the AAR … the Arizona Association of Realtors®. Click this link to immediately download a PDF copy … Buyer-Advisory-2020
Section 1 COMMON DOCUMENTS A BUYER SHOULD REVIEW
2 MLS Printout … The MLS printout is similar to an advertisement … and could be inaccurate, incomplete or an approximation.
4 Seller’s Property Disclosure Statement (SPDS) …a buyer should carefully review and verify statements of concern.
17 Foriegn Investment in Real Property Tax Act (FIRPTA) … if the legal owner(s) of the property are foreign persons … mandatory withholding may apply.
Section 2 COMMON PHYSICAL CONDITIONS IN THE PROPERTY A BUYER SHOULD INVESTIGATE
2 Square Footage … Square footage on the MLS printout or as listed by the county assessor’s records … should not be relied on for the exact square footage for the property.
4 Swimming Pools and Spas … investigate all applicable state, county and municipal … barrier regulations. Local ordinances … may be more restrictive than state requirements.
8 Soil Problems … The soil in some areas of Arizona … are “expansive … or subject to fissure, subsidence or other conditions … that could cause major problems. If the property may be subject to any such soil problems … get an assessment by a properly qualified professional engineer.
There are two other sections to this Advisory regarding “The Area Surrounding the Property” and “Other Methods to Getting Information”
All of the sections have multiple links to more specific information.