WHEN IN DOUBT - DISCLOSE! This is what you will find at the top of the Residential Seller Disclosure Advisory
Never have truer words been spoken. It doesn't matter if the buyer and seller agree that the Seller's Property Disclosure Statement ("SPDS") is not needed! This document is still in effect.
What does it say? You can click on the blue link at the top to see the actual document. Here I will highlight a few points.
Arizona law requires the seller to disclose material (important) facts about the property. Even if you the seller and the buyer agree a SPDS is not needed. Agreeing the SPDS is not needed does not free the seller if the buyer finds an important fact after the close. They
can bring legal action against the seller.
The SPDS is designed to make it easy for the seller to list any issues, and helps you avoiding areas possibly forgotten about but still important to the seller.
The seller has 5 days after contract acceptance to provide the buyer a completed AAR Residential SPDS form or the seller can be found in breach of contract. Allowing the buyer to cancel the contract, and have the earnest money deposit returned.
There are a few things the seller is not required to disclose. Read the document to find out more.