This Seller's Information for Appraiser provided to Buyer form is used by the Buyer in Arizona to provide information required by an appraiser in order to conduct an appraisal of the property prior to purchase. The Seller provides this completed form to the Buyer, who furnishes it to the appraiser. This form is designed to make the transaction flow more efficiently.
Tempe Arizona Seller's Information for Appraiser provided to Buyer
Category:
State:
Arizona
City:
Tempe
Control #:
AZ-00472-2
Format:
Word;
Rich Text
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Arizona Attorney General - File a Consumer Complaint Phoenix Metro Area: (602) 542-5763. In-state Toll-free: (800) 352-8431.
Since that is a pretty broad statement, the Arizona Association of Realtors has created the SPDS form in an attempt to make the process as easy as possible. The disclosure form is divided into 6 general sections: Ownership and General Property Information.
The Arizona Department of Insurance and Financial Institutions oversees the secure operation of Arizona's Real Estate Appraisal Division. The Department ensures the safety and soundness of the appraisal industry while overseeing compliance with state and applicable federal laws.
The most commonly used form for such disclosures is the Transfer Disclosure Statement that the sellers will complete and sign. What must be disclosed? Under California law, all material facts that affect the value or desirability of the property must be disclosed to the buyer.
Items That Do Not Have to Be Disclosed Frequently referred to as ?stigma statutes,? one of the most common under Arizona's stigmatized property law is that you do not have to disclose if a death has occurred in the home. This is true regardless of whether the death was natural, suicide or a homicide.
If the buyer asks, do you have to disclose if someone died in a house? Regardless of which state you live in, if the buyer asks whether a death has occurred in the home, you are legally required to tell them the truth or risk legal repercussions.
It is now basic Arizona law that a seller has an affirmative duty to disclose material facts concerning property or where, among other things, disclosure would correct a mistake of the other party as to a basic assumption on which that party is making the contract.
The Real Estate Transfer Disclosure Statement (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.
According to Randall Bell, a real estate broker who specializes in real estate damage valuation, a non-natural death in a home can drop the value 10-25%. When it comes to selling a home where a death occurred, it's all about perception, he said.
Under Arizona law, neither landlords nor home sellers are required to tell potential tenants or buyers that the dwelling is ?the site of a natural death, suicide or homicide or any other crime classified as a felony? (A.R.S. 32-2156).
