Using the current Arizona SPDS, in a licensing seminar in Tucson, a duplex has known drainage problems and lies in a floodplain according to the seller's records. Which statement should the broker communicate?
Correct Answer
D) known environmental or site conditions such as floodplain, drainage, and soil issues belong in Arizona disclosure practice when material
Under current AAR SPDS; Arizona disclosure practice, known environmental or site conditions such as floodplain, drainage, and soil issues belong in Arizona disclosure practice when material.
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More Spds Questions
In a licensing seminar in Nogales, a salesperson repeats that Arizona statutes generally require the SPDS itself in every residential resale. Which statement is most accurate under current Arizona rules?
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- → Lisa is selling her home to her brother Mike for $300,000. Mike is obtaining a conventional loan for the purchase. Their real estate agent says the parties may omit a Seller's Property Disclosure Statement (SPDS) solely because this is a family transaction. Is that advice correct for the residential resale transaction described?
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Previous Question
Under the current AAR Residential Resale Real Estate Purchase Contract, using the current Arizona SPDS, during an Arizona file audit in Navajo County, the home has leased solar equipment that will affect the buyer's future obligations unless addressed. Each of the following statements about spds sections structural env is generally true in Arizona EXCEPT.
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Using the current Arizona SPDS, how should a seller handle a roof that leaked during monsoon season and required two patch repairs?