Using the current Arizona SPDS, at a brokerage meeting in Tempe, the seller has actual knowledge of repeated drain backups and an HVAC condenser replacement. What should the parties assume under current Arizona rules?
Correct Answer
D) known significant plumbing, electrical, or HVAC issues and repair history should be disclosed rather than hidden as ordinary wear
Under current AAR SPDS, known significant plumbing, electrical, or HVAC issues and repair history should be disclosed rather than hidden as ordinary wear.
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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
Using the current Arizona SPDS, a seller knows about recurring foundation cracking and prior engineer recommendations. Which response best states Arizona law?
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Using the current Arizona SPDS, at Sonoran Valley Realty in Goodyear, the seller has actual knowledge of repeated drain backups and an HVAC condenser replacement. What is the best answer under current Arizona law or current Arizona form practice?