A seller discovers asbestos tiles in the basement after completing the SPDS but before accepting an offer. All of the following actions are required EXCEPT:
Correct Answer
C) Immediately remove the asbestos before showing the property
The seller is not required to immediately remove asbestos before showing the property - disclosure is the requirement, not remediation. Option A is correct because the SPDS must be updated. Option B is correct because updated disclosures must be provided to prospects. Option D is correct because the listing agent must be informed of material changes.
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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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At Sonoran Valley Realty in Tempe, a broker says § 32-2156 allows silence about any unpleasant fact that might scare a buyer. What should the parties assume under current Arizona rules?
Lisa receives an SPDS from the seller on Tuesday and her agent emails her a corrected version on Friday of the same week. According to Arizona law, when does Lisa's right to cancel the purchase contract based on the SPDS expire?
An Arizona seller completes the structural section of the SPDS. Which listed item is the exception that the section does not require the seller to disclose?
- → 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?
- → Tom is purchasing a home built in 1955 that has been completely renovated. The seller's agent tells him that no SPDS is required because the home was built before a certain date. Is this correct?
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- → A salesperson repeats that Arizona statutes generally require the SPDS itself in every residential resale. Which answer best states Arizona law?
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- → While reviewing a transaction in Apache County, Under current Arizona rules, which statement best describes 32-2156 boundaries?
- → While reviewing a transaction in Yavapai County, the buyer says the seller may skip the SPDS because the contract says the property is purchased as is. What is the most accurate response?
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An Arizona seller knows of an environmental hazard affecting the property. What makes the condition material enough to require disclosure in the SPDS?
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A property has a retaining wall that shows minor cracking but remains structurally sound according to an engineer's report from six months ago. The seller is unsure how to address this in the SPDS structural section. What should be disclosed?