A seller is preparing to list their residential property built in 1985. The listing agent explains they have two disclosure options under Arizona law. What is the primary difference between completing an SPDS versus an Affidavit of Disclosure?
Correct Answer
A) The SPDS requires specific answers about property conditions while the Affidavit of Disclosure allows the seller to state they have no knowledge
The SPDS requires sellers to provide specific detailed information about known property conditions, while the Affidavit of Disclosure allows sellers to simply state they have no knowledge of material facts affecting the property. Option B is incorrect as both forms can apply regardless of property age. Option C is incorrect as both documents typically require acknowledgment. Option D is incorrect as both forms must be completed by the seller, not the agent.
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More Spds Questions
Robert is selling his Phoenix townhouse and provided an SPDS to a potential buyer three weeks ago. Since then, he discovered a plumbing leak in the master bathroom that requires significant repair. The buyer is still considering the offer. What must Robert do?
A salesperson repeats that Arizona statutes generally require the SPDS itself in every residential resale. Which answer best states Arizona law?
In a Mesa transaction review, a broker tells a seller that delivering an affidavit under A.R.S. § 33-422 means no other property-condition disclosure questions matter. What is the best answer under current Arizona law or current Arizona form practice?
At Sun Corridor Realty in Nogales, a broker says the affidavit under § 33-422 is just an internal file note and never affects recorded land-transfer practice. Which statement should the broker communicate?
On the structural section of an SPDS, a seller indicates 'Yes' to roof problems and explains that three tiles were replaced last month due to wind damage. What should the listing agent advise?
- → In a Tempe transaction review, a broker says § 32-2156 allows silence about any unpleasant fact that might scare a buyer. What is the most accurate response?
- → Using the current Arizona SPDS, at a brokerage meeting in Gilbert, the seller cannot remember exact dates of repairs and asks the broker to invent reasonable estimates for the SPDS. Which statement is most accurate under current Arizona rules?
- → 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?
- → Using the current Arizona SPDS, in a Tucson transaction review, a broker explains that the SPDS can help document what the seller disclosed during the transaction. Which statement should the broker communicate?
- → In Arizona real estate transactions, what does the acronym SPDS stand for?
- → A seller inherited a property and has limited knowledge of its history. They discover documents indicating previous foundation underpinning work but no details about the reason or extent. How should this be disclosed?
- → Using the current Arizona SPDS, at Sun Corridor Realty in Mesa, a seller is reselling a house on a platted subdivision lot within Goodyear. Each of the following statements about spds vs affidavit of disclosure is generally true in Arizona EXCEPT.
- → A buyer's agent is reviewing disclosure documents for a residential purchase in Tucson. All of the following are true regarding the differences between an SPDS and an Affidavit of Disclosure EXCEPT:
- → 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?
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Previous Question
Using the current Arizona SPDS, at a brokerage meeting in Peoria, a student says the SPDS and Arizona's statutory Affidavit of Disclosure are interchangeable documents serving the same transactions. What should the parties assume under current Arizona rules?
Next Question
A seller owns a 15-year-old home and is deciding between providing an SPDS or an Affidavit of Disclosure. All of the following are accurate comparisons between these two disclosure methods EXCEPT: