The Seller Property Disclosure Statement, or SPDS, is one of the most important documents in an Arizona home sale.
In Arizona, Sellers are required to disclose certain information about the property to the buyer. 🗣It’s really important to know about the Disclosure Statement because no one wants to get into legal trouble! 👎 Listen to the Video to learn more! 🧠
What Buyers and Sellers Should Know About the Seller Property Disclosure Statement
The SPDS asks sellers to disclose what they know about the property, including ownership, HOA details, roof, plumbing, electrical, pool, water and sewer, past repairs, insurance claims and environmental issues. Under the standard Arizona purchase contract, sellers typically deliver it within a few days after acceptance.
Sellers should answer honestly and completely, because disclosure problems are a common source of disputes after closing. Buyers should read it carefully during the inspection period and ask follow-up questions about anything unclear.
As a Realtor and licensed attorney, I review disclosures closely with my clients. See my seller resources or buyer resources. This post is general information, not legal advice.
