Are you planning to put your house up for sale in Arizona? Selling your house can be tiresome and hectic for homeowners, especially those who are selling it for the first time. Every state has different laws when it comes to disclosure agreements for real estate.
These disclosure laws in Arizona can differ for commercial and residential properties. At the same time, there are quite a few items that do not need to be disclosed in any real estate transaction. Other than these specific items, everything about your property, especially the material facts must be revealed to the potential homebuyer.
To assist sellers, we’ve put together the main real estate non-disclosure items you do not have to reveal to the buyers when selling your house.
Arizona laws clearly state the items that should be disclosed to aspiring homebuyers. Anyone who is interested in investing in your real estate or buying your house must know the general details of the property before they go ahead with the deal.
The laws also state the items your buyers do not need to know about your property. The Arizona non-disclosures refer to the things that a seller is not responsible for revealing to the homebuyer, although they can reveal this information if they want to.
- The Death of Someone – Suicidal, Homicide, or Natural Death
This is commonly referred to as the stigma statutes or Arizona stigmatized property law. For example, the seller doesn’t have to reveal if any death occurred in the house. A home buyer does not need to know if someone died in your house, and you do not have to share this information with a prospective or contracted buyer for your house. Even if someone committed suicide in your house or died of a serious illness, you can omit this information from the real estate disclosure form. Importantly, you cannot lie if asked about this information.
- Diseases or Infection
Similarly, the seller doesn’t have to disclose if someone who has been currently residing in the building or someone who has left the building has HIV or other serious diseases. Even if one of their family members living in the house is diagnosed with a life-threatening disease, that information does not have to be disclosed to the buyer. Similar to the above, you cannot lie if asked about this information.
- Information About the Sex Offender
Another component of the Arizona real estate non-disclosure agreement is information about sex offenders. Even if the seller knows of a sex offender living in the area, especially the neighborhood, this information can be kept confidential. Since it does not have anything to do with the property in question, the seller does not have to mention it in the property description or disclosure.
There is a good chance the buyer will conduct research on the property and the neighborhood to get more details about the area and whether it is safe for residential purposes. They might find out these details on their own or through a friend.
However, a seller does not have to disclose it to the buyer. In other words, a buyer cannot file a complaint against the seller for not sharing the information about suicide or death from an infectious disease in the house. Similarly, they cannot sue you for not revealing about the sex offenders living in the neighborhood. It is always advisable to work with a realtor in Arizona and consult with a real estate attorney to learn more about the disclosure issues regarding a specific property. And, you cannot lie if asked about this information.
What to Disclosure?
The disclosure agreement includes the general details of the real estate involved in a potential transaction. For example, the age of the property, any easement or lien encumbering the property, the address of the building, and more.
Information about the utilities and wastewater treatment also need to be disclosed. Usually, the essential information about the property is covered in the seller’s property disclosure statement (SPDS) that is prepared by seller and their realtor.
Disclose When You are in Doubt
It is normal for prospective property sellers to have many questions for realtor and a real estate attorney regarding disclosure. The specific information listed above is the only information that you can definitely not disclose. Unless it falls into the above three categories that are not mandatory, you are generally obligated to disclose it to the buyer. The buyer has the right to know material information relating to your property.
Basically, any factual information that could affect the buyer’s health, wellness or enjoyment of the property in the home should be disclosed. These material factors must be disclosed for a real estate transaction to be valid in Arizona and failure to disclose any required information can leave the seller at risk of legal action. Whenever you are in doubt about whether certain information should be disclosed or not, it is prudent to disclose it.
Phoenix Real Estate Attorneys
If you are having difficulty figuring out Arizona’s real estate disclosure and non-disclosure laws, feel free to contact the real estate attorneys at M&G Law. They have extensive knowledge of the real estate industry and can help you handle any issues around disclosure in Arizona. Contact M&G Law today at 602-562-7218 to schedule an initial consultation or make an appointment on our website today.