Arizona Purchase Contract | Affidavit of Disclosure
This portion of the contract refers to areas that are located in an unincorporated area of the county where five or fewer parcels of property, other than subdivided property, are being transferred. The seller is required to deliver a completed Affidavit of Disclosure in the form required by law to the buyer within five days after contract acceptance. Once the Affidavit of Disclosure is provided, the buyer must provide notice of any items disapproved within the inspection period or five days after receipt of the Affidavit of Disclosure, whichever is later.
The buyer should also deliver a copy of the Affidavit of Disclosure so that it can be recorded at the close of escrow.
The contract language states, pursuant to Arizona law A.R.S. §33-422: If the Premises are located in an unincorporated area of the county, and five or fewer parcels of property other than subdivided property are being transferred, the Seller must deliver a completed Affidavit of Disclosure in the form required by law to the Buyer within five days after Contract acceptance. The Buyer must provide notice of any Affidavit of Disclosure items disapproved with the Inspection Period or five days after receipt of the Affidavit of Disclosure, whichever is later.
Posted on October 12, 2010, in Contracts and tagged arizona, buy a home, casa grande, contract, disclose, disclosure, home, home loan, homebuyer, house, information, knowledge, lender, pinal county, purchase contract, real estate, realtor. Bookmark the permalink. Leave a comment.