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. ยง33-422: 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.

For a FAQ directly from the Arizona Association of Realtors, click here.
For an example of an Affidavit of Disclosure from the Arizona State Legislature, click here.

About Melissa Yost Fuentes

Melissa specializes in residential real estate in the Central Arizona market which includes the communities of: Casa Grande, Maricopa, Arizona City, Coolidge, Florence, Chandler, Gilbert, Mesa, Queen Creek, San Tan Valley and everything in between. She has a drive for excellence which has earned her the following designations and certifications that add to her ability to effectively work for you: the Certified Distressed Property Expert designation, the Certified Investor Agent Specialist designation, the Accredited Buyer Representative designation, the Short Sale & Foreclosure Resource certification, the Graduate Realtor Institute designation, and the ePro designation which is designed to help utilize the most current and innovative technology tools when searching for or selling your home. In addition, an Associate of Arts degree in Visual Communications with an emphasis in Multimedia helps Melissa put every piece of the marketing puzzle together to work for you when selling your home in this difficult market.

Posted on October 12, 2010, in Contracts and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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