Arizona Buyer’s Advisory was created by Michelle Lind,esq., and the counsel for the Arizona Association of Realtors as an educational tool for anyone interested in buying property in Arizona. The online site has been updated on a regular basis in an effort to stay current with the changing market.
You can visit and download the Arizona Buyer’s Advisory here: AZ Buyer’s Advisory.
One of the important links on the site is to the Arizona Regional Multiple Listing Service website where you can open and review many of the forms and documents used in a real estate purchase.
Other important items to research are the MLS Printout and the Subdivision Disclosure Report (Public Report), especially useful when purchasing a new home from a builder.
There are many common documents associated with the purchase of property in Arizona, including the CC&R’s of a community association and the Homeowner Association Addendum. If a buyer has never lived in a community with a Homeowner’s Association, the CC&R’s help to explain with concept of living in a community governed by association guidelines.
The Advisory also helps buyers with understanding the title report on a property and the financing terms and loan documents that may be needed for a home purchase.
Although a home warranty is a negotiable item when buying a resale home in Arizona, this topic is also covered in the Advisory. Generally most buyers will ask seller’s to pay for a home warranty and in many instances, the seller’s may agree.
Other important items covered are; lead base paint, property taxes, pests including subterranean termites, home and other inspections describing the physical condition of the property, well water, septic, foreign investors/buyers, sq. ft. of a home, flood plains, homeowner’s insurance, environmental issues, airports, freeways, schools and fair housing.
There are many topic of interest in the Advisory so return often to gather more insight into the home buying process in Arizona.