Property Disclosures

Important Note:

These forms are the property of the Arizona Association of Realtors and cannot be used outside of a licensed agent in the state of Arizona. The information contained in this article is for informational purposes only and not to be construed as legal advice.

Go Here to Download the Latest Version

Click on the link ->Residential Seller’s Property Disclosure Statement (SPDS) with Seller Advisory<-

What is SPDS?

According to Arizona law, all property owners are required to disclose any information that they have about the property that would materially affect a buyer’s decision to buy the property.

The AAR (Arizona Association of Realtors) has a commonly used document called the Sellers Property Disclosure Statement (commonly referred to as SPDS pronounced like spuds) to help sellers disclose all information that would be pertinent to the sale of the home. This form is only available to clients of licensed agents, and as such, we are not able to give you the form exactly to fill out. But, what we have available, is a word document with the same information on it that you can fill out to the best of your ability in order to facilitate a transparent transaction in a format that is familiar to most agents.

Owners are not required to know everything about a property. If they have not lived in the home, or had tenants in it, or have never occupied it, they may not have all the information about the home, which is fine. But, they are required, both by law and by our rules, to disclose as much as they know.

If you are unsure of something (i.e. there is a water spot on the wall but you don’t know if it is a roof leak or a child overflowed an upstairs toilet) just write that there is a water spot. It exactly what you know without trying to guess what the cause is. Does the air conditioner make a noise? Write that it makes a noise. Don’t try to guess why it makes a noise. Did you repair a drywall crack? Write that you repaired a drywall crack. Did you replace a furnace? Write that you replaced a furnace.

The point is to disclose what you know, not what you don’t know, or what you think. It’s what you know, and exactly no more.

Where do I get the SPDS?

You can download a sample form so you will know what will be on it at the link above. But, due to AAR’s rules about distribution of forms which they own the copyright to (including this one), only licensed agents can distribute the forms as part of their business.

If you receive an offer from a Just 3K approved agent, that agent will provide you with the SPDS form to fill out. This form, unlike most of the rest of the forms, cannot be filled out digitally and must be printed and filled out by hand.

If you receive an offer from a non-Just 3K approved agent, they may not provide you with a SPDS form to fill out. In that case, you are still required to disclose what you know, and you should request a SPDS form from the buyer’s agent in order to be in compliance with the law and the purchase contract.

Remember:
Disclosing everything you know about the home to the buyer is required by law, even if you don't fill out a SPDS form if there isn't a question on the form that doesn't address the particular concern.