The Preprinted Portion of This Form Has Been Drafted by the Arizona Association of REALTORS
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People also ask
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What document created by AAR is helpful in explaining disclosure requirements to sellers?
The SPDS is designed to assist you, the seller, in making these legally required disclosures and to avoid inadvertent nondisclosures of material facts. -
What is an additional clause addendum?
An addendum is something added to a previously existing written document – usually a contract. -
What is the difference between a pre-qualification and a pre-approval?
The biggest difference between the two is that getting pre-qualified is typically a faster and less detailed process, while pre-approvals are more comprehensive and take longer. Getting a pre-qualification or pre-approval letter is generally not a guarantee that you will secure a loan from the lender. -
What is the purpose of the AAR pre qualification form?
A prequalification or preapproval letter is a document from a lender stating that the lender is tentatively willing to lend to you, up to a certain loan amount. This document is based on certain assumptions and it is not a guaranteed loan offer. -
What has to be disclosed when selling a house in Arizona?
The disclosure statement is divided into the following six sections: Property and Ownership. This section asks for general and legal information about the property, such as location, ownership, year built, easements or use restrictions, and occupancy. Building and Safety Information. -
What is Pqf in real estate?
Purpose: This Pre-Qualification Form is to be used in conjunction with an AAR Residential Resale Real Estate Purchase Contract or Vacant Land/Lot Purchase Contract (“Contract”). -
Is Arizona a non disclosure state in real estate?
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. This is commonly referred to as the stigma statutes or Arizona stigmatized property law. -
Why do realtors ask for a pre-approval?
A preapproval helps you and agents narrow down your search to only properties that will fit into your price range. Initial expectations of how much you can afford may be different than reality (especially if you're buying your very first home). -
Do you have to disclose a death in a house in Arizona?
Arizona does not require disclosure of death on a property. The state specifically list natural death,suicide, or homicide as exclusion to disclosure requirements. -
Should you show seller your pre-approval letter?
You should let the agent know you have been pre-approved for a loan, although you do not have to show him/her your pre-approval letter. (By the way, being pre-approved is different from being pre-qualified, although many buyers confuse the two. -
Do you have to tell someone if someone dies in your house?
Regardless of which state you live in, if the buyer asks whether a death has occurred in the home, you are legally required to tell them the truth or risk legal repercussions.
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