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Advisory an Online Fount of Resources By K. Michelle Lind, General Counsel as seen in the Arizona Republic May 2002 ~ Reviewed December 2004 |
QUICKLINKS
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You think you've found your dream home, but do not know the questions to ask or
where to go for reliable information to make sure your dream home
doesn't end up being a nightmare? In an effort to help buyers get
answers they need, the Arizona Association of REALTORS® and
the Arizona Department of Real Estate are offering an online guide, the
Buyer Advisory,
containing a wealth of information for both first-time and experienced
buyers. The Advisory explains the documents a buyer should
review, home conditions that should be investigated, and conditions
affecting the surrounding area that a buyer should consider. The
Advisory also explains why certain issues are important and directs
buyers to sources of additional information on the Internet. Homebuyers receive a lot of documents, but don't always understand their importance. The Advisory lists common documents involved in a home sale and points out some of the things a buyer should be looking for. For example, buyers are cautioned to verify statements of concern in a new homebuilder's public report or a seller's property disclosure statement. The Advisory explains how a buyer agrees to be bound by the Covenants, Conditions and Restrictions ("CC&Rs") when buying a home and discusses other homeowners' association ("HOA") governing documents, such as the articles of incorporation, bylaws, rules, and architectural control standards. Links to information on HOAs, both pro and con, are provided. The Advisory also explains what important information may be found in the title report and the county assessor's records. And, since termites are common in some parts of the state, the Advisory includes a link to the Structural Pest Control Commission website, where buyers can find out if the home has ever been treated for termites. When evaluating property condition, buyers are told that a professional home inspection is absolutely essential. If the roof is 10 years old or older, a roof inspection by a licensed roofer is recommended. The Advisory explains that a separate pool inspection may also be warranted and provides a link to find out what pool safety laws apply to the home. Buyers are urged to request documentation regarding any work performed on the property and directed to the Registrar of Contractors for additional information. Also, buyers are informed that the square footage noted in the MLS or the county assessor's records should not be relied upon, and even if the seller indicates that the home is connected to the city sewer, a professional should verify it. A link to a map of expansive soils, which can cause movement and cracking, is provided. Mold problems are discussed and buyers are directed to information on mold provided by the Arizona Department of Health Services, the EPA and the CDC. The Advisory explains that an additional annual insurance premium may be required if the property is in a flood zone, and lists links to several sources of information to help determine if the property is in a flood hazard area. Conditions in the area surrounding the property are also addressed in the Advisory. Buyers are directed to several Internet sources of information on environmental hazards, including the Arizona Department of Environmental Quality Superfund maps. A link to maps on the Arizona Department of Transportation website is provided, indicating the nearest future freeway routes and roads slated for widening in the area. Links to check crime statistics for the cities of Phoenix, Tempe, Glendale, Mesa, Scottsdale, Chandler, Gilbert and Peoria are also made available. The Arizona sex offender registry is explained and a link to the sex offender website is provided. Since the legislature has mandated the identification of areas in the immediate vicinity of military and public airports that are susceptible to a certain level of noise from aircraft, links to maps indicating these areas are included. Of course, there is no substitute for using a REALTOR® in the home buying process; however, this Advisory provides valuable information and resources to help you become a more informed buyer. The Advisory is available at the Arizona Association of REALTORS® website, www.aaronline.com, or the Arizona Department of Real Estate website, www.azre.gov. Or ask your REALTOR® for a copy. K. Michelle Lind, Esq. K. Michelle Lind is General Counsel/Assistant CEO to the Arizona Association of REALTORS® (AAR). She serves as the primary legal advisor to the association. Michelle oversees AAR’s Risk Management Committee, which includes professional standards administration for twenty of the state’s local REALTOR® associations, and the development of standard real estate forms. She is the author of Arizona Real Estate: A Professional’s Guide to Law & Practice and a regular contributor to the Arizona REALTOR® and the Arizona Journal of Real Estate & Business. Please note that this article is of a general nature and may not be updated or revised for accuracy as statutory or case law changes following the date of first publication. Further, this article reflects only the opinion of the author, is not intended as definitive legal advice and you should not act upon it without seeking independent legal counsel. |
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