Why More Canadians May Sell U.S. Properties in 2016

Posted on March 9, 2016 by

By Fletcher Wilcox Many Canadians own residential real estate in Arizona. They are especially attracted to the desert areas of Arizona during the winter when they can soak in the sun rather than shake off the snow. Many got spectacular deals purchasing residential properties when prices were low and the Canadian dollar was close to […]

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Proper Use of Section 1d of the Residential Purchase Contract

Posted on February 25, 2016 by Lee Cooley

Generally speaking, a contract is an agreement with specific terms between two or more persons or entities in which there is a promise to do something in exchange for a valuable benefit known as consideration. Although it may seem obvious, an essential element of a valid contract is that all parties agree on all major […]

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February 2016 Form Revisions

Posted on January 28, 2016 by Lee Cooley

AAR Policy Statement P.30 states, “New or revised forms shall be released on or about February 1, June 1 and October 1 unless law or regulation mandates earlier release.” Pursuant to this Policy, at the beginning of February two of AAR’s standard forms have been revised as follows: PRE-QUALIFICATION FORM  12 CFR 1026.19(e)(2)(ii) states: Written […]

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Cybercrime: Data Security Protocols

Posted on December 28, 2015 by Nikki Salgat

Data breaches and cyberfraud are becoming increasingly common. A recent study by Javelin, a Greenwich Associates LLC company, found that 12.7 million adults in the U.S. became a victim of some form of identity fraud during 2014. Unfortunately, the real estate industry is not immune to cybercrime. In fact, Arizona real estate transactions continue to […]

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Pre-Possession and Post-Possession Checklists

Posted on December 16, 2015 by Lee Cooley

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PACE Loans: Do Arizonans Have Anything to Worry About?

Posted on December 9, 2015 by Nikki Salgat

Property Assessed Clean Energy, often referred to as PACE, is a type of financing used by property owners to fund energy efficient upgrades and renewable energy projects. PACE programs therefore help property owners pay for the upfront costs of green initiatives, such as solar panels and energy efficient windows, which the owner pays back through […]

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Arizona Registrar of Contractors Licensing Requirements

Posted on November 20, 2015 by

Courtesy of the Arizona Registrar of Contractors Just as an individual working unlicensed as a real estate agent negatively impacts the livelihoods of licensed agents and poses untold financial and safety risks for the public, contracting work performed by unlicensed entities poses devastating effects on the safety and welfare of the public and livelihoods of […]

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Help Protect the Value of Being a REALTOR®

Posted on October 29, 2015 by Nikki Salgat

The Arizona Association of REALTORS® (AAR) holds the copyright and exclusive right to AAR branded forms. Protection of this copyright is of critical importance to all REALTORS®. “If a member of the public desires to use an AAR form, we want them to hire a REALTOR® who has the knowledge and understanding of that form,” […]

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Revised HOA Addendum Adds Greater Disclosure for Better Closures

Posted on October 23, 2015 by

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What is Private Mortgage Insurance, How Does It Work and When Can I Remove It From My Loan?

Posted on October 19, 2015 by Nikki Salgat

Private Mortgage Insurance, often referred to as PMI, is a form of insurance that protects the lender in the event that the borrower stops making payments on their loan. More specifically, if the borrower defaults, the mortgage insurer reduces or eliminates the loss to the lender, meaning that the lender is the sole beneficiary of […]

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