REAL ESTATE TRANSACTIONS ARTICLES
Must We Tell Potential Homebuyers About A Bad Neighbor?
Question: We live in a nice neighborhood in Phoenix. Our next-door neighbor has gone off the rails and is trying to kill our cats, as well as all other cats in the neighborhood. This neighbor believes that these cats are giving fleas to his two dogs. The police have been called multiple times. Our neighbor has admitted to throwing mothballs in the backyard to try to kill the cats. Apparently, mothballs are extremely toxic to cats and small children. We are planning on selling our home in the next year. Will we have to disclose this neighbor’s crazy behavior? Answer: Absolutely!…
Seller Not Required To Disclose Arrest For Statutory Rape
Question: We will be selling our Mesa home this summer. Our next-door neighbor’s 14-year-old freshman daughter was recently caught by her angry father having sex in the home with her 18-year-old senior boyfriend. The father called the police who arrested the boyfriend because the felony of statutory rape had been committed in the home. The father later declined to press charges, and the 18-year-old boyfriend was released. The 18-year-old boyfriend still lives in our neighborhood. Will we have to disclose his arrest when we sell our home? Answer: No. A homeowner does not have to disclose to a buyer…
Seller Cannot Demand Sale of Home to a US Citizen Only
Question: I am a Glendale real estate broker who just took a listing to sell 40 acres of agricultural property. The seller of the 40 acres of agricultural property vehemently told me that he would only sell to a “US citizen with paperwork.” Is that legal? Answer: No. The federal and state Fair Housing laws generally protect a buyer regardless of “national origin.” Therefore, the seller of a home, and any real estate agent, cannot discriminate against the buyer of a home who is not a US citizen. You should consult with your designated broker on how to educate your…
Buyer Allowed to Cancel the Purchase Contract if Short-Term Rental Next Door
In your recent column you talked about a buyer under the standard AAR Purchase Contract cancelling the purchase of a Glendale home the day before close of escrow. The buyer’s reason was that the home next door had just been sold that day to an investor to be a short-term rental (“STR”). We lived next door to a STR in our last home in Scottsdale, and this STR was a major reason for our move to our current Tempe home. I am a Realtor, and I was just curious how you cancel the purchase of a home the day before…
Disclosure of Gunnery Range is Required
Question: We purchased our retirement home last August in far north Phoenix near the mountains. Our seller was an investor. Thus, many of the seller’s answers on the Seller Property Disclosure Statement (“SPDS”) stated “unknown as never lived in house, buyer needs to do own research.” At that time of our home purchase we were unaware that the Ben Avery shooting range was across the freeway, although we went to the home several times before purchasing the home. We never heard gun shots as it was the middle of summer and 110 degrees. We are miserable in our retirement home…
Mediation Required for Potential Foundation Problem with North Scottsdale Home
Question: We signed a contract to sell our north Scottsdale home to a California buyer for $2.5 million. The buyer deposited $75,000 earnest money with the escrow company. At the final walkthrough the buyer “discovered” some new cracks in our Saltillo tile floor. The buyer then demanded the return of the $75,000 earnest money because of potential foundation problems. We have refused to release the $75,000 earnest money to the buyer because we think that the buyer just got “cold feet,” and is inventing potential foundation problems. Our escrow company said that under the purchase contract both of us now…
Buyer’s Right to Cancel Purchase Contract Because of “Ghost Rumors”
Question: In a recent column you said that a buyer could cancel a purchase contract for a home within the 10-day inspection period because of “neighborhood rumors about ghosts haunting the home.” Even worse, you said that the buyer could then get his $20,000 earnest money back! We are planning on listing our Sun Lakes home for sale at the end of the summer. If a buyer signs the purchase contract and then comes up with some phony “ghost rumors” reason to cancel the purchase contract and get their $20,000 earnest money back, will we have to go to court…
Seller Wants Two-Week Extension to Close Escrow
Question: My wife and I are first time homebuyers in our late 20s. We signed a contract to purchase a home in Chandler. The close of escrow is scheduled in two weeks. Our apartment lease ends in two weeks. The seller’s real estate agent just told us that the seller will not be able to move out in two weeks, and that the seller needs a 10-day extension of the close of escrow. Our landlord says, however, that another tenant is moving into our apartment in two weeks. Therefore, our landlord won’t extend our lease for even one day. What…
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