COVID-19

Question: In your recent column the buyer of an expensive Carefree home no longer wanted to close escrow on the home because the COVID-19 crisis caused a change in the buyer’s financial circumstances. The buyer wanted to cancel the transaction and forfeit the $25,000 earnest money. Under the standard Arizona Association of Realtors (“AAR”) Purchase…

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Judgment Money

Question: We own a rental home near downtown Scottsdale. The son of a well-known celebrity signed a lease for a year. After two months we received phone calls from our neighbors complaining about the noise and trash in the streets. We then inspected the home and found significant damage, including large holes in the wall,…

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