DISCLOSURE ISSUES

Disclosure Issues

In both commercial and residential real estate sales, proper disclosure by the seller of defects in the property is essential. Many non-disclosure problems can be avoided by the usage of forms such as the Arizona Association of Realtors’ Seller Property Disclosure Statement (“SPDS”), developed for commercial, vacant land, and residential transactions.

If there is a wrongful failure by the seller to disclose a defect in of real property, the buyer may have a fraud claim which could warrant punitive damages. For fraudulent non-disclosures, e.g., inadequate roof repairs, the statute of limitations is generally three years.

Frequently Asked Questions about Disclosure Issues

RELATED ARTICLES

Listing Agent Has to Disclose Family Relationship With Buyer

November 13, 2022

Question: We listed our North Phoenix home with our neighbor who is a real estate agent and also a Realtor. The next day we accepted an offer to purchase our home from a Limited Liability Company (“LLC”) buyer. This LLC buyer planned to remodel our home, and then “flip” our…

Read More >>

Seller Didn’t Disclose the Short-Term Rental Next Door

June 26, 2022

Question: In the purchase contract for the sale of our Chandler home, there is a provision giving the right for a 10-day inspection. The purchase contract also said that the sale was “as is,” and “no repairs.” After the 10-day inspection period, the buyer deposited $35,000 earnest money with the…

Read More >>

What Our Clients Are Saying

Chelsea - Thank you for your hard work and support in resolving our matter. Your dedication and perseverance is much appreciated.

We just wanted to write you and send a BIG thank you for all of your help in bringing this to a reasonable settlement today. We were extremely pleased with Chelsea's representation, and her superior skills today in negotiation. Also, a big thank you to everyone that worked behind the scenes to get this done.

Thank you again, Chelsea and Combs Law Group. You've been fantastic to work with.