Residential Seller's Property Disclosure Statement

09 · What this form is

The statement a seller uses to disclose what they know

The Residential Seller's Property Disclosure Statement, or SPDS, is the standard disclosure statement a residential seller uses in an Arizona resale transaction to disclose known facts and conditions about the property to the buyer. It is how the seller puts what they know about the home on the record.

10 · When it commonly arises

When a home is listed and as part of the sale process

This statement commonly arises when a home is listed for sale and is completed as part of the sale process, so buyers have the seller's known information to review as they consider the property.

11 · General subjects it covers

The property and what the seller knows about it, at a high level

At a high level, the statement addresses the property and ownership, known conditions, systems and components, and related disclosures that the seller completes to the best of their knowledge. It reflects the seller's known information and is not a warranty, nor a substitute for the buyer's own inspections or due diligence. The specific items and wording are set in the document itself.

12 · Questions to discuss with Andrew

The points worth understanding before you sign

• What a seller should disclose, and how to approach the statement completely and truthfully.

• What buyers typically review in the statement, so sellers know what to expect.

• How the statement interacts with inspections, and where each leaves room for follow-up.

13 · Next steps

Complete it truthfully, review it, and follow up

• Sellers should complete the statement carefully and truthfully, to the best of their knowledge.

• Buyers should review the statement and raise any questions it brings up.

• Buyers should follow up with their own inspections and due diligence before closing.