Phoenix Real Real Estate Buyer Advisory

 

Buyer Due Diligence When Purchasing a Home in ArizonaPower Ranch Splash Pad

Buying a home can be a daunting and stressful undertaking, whether  you’ve lived here for years or are relocating from another state. Performing a thorough due diligence is critical and entails more than just a home inspection.  It also includes an understanding of the surrounding area, the neighborhood, the HOA and the CC&R’s, soil conditions, crime reports, etc.  In order to assist buyers , the Arizona Department of Real Estate and Association of Realtors have published a Buyer Advisory as a supplemental tool for buyers.

Assisting buyers with a home purchase

Realtors are required to provide a copy of the Buyer Advisory no later than the beginning of the inspection period. The advisory covers documents that will be used, physical conditions of the property, and factors about the surrounding area.Post Tension Slab

Arizona Buyer Advisory

Documents Used In The Transaction

 Forms that will be used in the transaction are numerous. One of the most important is the purchase contract which establishes the price, close of escrow date, inspection period duration, contingencies, closing cost assistance, etc. Then come the addendums such as the HOA/Planned Community Addendum, possibly an As-Is Addendum, wastewater addendum, etc.,etc.    Other documents will include the Seller Property Disclosure Statement, Title Report, CC&R’s, inspection report and others.

Physical Conditions of the PropertyChandler Veterans Oasis Park

One condition that varies depending on the city will be the degree of expansive soil that exists in an area.  This is the reason many builders have been using post tension slabs.   To  identify the areas that have expansive soil, click on Soil Shrink Swell Potential Map.

The square footage is typically taken from the county tax assessor records, and most of the time it is correct. However there are cases when it is incorrect. If it does not seem right, make sure and measure it during the inspection period.

Factors About The Surrounding Area

Factors that may not be specific to the house but affect the desirability of the area could include future Transportation Projects or highways in the area.  Another link provided in the Buyer Advisory is a link to sex offenders.

Pink CanoeDue Diligence for Waterfront Property

When you’re considering the purchase of a waterfront property, there are additional factors that must be considered.  One of them may be does this lake allow boating? Another one would be understanding the source of the lake water . For those who may be interested in fishing, make sure and talk to the HOA and even more importantly, the company that the HOA uses to maintain the lake.  That company will have the most detailed information.

The Best Advice In The Buyer Advisory

Sailing In Desert Harbor LakeI believe the best advice in the Buyer Advisory is at the end of the document. On page 9, it recommends;  “Talk to the Neighbors Neighbors can provide a wealth of information. Buyers should always talk to the surrounding residents about the neighborhood and the history of the property the buyer is considering for purchase.”  You’ll have to live next to them so you might as find out if you can get along with them!

Waterfront Home Search

The above are a fraction of the factors that the Buyer Advisory recommends a buyer to investigate. Review the entire document and ask your Realtor any questions you may have.

If you’d like to receive automatically listings of homes, click on Receive listings of homes automatically. Please describe in detail your dream home.

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10183 E COCHISE DRIVE

10183 E COCHISE DRIVE
Price: $1,444,000
SqFt: 3609
# Beds: 4
# Baths: 3
Acres: 0.19
City: Scottsdale
State: AZ
Zip: 85258

4470 S ROSEMARY PLACE

4470 S ROSEMARY PLACE
Price: $699,000
SqFt: 3108
# Beds: 5
# Baths: 3
Acres: 0.24
City: Chandler
State: AZ
Zip: 85248

10235 E COCHISE DRIVE

10235 E COCHISE DRIVE
Price: $1,099,000
SqFt: 3300
# Beds: 4
# Baths: 3
Acres: 0.27
City: Scottsdale
State: AZ
Zip: 85258

16427 S 34TH WAY

16427 S 34TH WAY
Price: $559,000
SqFt: 2298
# Beds: 3
# Baths: 3
Acres: 0.16
City: Phoenix
State: AZ
Zip: 85048

1518 E TREASURE COVE DRIVE

1518 E TREASURE COVE DRIVE
Price: $775,000
SqFt: 3323
# Beds: 5
# Baths: 3
Acres: 0.4
City: Gilbert
State: AZ
Zip: 85234

936 W GRAND CANYON DRIVE

936 W GRAND CANYON DRIVE
Price: $885,000
SqFt: 3236
# Beds: 4
# Baths: 3.5
Acres: 0.23
City: Chandler
State: AZ
Zip: 85248

1271 W MARINA DRIVE

1271 W MARINA DRIVE
Price: $995,000
SqFt: 3642
# Beds: 3
# Baths: 2.75
Acres: 0.44
City: Chandler
State: AZ
Zip: 85248

9951 E ISLAND CIRCLE

9951 E ISLAND CIRCLE
Price: $1,295,000
SqFt: 3676
# Beds: 3
# Baths: 2.5
Acres: 0.27
City: Scottsdale
State: AZ
Zip: 85258

3300 S WATERFRONT DRIVE

3300 S WATERFRONT DRIVE
Price: $905,000
SqFt: 4427
# Beds: 6
# Baths: 4.5
Acres: 0.25
City: Chandler
State: AZ
Zip: 85248

8564 E LAKE ROAD

8564 E LAKE ROAD
Price: $365,000
SqFt: 1820
# Beds: 3
# Baths: 3
Acres: 0.53
City: San Tan Valley
State: AZ
Zip: 85143

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