Selling a home

The Thomas Davis Group has a "fiduciary duty" to their clients, and this means that the agents are held by law to owe specific duties to the person who they are legally representing, in this case, the seller. In addition to duties or obligations that are stated in a listing agreement , a fiduciary's duties include:

Loyalty
Reasonable care
Obedience
Accountability

Sellers are obligated under Arizona law to disclose to buyers known material facts about a property. You should disclose the following potential house defects :

Termites or other infestations
Roof defects
or leaks
Heating or air conditioning system problems
Property drainage problems
Foundation instabilities or cracks
Problems related to structural elements including interior walls, ceilings, doors, windows and floors
Problems with the electrical system, fire/smoke detection devices, and carbon monoxide detectors
Problems with the swimming pool, spa, hot tub, sauna or water features
Problems with title to the property
Neighbor issues that aren't obvious
Disclosure addendum for domestic well water source/water use
Environmental conditions related to your property, such as, soil settlement/expansion, the presence of contaminants including asbestos, radon gas, mold, pesticides and fuel/chemical storage
Location of your property within a flood plain or wetlands area
Lead paint (required under the federal
Residential Lead-Based Paint Hazard Reduction Act of 1992
for homes built prior to 1978)

Purchase Contract

When you've got a serious buyer, you'll receive a written offer to purchase your home, called a purchase contract which states the finalized terms and conditions for the sale.

You won't have very long to decide whether or not to take the offer or propose a real estate counter offer so it's important to be informed ahead of time.

Common counter-proposal items include:

A higher purchase price
A higher deposit
Giving buyer less time to remove contingencies
Excluding certain items from the sale
Providing you move in time to vacate the house after the sale is closed
A clause making it a contingency that your attorney approve the contract

In Arizona, you can expect to pay for some or all of the following charges - called closing cost at the time you sell your home:

Bring-down fee
Processing fee
Document preparation fee
Documentary transfer stamp tax
Flood certification fee
Inspection fee
Loan tie-in fee
Photo fee
Tax service fee
Underwriting fee

For more information on listing your home for sale in Arizona please contact us.