SPDS And The Tucson Home Inspection Process
SPDS Are Required To Be Prepared By A Tucson Home Seller
Seller’s Property Disclosure Statement OR “SPDS” This important document provides information on the condition of the seller’s home.
The SPDS identify what the seller knows about the property. The Arizona Department of Real Estate requires the SPDS for every home sale.
A critical exception to this rule is REO homes.
Sellers must disclose all known material facts about the property in the Seller Property Disclosure Statement. This is one time when TMI (Too Much Information) doesn’t apply. The more information on the SPDS the better.
Disclosure helps to protect the Seller from a future claim by the Buyer. The buyer must receive the SPDS within 5 days of the accepted contract.
With the accepted offer, the Buyer will start their “due diligence” process. The Buyer has 10 days in which to complete a Tucson Home inspection.
A home inspector will review the SPDS before beginning their inspection. At the end of the inspection, a Home Inspection Report describes the condition of home. From the “inspector’s” point of view.
A Home Inspection Covers
A Tucson Home Inspection will take 2 to 3 hours based on the size of the home. The report covers the roof, heating and A/C systems, electrical and other aspects of the home.
After the inspection, the buyer of the home gets a Home Inspection Report. The Buyer uses the report to decide whether of not the home’s condition is acceptable to them.
It documents what the Buyer is requesting the Seller to repair before they “buy” the home.
The Buyer’s agent will prepare a “Buyer Inspection Notice and Sellers Response” – BINSR. The BINSR identifies the items the Buyer want the Seller to repair. Repairs may be a condition of completing the process of purchasing your home.
The Seller now has THREE (3) options
1 – Agree to make all requested repairs and proceed with the sale.
2 – Agree to make some, but not all, of the requested repairs.
3 – Refuse to make any repairs.
If you elect Option #1, you are essentially done.
You make the repairs agreed to before Close of Escrow and provide the Buyers receipts for the completed work.
If you should elect either Option #2 or #3 –
The Buyer now has TWO (2) options
1 – Cancel the contract and have their earnest money returned.
2 – Accept your response and proceed with the purchase. While this process sounds complicated it is actually fairly straight forward. The purchase contract sets forth the time-lines (they can be modified) and clearly sets the options for both the Seller and Buyer.
We are, of course, there to explain and review the options available at each set in the process. We will prepare a “Repair Addendum” listing the requested repairs.
When signed, we will forward it to the Seller’s agent.
Other Inspections To Consider
Should the property have a septic system a Tucson Septic Inspection will be required.
Considering A Home In Tucson, AZ?
Are you thinking of buying a home in the greater Tucson area? Finding the right home can be a challenging process. But we can make the process much less stressful for you.
We have been Tucson Realtors since 2002. We know Tucson and the Tucson Real Estate market. As a top Realtor duo, we invest the time to understand your home buying interests and desires. At our first meeting, we will review the current real estate market with you. Show you the market data and then walk you through the Arizona home buying process.
Why? We want you to know what to expect. And what to plan for.
Interested in new construction? We’ll brief you on buying a new construction home. And what’s unique about the process.
For us, you are not another real estate transaction. You are a client and, future friend. We strive to create a relationship that continues long after you move into your home. Review our profiles. Check out our backgrounds, education, and certifications.
We are here to help you “know what you need to know” to buy a home in Tucson, AZ. We provide you information on Tucson events, places to shop and restaurants. Our resources include contractors, electricians, and home services. We will also help you get deals on tile and paint to make the home you buy yours. Our professional service backgrounds mean we put you first!
Thinking About Selling Your Home In The Greater Tucson Area?
Selling a home requires more than listing it in the Tucson MLS system. It’s about marketing. Marketing through multiple online channels.
To no one’s surprise, 80% of home buyers start their search on the internet. Homes must be visible on multiple internet channels. The more visible a home is, the faster it will sell.
We use multiple online marketing channels to showcase your home. We will build a stand-alone website built to show your home. Our marketing program targets key cities in the U. S. based on the season. For luxury listings, our drone service provides video of your home and neighborhood. This video along with professional photos helps the online buyer see and feel in your home.
To learn more about how we can help you sell your Tucson home, call us – 520-940-4541 – to arrange a meeting. We will visit your home and prepare a comparative market analysis. Then we will meet with you to review our analysis and our marketing program to “get your home sold!”
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Our website provides information on communities and neighborhoods in the greater Tucson area. Want more? Give us a call – 520-940-4541. We are ready to answer your questions and help you get the information you are looking for.
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Questions about the Tucson Real Estate Market or Tucson Homes for Sale?
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