SPDS is a document provided by the seller to the buyer. It is designed to assist you, the seller, in making the legally required disclosures. The SPDS also serves as a measure to avoid inadvertent nondisclosures of material facts, as well as the home’s condition along with any upgrades done since ownership. This is used to ensure full transparency when completing a real estate transaction. When using the Arizona Association of REALTORS (“AAR”) Residential Resale Real Estate Purchase Contract, the seller is required to deliver the SPDS three days after Contract acceptance.
When we receive the SPDS, we will go over them with our client in the beginning stage of their due diligence period. If there is an area of concern, such as a prior roof leak, we will have one of our trusted roofing vendors come verify the work and confirm no other spots of failure. The SPDS can also be shared with your inspector to verify any other the sellers disclosures. The SPDS is a great document to help communicate any past history of the home to the potential new homeowner.
