Arizona Real Estate Broker Exam — All Questions

In a typical Arizona residential resale, the seller commonly provides the buyer with which disclosure of the property's condition?

• a.A Public Report
• b.A Broker Management Clinic certificate
• c.An affidavit of value only
• d.The Seller Property Disclosure Statement (SPDS)✓

In Arizona residential resales, sellers customarily complete the Seller Property Disclosure Statement (SPDS) disclosing known material facts about the property's condition. The Public Report applies to new subdivided/unsubdivided land, and the affidavit of value is a recording document, not a condition disclosure. Licensees should ensure the SPDS is delivered so the buyer can evaluate the property.

The Arizona Affidavit of Disclosure is specifically required when selling:

• a.Unsubdivided land (five or more parcels) in an unincorporated area of certain counties✓
• b.Any condominium unit statewide
• c.A single-family home inside city limits
• d.Commercial office space only

Arizona requires the seller to give the buyer an Affidavit of Disclosure when selling unsubdivided land (five or more parcels) located in an unincorporated area of a county, disclosing issues like legal access, utilities, roads, and flooding. It is distinct from the SPDS used for typical improved residential resales and does not apply to in-city homes or condos generally.

An Arizona designated broker's role in the firm's disclosure obligations is to ensure that affiliated licensees:

• a.Withhold the SPDS until after closing
• b.Deliver required disclosures such as the SPDS and, where applicable, the Affidavit of Disclosure to buyers in a timely manner✓
• c.Provide disclosures only to cash buyers
• d.Rely solely on the listing photos to describe condition

The designated broker must supervise the firm so affiliated licensees deliver required disclosures, including the SPDS and, when applicable, the Affidavit of Disclosure, to buyers on time. Withholding disclosures until after closing or limiting them to certain buyers violates Arizona law and exposes both the licensee and the designated broker to discipline.