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Deserted Disclosure Standard
As California Realtors transplanting to Carefree, Arizona, we're navigating unfamiliar terrain. Our intention is to dip our toes into the local real estate market, but we've found ourselves entangled in a web of disclosure laws that leave us bewildered. A recent class on Arizona disclosure practices left us stunned. In stark contrast to California's stringent requirements, Arizona's statute appears to grant Realtors a get-out-of-disclosure-free card.
In California, we were taught that a Realtor's fiduciary duty to their buyer is paramount. However, in Arizona, the landscape shifts with A.R.S. § 32-2156. This law carves out exceptions that seem to exempt Realtors from disclosing even the most egregious information – like a murder in the home or a sex offender living nearby.
A hypothetical scenario illustrates the point: imagine a buyer with a young daughter, similar to Megan Kanka, who was tragically victimized by a sex offender. In Arizona, a Realtor is not obligated to disclose this potentially life-altering information. This raises questions about the extent of a Realtor's fiduciary duty in the Grand Canyon State.
If you're seeking clarity on Arizona real estate law, contact attorney Christopher A. Combs at [email protected] for expert guidance.
