A Comprehensive Resource for Home Buyers
The Arizona Association of Realtors (AAR) provides a complimentary 13-page Buyer Advisory, which is a resource for consumers interested in the purchase of a home or other type of residential real estate in Arizona.
Because this document is full of important information, most real estate brokers require that a Buyer’s Agent share this document with the buyer at the time you sign a purchase contract.
The Buyer Advisory is comprised of five sections:
- 1. Common documents a buyer should review;
- 2. Physical conditions in the property the buyer should investigate;
- 3. Conditions affecting the surrounding area that the buyer should investigate;
- 4. Other methods to getting information about a property;
- 5. Additional resources.
The advisory serves as a great resource for home buyers in performing due diligence on a property or neighborhood. It offers online links that the buyer can easily access and review during your inspection period or before you enter into a purchase contract.
While the advisory is comprehensive, it is not exhaustive and should only be used as a supplement to the Residential Purchase Contract and never in lieu of professional inspections.
Once a buyer has an accepted offer on a property, it is up to the Buyer to perform their own due diligence during the agreed upon inspection period (typically 10 days.) This is an important time to make sure you have reviewed the Buyer Advisory, as well as the Seller’s Property Disclosure Statement (completed by the seller of the property you’re purchasing).