Set Yourself Up for a Successful Road to Homeownership!
When you work with The West Valley Home Team to help you find your new home, our goal is to help you understand the process so you can make educated choices along the way. During our Home Buying Strategy Meeting we cover quite a bit of information including what forms and disclosures a buyer will encounter during the home buying process.
Below is a list of some of these documents that I suggest you familiarize yourself with. Click on the document name to access a pdf file. Of course, as your Realtor, I will be going over these documents with you as well.
Real Estate Agency Disclosure and Election: This document covers how I will work with you and serve you as well as the different agency relationships.
Buyer Advisory: An awesome resource for buyers, this is a MUST read!!
Pre-Qualification Form: This form is provided to the seller when you make an offer on a property. It shows the seller that you have been pre-qualified with a lender and what steps were completed during the pre-qualification. This is required to submit an offer.
Loan Status Update: Your lender will supply this form during the transaction. You are required to provide this to the seller within 10 days of contract acceptance.
Disclosure of Co-Promotion/Branding Arrangement: This Realty ONE Group document discloses the companies that we have a co-promotion and branding agreement with.
Wire-Fraud & Cyber-Fraud Disclosure Statement: Unfortunately the cases of wire-fraud and cyber-fraud are on the rise. Keep your information safe! I will never send you any electronic communications with instructions to transfer funds or to provide personal information, including credit/debit card information, bank accounts details and/or routing numbers. Please read the entire Wire-Fraud & Cyber-Fraud Disclosure Statement for more information.
Residential Purchase Contract: This is the document used to submit your offer to the seller. It will include the offer amount and the terms and conditions. Once signed by all parties this is a legally binding contract.
H.O.A. Condominium/Planned Community Addendum: The seller must provide this to disclose any HOA dues, transfer fees, disclosure fees or other HOA fees. Page 1 is filled out by the seller, and the buyer fills out page 3. This form will be a part of your offer documentation as some the HOA fees are negotiable.
Pool Safety Notice: If you purchase a home with a pool, these pool safety rules will apply. Please check with any local ordinances as well.
Lead-Based Paint Disclosure: If a property was built prior to 1978, this disclosure will be used to advise the seller to disclose any pertinent information. Please also see the EPA, CPSC and HUD produced lead-based paint pamphlet, "Protect Your Family From Lead In Your Home."
Solar Panel Lease Assumption Addendum: If the property that you choose has leased solar panels installed you must take over the lease. In addition, you must qualify for the lease payments. You will also need to speak to your lender to make sure the solar lease payments don't affect your financing approval.
Residential Seller's Property Disclosure Statement (Commonly referred to as SPDS): Sellers are obligated by law to disclose any known material or important facts about the property. The Arizona Association of Realtors designed this form to help sellers disclose these facts. This should not stop you from taking an active role, you should still investigate and verify all pertinent information about the property.
If you take the time to review the documents you will be taking one more step to set yourself up for a successful road to home ownership!
DISCLOSURE: We try our best to keep this list updated with the most current forms. During a
transaction the most updated documents available will be used by your REALTOR.