The Buyer Advisory: What You Need to Know
July 6, 2017 - By Resource
Are you buying a home in the state of Arizona? You will want to review the Buyer Advisory before purchasing your home. Here is what you need to know about it.
The Arizona Association of Realtors (otherwise known as the AAR) provides a free 10-page Buyer Advisory to Arizona Realtors for home buyers to review. This document is a great resource for buyers to review before purchasing a property and is an excellent resource to follow when a buyer needs more information on inspections, environmental concerns, different purchasing documents and many other topics.
Your agent will also provide you with a copy to sign. Read it! Don’t just scan through it.
The online version is interactive and includes documents, websites you should familiarize yourself with. Looking through the Buyer Advisory frequently throughout your inspection process is a great idea because it is truly is designed to be a guide for buyers to look into items that may affect whether or not they want to go through with the deal.
The Buyer Advisory is made up of five sections.
The first section includes common documents a buyer should review, such as different disclosure forms, contracts and policies involved in the home buying process.
The second section describes common physical conditions in the property a buyer should investigate. This includes everything from the structure itself, to the pool, soil and even environmental factors.
The third section in the Advisory are conditions affecting the area surrounding the property the buyer should investigate. This includes environmental concerns in the area, zoning and schools.
The fourth section includes all the ways to learn about and get more information on a property. It encourages buyers to drive around the neighborhood and talk to neighbors.
The fifth section includes other resources and warnings.
As a buyer, you must communicate to the real estate agents involved in the transaction any special concerns you may have about the property or surrounding areas, whether or not those issues are addressed in the Buyer Advisory. Make sure that you are reviewing the most recent Advisory. Finding this resource online can be a great way to get familiar with the document, but make sure you go over it thoroughly, research the items that are material to you, and discuss with your agent anything that you might need help understanding further.