How many days does a seller have to provide the Seller's Property Disclosure Statement after receiving the purchase contract?

The correct answer is that a seller has to provide the Seller's Property Disclosure Statement within three days or according to the agreement, which is grounded in Arizona real estate practice. This requirement is set to ensure that the buyer receives important information about the property in a timely manner, allowing them to make informed decisions.

In Arizona, the agent or seller is generally required to provide this disclosure statement to the buyer shortly after the acceptance of the purchase contract, typically within three days. However, if the parties have agreed to a different timeframe in the purchase contract, that specified timing can take precedence, thus allowing flexibility based on the agreement. This ensures that the transaction remains clear and fair for both parties involved.

Timely disclosure of property conditions helps to maintain transparency and protect the buyer from unexpected issues that may arise later in the transaction. Therefore, understanding and adhering to this requirement is crucial for compliance and ethical practice in real estate transactions.