We all have experienced the added stress that comes with buying a new home. One way to accomplish an effortless purchase is by simply understanding the concept of Seller Warranted Items in the Arizona purchase contract.
If you are working with a Realtor and using the AAR Residential Purchase Contract, the Seller “warrants” (guarantees) that the following systems will be in working order:
- heating
- cooling
- mechanical
- plumbing
- electrical systems
- swimming pool and/or spa, motors, filters, cleaning systems, and heaters
This means that if, in your home inspection process, you discover that any of these items are not working, you do not need to negotiate their repair with the Seller – the Seller has already agreed that these items will be working.
Did you just sigh a breath of fresh air? Wait, there’s more.
- the Seller also warrants that the free-standing range/oven, and built-in appliances will be in working condition.
- any agreed upon corrections or repair items from the buyer’s inspection notice (BINSR) will be completed prior to possession.
Your important role as the Buyer, with the help of your real estate agent, is to notify the Seller of any non-working warranted items discovered during your inspections. Once you put the Seller on notice of these items, they have to be corrected (except in the event of a short sale or lender-owned property.) Easy enough, right?
And even after your final walkthrough, you may find yourself lying awake at night wondering in what condition you may find your new home on move-in day.
No worries: in the purchase contract, the Seller agreed that.
- all personal property not included in the sale and all debris will be removed from the premises.
- the property is guaranteed to be in substantially the same condition as when your offer was accepted.
So, make sure you work with an experienced real estate agent with a strong knowledge of the Arizona purchase contract when buying your next Scottsdale home. Not only can they explain your protections under the Seller Warranted Items section of the contract, they can make sure that the Seller also understands their obligations, which will save you from unnecessary headaches during the escrow process and after the closing.
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