SPDS (Seller Property Disclosure Statement)  | Tips for Sellers - YouTube

What is an SPDS? It's a Seller Property Disclosure Statement and if you're

selling your Arizona home, you need these tips!

Hey everyone! Welcome back! I'm Lindsay

with the Wise Move AZ Team at Realty ONE Group. If you want to stay up to date on

all things Anthem and real estate then you need to hit that subscribe button!

Pro Tip: You're also going to want to hit the little bell icon so that you're the

first to know when our new videos are posted every single Thursday! As your

Anthem, Arizona REALTOR®, I have worked with a number of families to ensure a

smooth sale of their home. A lot of work goes into getting your home ready to

sell and one of the key pieces is the Seller Property Disclosure Statement. You

may hear the Seller Property Disclosure Statement referred to as the SPDS or the

"Spuds". Truthfully, it doesn't matter what you or your agent call it, as long as you

take it seriously. At the end of this video I'll give you access to a copy of

the Seller Property Disclosure Statement, so that you're well prepared when the

time comes to sell your Arizona home... so stick around! The SPDS is designed to

protect you, the seller. It gives you the opportunity to disclose things about

your home to potential buyers so that they can make informed decisions. Why do

you want to disclose things about your home? Easy! So that you don't get sued!

Sellers are legally obligated to disclose all known material facts about

the property to the buyer. Also, on a lighter note, putting everything in

writing and handing it over to potential buyers can reduce the number of

questions you'll have to field. It's a win-win, I promise! The SPDS is an

eight-page document and it will ask you about your ownership, building and safety

information, utilities, environmental information, sewer, wastewater treatment,

and so much more. The key to the SPDS is when in doubt disclose, disclose, and

disclose some more. With all that being said,

here are our top five tips to help you, the seller, put together your SPDS successfully.

#1: Take your Time. We require that our clients provide us with a

completed copy of the SPDS prior to activating their listing. The reason we

do this is not because we're mean, it's because the completed SPDS is due to

the buyer within three days of contract acceptance, and trust me when I say you

don't want to be rushing to fill out the SPDS, while you also have the added stress

of negotiating an offer. If you fill it out prior to listing your home you can

take your time and do it right. We often encourage the sellers to work on their

SPDS while we're busy working on the marketing materials for their home.

#2: Don't Guess. If you don't know the answer to one of the questions on

the SPDS research it, if you still can't find the answer leave it blank... do not

guess! This may apply to things done by a previous owner like repairs or upgrades.

Give as much information as you possibly can and then move on! #3: Tell

the Truth. Do not lie on your Seller Property Disclosure Statement. I cannot

stress the importance of this enough. One area where sellers seem to struggle with

telling the whole truth is the pest section. Termites and scorpions are a

fact of life here in Arizona and they are not a deal breaker, if they've been

properly treated in the past. Trust me when I tell you, if a buyer is going to

walk away because you had a scorpion in your house, they were bound to flake

because of something else and it's better to get rid of them as early in

the process as possible. I'm always a bit leery of a SPDS that

says they've never had any pests. Like I said, scorpions and termites are a fact

of life here in Arizona. I guess it's the price we pay for living in such a

beautiful place. We like to say it's not IF you have termites but WHEN. So, no

matter what, tell the truth on your SPDS. #4: Don't be Afraid. I

hope I'm not coming across all doom and gloom about this document. I really

don't want you to be afraid to fill it out. It's a great document that helps the

home-buying process go smoother. It is very uncommon for a buyer

to cancel the contract based on the SPDS. Like I said before if they're

going to walk away because there was a leak that you fixed or a termite tube that

was treated, they're probably going to walk away based on the inspection report

anyway, so better to get rid of them sooner rather than later!

#5: Fill it Out Yourself. This one is so important! Smokey the Bear says

only you can prevent forest fires, well Lindsay the REALTOR® says: 'only you can

fill out the SPDS'. But seriously, you need to fill the SPDS out yourself. Your

REALTOR® can't fill it out for you so don't ask!

It's your legal obligation to fill this form out to the best of your abilities.

It's your signature and your reputation on the line, so take it seriously.

That being said, if you follow the five tips we just mentioned your Seller

Property Disclosure Statement is going to be awesome! If you take your time and

fill this out properly, it's a document that you should be proud to hand over to

the future buyer. So, what do you think? Are you ready to get to work on your

Seller Property Disclosure Statement? If so, give me an 'I'm ready' in the comment

section below. If you'd like to view a blank copy of the SPDS to help you get

started simply click the link in the description box below. If you enjoyed

this video, let me know by clicking that like button, subscribing to our Channel,

and sharing this video with your friends. See YOU next Thursday