In Arizona, the seller's obligation to disclose the SPDS to the buyer must be fulfilled:
Why Within the timeframe specified in the purchase contract (typically 3-5 days after acceptance) Is Correct
Answer B: Within the timeframe specified in the purchase contract (typically 3-5 days after acceptance)
Exam Tip: Escrow & Title
Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.
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Key Terms to Know
A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Title InsuranceInsurance protecting against financial loss from defects in a property's title that existed before closing but were unknown at the time of purchase.
Closing CostsFees and expenses paid by the buyer and/or seller at the closing of a real estate transaction, in addition to the property's purchase price.
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