Wednesday, July 28, 2010

These New Real Estate Laws Could Affect You. Are You In The Know?

The bills summarized below can be viewed in greater detail at www.azleg.gov. Type the bill number in the upper right corner, and the site will bring up different versions of the legislation as it made its way through the process. You can also see voting records of your lawmakers. Thanks for taking the time to read the legislation below so that you can be in the know.

2010 AAR Legislative Issues.

HB2345: HOA; Condos; For Sale Signs – Homeowner and condo associations are prohibited from banning the display of temporary open house signs, except in common areas. Furthermore, they’re prohibited from regulating a property owner’s “for sale” signs that conform to the industry standards and are owned or used by the seller or the seller’s agent, nor can they require a particular sign. Further, they may not regulate open house hours except for restricting the hours to after 8 a.m. or before 6 p.m. Nor can they prohibit display of “for lease” signs unless the association does not allow leasing of units.

HB2371: Home Inspections – Swimming pools and spas are included in the list of items that a certified home inspector is to examine during a home inspection.
HB2450: Water and Wastewater Fees and Charges – Prohibits a municipality from refusing service or requiring payment for unpaid water and wastewater services from anyone other than the person contracted with the municipality.

HB2766: Tenant Notice; Foreclosures – If the landlord of a residential property of not more than four connected units that is under foreclosure leases a unit, the landlord must provide each tenant with written notice of possible foreclosure. Form of the notice is prescribed and includes, if known, the date, time and place of the foreclosure sale. If a landlord fails to comply with the notice requirement, the tenant may deliver a notice of breach of agreement and recover damages and obtain injunctive relief.

HB2768: Real Property Transfer Fee Covenants – Prohibits private transfer fees paid to developers or third-party companies on the sale of real property. This legislation targets a specific and new type of transfer fee, not those paid homeowner associations. Government-imposed transfer fees are already prohibited by the 2008 constitutional amendment drafted by AAR and passed by the voters.

SB1219: Real Estate Licensee - Conforms the time a real estate license is valid to the time period for completing education requirements (two years). It allows a licensee to cancel his/her licensee, defines business broker and requires a valid fingerprint clearance card before applying for a license.

I hope that you find this information useful. If so, please remember me when it counts, when you are buying or selling a home/investment property, or when you are talking to your friends about a real estate company, that you would recommend my company. I am committed to earning your business, and always appreciate the opportunity to be of assistance to you and those you care for most.

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