Question: We purchased a home in Tempe from an investor who had purchased the home at foreclosure, and then fixed up the home. In the purchase contract, there was attached an “as is” addendum and also language stating that we waived the seller’s property disclosure statement. Almost immediately after we purchased the home, we discovered problems with the air-conditioning. When we were complaining to our next-door neighbors about the air-conditioning, the wife said that the investor told her that he did not have the money to properly fix the air-conditioning. If our home was sold to us as is, and we waived the seller’s property disclosure statement, could we still have a claim against the investor if the investor failed to disclose the known failure to fix the air-conditioning?
See the answer at: http://www.azcentral.com/business/realestate/articles/20130808seller-home-liable-defect.html
More than 100,000 houses stood vacant across metro Phoenix barely three years ago — roughly one of every 10. Today, it’s more like one out of every 100.
The Cromford Report analyzed the top 20 zip codes with the highest percentage trustee sales (foreclosures) throughout the Phoenix metro area. All 20 zip codes are in West Phoenix, with 85043 (47th Avenue and McDowell) taking the number one position. The list also includes zip codes in the municipalities of Tolleson, El Mirage, Tonopah, Buckeye, Avondale, Laveen, Youngtown, and Surprise.
