Changes in Arizona Real Estate
The basic principles of Arizona real estate don’t change.
“The ownership, buying and selling of real estate is the cornerstone of the economy on both a large and small scale and is generally the largest financial investment most people ever make.
The real estate industry involves thousands of professionals including: real estate brokers and salespeople, title and escrow officers, mortgage brokers and bankers, property inspectors, surveyors, appraisers, engineers, and the numerous individuals, both in the private and public sector, involved in land-use planning.
The importance of insuring that the rights of individuals involved in a real estate transaction are protected cannot be overstated. Property ownership provides long-term financial stability for most Americans and is the foundation of communities.” – K. Michelle Lind, Esq.
Arizona Real Estate: A Professional’s Guide to Law and Practice – Third Edition (Kindle Locations 729-734). Xulon Press.
However, there have been many other changes in the real estate industry since 2011 – and even more since 2006! Those were the years in which the first and second editions of the book Arizona Real Estate: A Professional’s Guide to Law and Practice were published.
Now, with the assistance of Arizona REALTORS® Director of Operations Christina Smalls and Associate Counsel Nikki Salgat, the book has been updated and is now available in a third edition.
Some of the major changes in the book include:
- Chapter 4 – Broker Employment Agreements:
Information on teams, assistants and audits
- Chapter 7 – Interpreting the AAR Residential Resale Contract:
Information on the 2017 updates
- Chapter 8 – Residential Contract Related Forms and Other Addenda:
Information on 2017 updates
- Chapter 12 – Vacant Land Transactions:
Information on 2016 updates
- Chapter 14 – Sale of Manufactured and Mobile Homes:
Information on statutory changes and new forms
- Chapter 15 – Financing and Loan Defaults:
Information on VA Loans, FHA Loans, Conventional Loans and Seller Carryback Financing
- Chapter 25 – Miscellaneous Real Estate Issues:
Information on wire fraud prevention
For a more complete list of revisions, click here.
If you are relatively new to the real estate industry, or an industry veteran interested in staying abreast of these changes, you can order the third edition in e-book format here.
K. Michelle Lind is an attorney and the Chief Executive Officer for the Arizona Association of REALTORS®, the largest trade association in Arizona, representing approximately 50,000 members. She is the author of Arizona Real Estate: A Professional’s Guide to Law & Practice.