About This Chapter
Engaging in Arizona Real Estate - Chapter Summary
You must understand the specific real estate laws and requirements if you want to practice in the state of Arizona, and this chapter will teach you everything you need to know. Topics that will be covered in this chapter include:
- Difference between Arizona's real estate laws and national real estate statutes
- Arizona real estate commissioner duties
- Licensing requirements for Arizona real estate agents
- Relationship between consumer fraud protection and real estate
- Arizona water law
- Sale and purchase of real estate in Arizona
- Information about zoning, building codes, and warranties in Arizona
- Types of real estate ownership in Arizona
- Real estate property transfers in Arizona
- Finance and property tax
- Impact of foreclosure in Arizona
- Leasing and property management rules and regulations
Every lesson in this chapter is paired with a self-assessment quiz. This allows you to test yourself on what you have just reviewed and learned in the chapter. If you are ever stuck on a specific topic or lesson in the chapter, our professional instructors are here to help you. They can answer any questions you might have on the material.
1. Arizona Real Estate: Rights & Statutes
For real property in Arizona, licensed salespeople and real estate agents must abide by the rights and statues. The agent must follow the Arizona Constitution Article 26 and other specific laws relating to advertising, licenses, compensation, record keeping, documentation, agency relationships, and handling of funds.
2. Arizona Real Estate Commissioner: Duties & Powers
Arizona's real estate law was enacted to protect the public but the law can't enforce itself. That's the job of the real estate commissioner. Learn about the duties and powers of the Arizona state real estate commissioner.
3. Arizona Real Estate Licensing & Continuing Education
This lesson will teach you who has to be an Arizona resident in order to get their real estate license and who does not, as well as how your personal and professional conduct affects your ability to become licensed.
4. Arizona Real Estate Consumer Fraud Protection
One powerful legal protection for consumers is the Arizona Consumer Fraud Act. Sometimes called a 'deceptive practices' act, this statute requires sellers and their agents to engage in truthful advertising and honest negotiations. Learn about this act and how it can help consumers harmed by real estate fraud.
5. Arizona Water Law & Real Estate
There are several legislative acts and programs that govern and affect water laws in real estate transactions. The supply of groundwater and surface water (or lack of supply) is one of the biggest factors when buying real estate in Arizona.
6. Arizona Environmental Law & Real Estate
The state of Arizona complies with all federal laws and standards set in forth by the U.S. EPA, including CERCLA and SARA. Arizona also has specific requirements for real estate environmental hazards. The Arizona Department of Environmental Quality oversees many of these hazards as well as the cleanup of these contaminated real estate properties.
7. Arizona Real Estate: Property Descriptions & Disclosures
Many people may think that a property description is what they read in a real estate ad. What they may not think about is that below the home's surface is a piece of land with own unique description. In this lesson, we will explore the real description of a property and what a seller must disclose to a homebuyer in Arizona.
8. Arizona Real Estate: Ownership & Encumbrances
When it comes to purchasing real estate in Arizona, there are many important things to consider from the different types of ownership to encumbrances or liens to the common property law which can impact how marital income and property are treated.
9. Property Transfers in Arizona Real Estate
Perhaps you have heard someone say, 'I just closed escrow'. Learn how the escrow process works in Arizona to transfer real estate to a home buyer from a seller.
10. Arizona Real Estate: Finance & Property Taxes
In Arizona, real estate property tax rates and financial documents can be complicated. This lesson starts with understanding how effective property tax rates are used to compare the tax burden across the state. Property tax concepts, foreclosure, financing documents and escrow are also explored in detail.
11. Foreclosure in Arizona Real Estate
When the U.S. economy recently slipped into a recession, Arizona's real estate market was one of the hardest hit. Properties once sold to the highest paying homebuyer were being auctioned off to the highest bidder at foreclosure auctions. In this lesson, we will explore how the foreclosure process works in Arizona.
12. Arizona Real Estate: Leasing & Property Management
Arizona has many unique real estate rules that set it apart from other states. In this lesson, we'll review rules related to leasing and property management, landlord and tenant regulations, and more.
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Other chapters within the Arizona Real Estate Salesperson Licensing Exam: Study Guide course
- Property & Land Characteristics
- Air, Mineral & Water Rights in Real Estate
- Liens & Encumbrances in Real Estate
- Types of Property Ownership
- Real Estate Land Use Controls & Regulations
- Property Valuation & Appraisal
- Basic Real Estate Financing Terms & Concepts
- Types of Real Estate Loans
- Lending & Underwriting Processes
- Agency Relationships & Agreements
- Disclosures of Property Conditions
- Real Estate Sales Contracts
- Leasing & Property Management
- Real Estate Title Transfers
- Real Estate Practices
- Common Real Estate Calculations
- Arizona Real Estate Salesperson Licensing Exam Flashcards