Does the loss of surrounding areas give buyers a right to cancel the contract?
Particularly in resort areas, such as mountain and coastal towns, natural beauty is a big part of the attraction. But that doesn’t mean buyers can escape a contract just because they’ve lost their great view. The Arizona contract provides that, after the inspection period expires, if the property is undamaged by fire and is in substantially the same condition, the buyer is obligated to close, despite damage to the surrounding area. However, if damage to the surrounding area is so severe that the value of the property goes down, the buyer may not be able to obtain financing, which would result in a failed financing contingency. REALTORS®mobilize help for firefighters, victims When the Rodeo-Chediski wildfires struck in June, Kimberly Horn, first vice president of the Arizona Association of REALTORS®, sprang into action. Horn, of ERA National Realty of Arizona in Prescott, first concentrated on helping the Salvation Army provide money and materials to the firefighters. She negotiated wit
