Utah Buyer's Due Diligence Checklist
Utah Buyer's Due Diligence Checklist
Utah Buyer's Due Diligence Checklist
may be uninsurable, or may only be insurable at an increased cost. Buyer is also advised that Buyer's credit, insurance claims
history, and other issues (such as specific kinds of pets), may be factors in determining the availability and cost of homeowners
insurance. Buyer is advised to consult directly with insurance companies of Buyer's choice regarding the availability and costs of
homeowner's insurance for the Property.
9. TITLE ISSUES/HOMEOWNER'S ASSOCIATION: Buyer is advised that title insurance companies offer a variety of title
insurance policies that provide different levels of coverage. Buyer is advised to carefully review with legal counsel and with the
title insurer: (a) the available title insurance coverage; (b) the contents of any Commitment for Title Insurance on the Property;
and (c) the contents of all documents affecting the Property that are a matter of public record, including, but not limited to, any
restrictive covenants (CC&R's). If the Property is part of a Condominium or other Homeowners Association ("HOA"), Buyer is
advised to consult directly with the HOA regarding all HOA matters that may affect the Property, including, but not limited to,
existing and proposed budgets, financial statements, present and proposed assessments, dues, fees, reserve accounts, rules,
and meeting minutes.
10. PHYSICAL CONDITION: Buyer is advised to consult with appropriate professionals regarding all physical aspects of the
Property, including, but not limited to: built-in appliances; plumbing fixtures, lines, fittings and systems; heating, air conditioning
systems and components; electrical wiring, systems, appliances and components; foundation; roof; structure; exterior surfaces
(including stucco), exterior features and equipment; pool/spa systems and components; any diseased trees or other landscaping;
and moisture seepage and damage from roof, foundation or windows. Buyer is advised not to rely on seller, the Company, or any
agents of the Company for a determination regarding the physical condition of the Property.
11. SQUARE FOOTAGE/ACREAGE: If the square footage or acreage of the Property is of material concern to Buyer, Buyer is
advised to verify the square footage or acreage through any independent sources or means deemed appropriate by Buyer. In the
event the Company provides any numerical statements regarding these items, such statements are approximations only. Buyer
is advised not to rely on seller, the Company, or any agents of the Company for a determination regarding the square footage or
acreage of the Property.
12. UTILITY SERVICES: Buyer is advised to consult with appropriate professionals regarding the location of utility service lines
and the availability and cost of all utility services for the Property including, but not limited to, sewer, natural gas, electricity,
telephone, and cable TV. Buyer is advised that the Property may not be connected to public water and/or public sewer, and
applicable fees may not have been paid. Septic tanks may need to be pumped. Leach fields may need to be inspected.
13. WATER: Buyer is advised to consult with the water service provider for the Property and with other appropriate
professionals regarding the source, quality, and availability of water for the Property; and regarding all applicable fees and costs
(including, without limitation, connection fees, stand-by fees and service fees), use and regulatory restrictions, and ownership of
water rights and water system. Depending upon the location of the Property, the water service provider, and climate conditions,
water service to the Property may be interrupted. A well and well system may require inspection. Buyer is further advised that,
depending upon the location of the Property, State and local laws may impose specific requirements regarding the source, the
capacity, and the quality of water that will service new plat or building permit applications. Such water-related laws may directly
impact Buyer's ability to develop the Property and/or obtain a building permit for any improvements to the Property. Buyer is
advised to consult directly with applicable State and local authorities, and with legal counsel, regarding the content and potential
affect of such water-related laws.
14. GEOLOGIC CONDITIONS: Buyer is advised to consult with appropriate professionals regarding possible geologic
conditions at or near the Property. Such geologic conditions may include, but are not limited to, soil and terrain stability, the
existence of wetlands, drainage problems, and any building and/or zoning requirements relating to such geologic conditions.
15. MOLD: Buyer is advised to consult with appropriate professionals to determine the possible existence of mold in the
Property. Water leaks and water damage to the Property may result in mold that may have adverse health affects. Additional
information regarding mold is available through the EPA at: www.epa.gov.
16. HOUSING COMPLIANCE: Buyer is advised to consult with appropriate professionals regarding neighborhood or property
conditions including, but not limited to: schools; proximity and adequacy of law enforcement; proximity to commercial, industrial,
or agricultural activities; crime statistics; fire protection; other governmental services; existing and proposed transportation;
construction and development; noise or odor from any source; and other nuisances, hazards, or circumstances. All properties
will be shown without regard to race, color, religion, sex, national origin, handicap or familial status and any other requirements
of federal and state fair housing laws.
17. PROPERTY TAXES: Buyer is also advised that, depending upon present use, the Property may be taxed as "Greenbelt".
A purchase of the Property may change the Greenbelt status and the amount of property taxes assessed by the County. Such
change in Greenbelt status may also result in liability for roll-back taxes. If Buyer has any questions regarding County property
tax requirements, Buyer is advised to consult directly with the County Assessor's Office.
18. INCOME TAX/LEGAL CONSEQUENCES: Buyer is advised that this transaction has tax and legal consequences. Buyer is
advised to consult with appropriate legal and tax advisors regarding this transaction.
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Buyer Signature
Date
Buyer Signature
Date
This form is COPYRIGHTED by the UTAH ASSOCIATION OF REALTORS for use solely by its members. Any unauthorized use, modification,
copying or distribution without written consent is prohibited. NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ADEQUACY
OF ANY PROVISION OF THIS FORM IN ANY SPECIFIC TRANSACTION. IF YOU DESIRE SPECIFIC LEGAL OR TAX ADVICE, CONSULT AN
APPROPRIATE PROFESSIONAL.
COPYRIGHT UTAH ASSOCIATION OF REALTORS 1995 REVISED 3.6.14 ALL RIGHTS RESERVED
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UAR FORM 12