Since September 12, 2026, condo sales in Arizona have run on a revised resale disclosure statute. Once a buyer's offer is accepted, a 10-day delivery window now applies to a packet that is considerably thicker than before. It now includes recent board minutes, the association's insurance certificates with deductibles, and a statement on whether a corporation or LLC owns and leases 35% or more of the units. How many units the building has decides who delivers that packet and whether the 10 days start at acceptance or at the association's receipt of the seller's notice. Across the Biltmore's condo stock, that number ranges from a dozen to a few hundred.

The change came from HB 2397, chaptered as Chapter 249, Laws 2026, which the Governor signed and filed on June 22, 2026. It has no special effective date, so it took effect on the session's general effective date of September 12, 2026. The new rules apply to any Biltmore condo listing that goes under contract this fall.

Fifty units is the line, and the Biltmore sits on both sides of it

Under the amended A.R.S. 33-1260, a condominium with fewer than 50 units puts the job on the selling owner. The owner has to send the required information to the buyer or the buyer's agent within 10 days after the offer is accepted, either electronically or on paper. At 50 units or more, the seller sends the association written notice of the accepted offer with the buyer's name, email address and mailing address. The association then has 10 days from receiving that notice to deliver the packet. The planned-community statute, A.R.S. 33-1806, uses the same 50-unit split. Under the old law, the 10 days started at "written notice of a pending sale." The new trigger is acceptance of the offer.

Here is how the threshold maps onto established communities around the Camelback Corridor, using unit counts published in local community profiles:

Optima's own project page confirms the count for Optima Biltmore Towers: 230 residences in two 16-story towers, completed in 2006. The other counts come from directory profiles. They are a starting estimate, and the recorded declaration and plat are the real authority. That distinction matters most at Esplanade Place, a high-rise at 24th Street and Camelback that sits six units above the line. It also matters at the Alfred Beadle-designed Camelback Place and the other small communities. In those, the selling owner gathers the package, and the 10 days start the day the offer is accepted.

What lands in those ten days is new reading material

Some of the packet carries over from the old law. Bylaws, rules, the declaration, the operating budget, the most recent annual financial report, the reserve study and a summary of pending lawsuits were already required. The amended statute adds items that show how a building is actually run:

1. Minutes from the previous three open board meetings, as approved by the board, plus the final plat if one is available.
2. Insurance certificates showing the association's coverage limits and deductibles. The old statement about whether association insurance covers part of the unit stays.
3. Special assessments in the pipeline. This covers the remaining installments on assessments already billed, along with the amount and purpose of any special assessment the board has approved but not yet billed, or has put to an owner vote in the previous four months.
4. Known material deficiencies in common or limited common elements that could leave the buyer with directly assessed repair costs within six months of purchase.
5. Declarant control, meaning whether the developer still controls the association and roughly what percentage of units it owns.
6. Concentrated leasing, meaning whether any corporation or LLC owns and leases 35% or more of the units.
7. Liens, lis pendens, transfer fees and cited violations tied to the unit.

The packet also includes an acknowledgment for the buyer to sign at closing. It states that assessments are mandatory and that unpaid assessments can lead to collection action up to foreclosure, "without the equity protection of the homestead act."

In a high-rise like Optima Biltmore Towers or the Residences at 2211 Camelback, the insurance certificates and the board minutes tell the most about the building. A master policy deductible shows how much risk the association carries before coverage applies. Minutes from three meetings show what the board has been discussing, whether that is elevator work, roofs or reserve planning, before any of it becomes an assessment. Buyers used to piece this together on their own. Now it arrives in the escrow file.

The law also changed the standard for when a disclosure error creates liability. A purchaser or seller who is damaged can pursue remedies against the owner or association that knowingly or recklessly failed to disclose required information or gave materially false or misleading statements. The information itself rests on good-faith reliance on association records "without the need for independent investigation or validation." The former statute did not state that mental-state threshold. In practice, the packet reflects what the association's records say, so reading it closely during escrow falls to the buyer and the buyer's agent.

A slower condo market gives buyers time to read the packet

The timing matters because of how condos are trading right now. In August 2026, townhouses and condos in the Phoenix REALTORS® service area averaged 98 days on market, compared with 79 days for single-family homes. The August 2026 median sale price for townhouses and condos was $319,950, down 6.7% year over year. The single-family median was essentially flat at $474,995. For the week ending September 26, 2026, active townhouse and condo inventory stood at 4,193 listings, up 5.5% from a year earlier.

These are metro figures, not Biltmore-only figures. Still, they describe the conditions Biltmore condo sellers are listing in. Buyers have more choices and less pressure to waive things to win a deal. A buyer who finds a high deductible on page two of the insurance certificate, or a roof discussion in the August minutes, has room to ask about it within the contract's due diligence terms. Because the new trigger is acceptance, that information comes out after both sides have agreed on price and before the deal closes.

For sellers, the practical move is to have the packet ready before an offer comes in. In a building under 50 units, the 10-day obligation belongs to the owner. Having the minutes, budget, reserve study and insurance certificates collected in advance keeps a missed deadline from becoming the buyer's question. In larger buildings, the seller's job is the written notice with the buyer's contact details, sent promptly so the association's 10 days start on time.

Fees stay capped, and a form change in November shifts who covers surprises

HB 2397 did not change the fee caps. The association may charge the unit owner up to $400 in total for resale disclosure, lien estoppel and related transfer services, plus up to $100 for rush service within 72 hours and up to $50 for an update once 30 days have passed. These fees are collected no earlier than closing, and an association that charges unauthorized fees faces a civil penalty of up to $1,200. A CHD Law summary circulating since the bill passed says these fees can go to either party. The statute text itself says "the unit owner," so the codified language is the reference point.

The larger near-term change is in the contract forms. On or about November 1, 2026, the Arizona REALTORS® will release a revised version of the form, renamed the H.O.A. Condominium/Planned Community Notice and Addendum. According to the Arizona REALTORS® announcement, page two was already amended about a month earlier to reflect the new law. The November revision responds to HOAs that report fees inaccurately or change fee names and amounts during escrow. The association calls one change the most significant. The buyer will set a total dollar amount they will contribute toward transfer fees, capital improvement fees and other fees, and the seller pays any remainder "regardless of whether the fee amounts listed on page 1 are incorrect or left blank." Under the revision, if the seller hasn't already provided page 1, the seller must deliver it within 3 days of contract acceptance. Capital improvement fees can be listed as a flat amount or as a percentage of the purchase price.

For a Biltmore seller listing in late October, both changes fall within a single escrow. The statute sets when the packet arrives. The November form sets who absorbs a fee the HOA reported wrong.

Why declarant control matters at 2400 Biltmore

New construction is where the declarant-control item matters most. JDM Partners' 2400 Biltmore, at the northeast corner of 24th Street and Arizona Biltmore Circle, was first proposed in 2025 with up to 203 mid-rise condos. A February 2026 city staff memo revised the plan to 195 dwellings and 7,000 square feet of office space. Phoenix City Council approved it on February 4, 2026, as the Arizona Republic reported. The sources we reviewed do not confirm a construction start, sales launch or pricing.

Once a building like that sells out, early resales will be the first transactions where buyers see, in writing, whether the developer still controls the association and how many units it still owns. The statute now requires both.

Quick answers

Does the new law apply to a contract signed before September 12, 2026? The law took effect on the general effective date. How it applies to escrows already open on that date is a question for the transaction's escrow and legal advisors.

Can the buyer see the full reserve study if the HOA sends a summary? Yes. For reports longer than ten pages, the association may provide a summary. The packet must state that the buyer can request the full report, and the association must provide access within 10 days of a written request.

What if a unit is under more than one association? The packet has to say so and note that each association's disclosure report and fee applies.

If you're planning to list a Biltmore condo this fall, The Taege Team can help you figure out which side of the 50-unit line your building falls on and get the packet ready before the first offer arrives. Request a free home valuation, and we'll include a look at your building's disclosure timeline.

This article is general information, not legal, tax or financial advice. Consult a qualified professional about your situation.