Arizona Residential Purchase And Sale Agreement

April 8, 2021

Unincorporated Areas – People who sell 5 parcels or less in a “non-communal territory” must submit an affidavit to the buyer within at least seven (7) days prior to the exchange. Once you have found the home you want to buy, you and your broker will pass on some information needed to write the contract online. Your agent will prepare the necessary documents to make an offer for a home officially available. You should check the documents and make sure they present your best interests correctly. You will sign the offer to purchase and your agent will present it to the seller`s representative at the same time as your mortgage pre-qualification letter. The Arizona Residential Real Estate Purchase Contract (“Home Purchase and Sale Contract”) is a legally binding contract between the buyer and seller for the purchase of a residential property. The agreement indicates the amount to be paid to the seller, the buyer`s financing information and the closing date of the transaction. As a buyer, you must always act honestly and sincerely with the seller. If you make an offer to buy, you must be prepared to close the transaction. If you know there is a potential that you cannot close for any reason, you must provide this information to the seller in advance.

A treaty is actually a series of signed promises. Be prepared to keep your promises. As the name suggests, this document is used when buying or selling a house by short sale. We believe it is important for buyers and sellers to read the home purchase contract before making or receiving an offer. So we have a PDF contract template that you can see. In this article, you`ll find a link to this topic below. Condominium/Projected Community (No. 33-1806 – No. 33-1260) – For developments consisting of less than fifty (50) units, the owner of a dwelling is responsible for making available to the buyer the documents relating to the construction protocol as well as all essential contact information.

If the project consists of fifty (50) units or more, the owners` association is required to disclose the necessary information. (This must be notified to the buyer within 10 days of receiving written notification of a pending sale.) The sale contract in Arizona is made during the indefinite property exchange via a real estate at a monetary value that occurs between the owner and the person who buys the apartment. Specific information and information should be stored inside the instrument to ensure that the document is valid. This information would be the identification of the buyer-seller, details of the real estate that is purchased, and the type of financing used in the transaction.