Arizona Real Estate Purchase Agreement Form

Consider this document as a roadmap for the period between the signing of the contract and the conclusion of the sale. Treuhandservice: Escrow is a neutral third party responsible for holding funds during the purchase transaction. Serious money deposits are usually deposited on Treuhand. Escrow offers protection to both parties as long as the contractual risks are still outstanding. For example, a buyer could deposit their serious money deposit in trust until a home inspection is complete, and be sure that if there are problems with the inspection and the buyer decides not to proceed with the contract, he or she will recover the serious money deposit from the fiduciary party. Material Facts (151 Ariz. 81, 725 p.2d 1115 (Ct. App. 1986)) – According to the court proceedings “Hill v. Jones” must be disclosed prior to the performance of the contract all known essential facts concerning the property. The Arizona Association of Realtors offers a standard Form SPDS (Seller`s Property Disclosure Disclosure Statement) which is linked in the disclosure title above. After seeing House Hunters on HGTV for years, it`s finally your turn to find the perfect home. Or you bought a dilapidated house, put your money and sweat into the repair and you are now ready to put it up for sale.

Either way, once you`ve found the perfect home or buyer, make sure you have a written agreement to make sure it goes smoothly to the conclusion, and you`ll know what to do when it comes on the way to hiccups. Serious money deposit: A serious deposit is a deposit that shows the good faith and obligation of the buyer to continue the purchase of the property. In return for the buyer`s serious money deposit, the seller withdraws the property from the market. At the end of the purchase, the deposit of serious money is charged to the purchase price. When the contract is terminated in accordance with the terms of the contract, the serious deposit is usually returned to the buyer. Military Airport (§ 28-8484) – All real estate contracts relating to the sale of residential real estate located in the immediate vicinity of a military air station must be provided with a declaration of this information. Swimming pool (§ 36-1681 (E)) – When a residential property contains a swimming pool, the seller is required to include in the content of the contract of sale a disclosure describing the obligations related to the possession of a pool, as well as educational information in accordance with the standards of the Ministry of Health. A real estate purchase agreement does not really transfer ownership of a house, building or land. Instead, it provides a framework for each party`s rights and obligations before the legal transfer of ownership can take place. Condominium / planned community (§ 33-1806 & § 33-1260) – For developments of less than fifty (50) units, the owner of an apartment is responsible for providing the buyer with paperwork concerning the building report as well as all essential contact information.

If the project contains fifty (50) units or more, the owners` association is required to disclose the necessary information….