Sell Closure Property For Addition In Phoenix

State:
Multi-State
City:
Phoenix
Control #:
US-00447BG
Format:
Word
Instant download

Description

The Agreement for the Sale and Purchase of Residential Real Estate facilitates the process of selling a closure property for addition in Phoenix. This comprehensive form details the terms and conditions governing the sale, including a property description, the purchase price, financing contingencies, and closing cost responsibilities. Users need to fill in specifics like purchase price, cash down payment, and various fees, ensuring that all conditions are clear and agreed upon. Essential for real estate transactions, the form addresses potential issues like title defects and breach of contract, providing remedies for both sellers and buyers. This document is useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it outlines critical obligations and rights while ensuring compliance with local laws. Each section is designed to be straightforward, allowing users to navigate easily through the contract details, facilitating communication between involved parties. Additionally, clear instructions on deposit requirements, closing dates, and property condition assessments ensure that all parties are informed and protected throughout the transaction.
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  • Preview Agreement for the Sale and Purchase of Residential Real Estate

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FAQ

Yes, you could attempt to sell as-is but as I noted, above, you'd have to disclose the permit issue to the prospective buyers and you'd likely not get as much for the property as you'd otherwise get if it had all its permits.

How long are you liable after selling a house in Texas? Sellers can be held responsible for hidden defects known to the sellers for up to four years after the sale if they fail to disclose them beforehand.

Selling houses with a damaged foundation is legal as long as you are transparent about the problem to any potential buyers. It's important that you show the home inspection report to anyone who puts in an offer so that they are aware of the scope of the issue.

Yes, you can sell a house with unpermitted work, and you are required to disclose to buyers any known unpermitted work done on your house, even if it was done by previous owners.

While selling a house with unpermitted work is not ideal, it is possible. Most jurisdictions require sellers to disclose known issues with the property to potential buyers, including any unpermitted work. Failure to disclose such information can lead to legal action from the buyer, including lawsuits for nondisclosure.

NO PERMIT REQUIRED FOR: Replacement of any switch, receptacle, fuse, fan, light fixture or similar equipment that does not alter mechanical, electrical or plumbing systems. Ordinary, minor nonstructural repair(s) or remodeling such as painting, papering, siding and similar finish work.

Non-compliance can result in fines, penalties, and legal action. Municipalities can impose significant fines for building without a permit, and individuals face additional fees for retroactive permits. Permits ensure compliance with safety standards.

Open permits fall into this category, and in Ontario, courts have ruled that having an active permit is a valid reason for a buyer to back out. But it doesn't stop there. If you don't disclose these open permits (or any related property defects), you could find yourself facing lawsuits in the future.

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Sell Closure Property For Addition In Phoenix