This form is a Contract for the sale of real estate for use in Arizona. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
Phoenix Arizona Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-00472
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arizona Contract For Sale And Purchase Of Real Estate With No Broker For Residential Home Sale Agreement?
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FAQ
In Arizona, selling your house without a real estate agent is possible, and it could save you a lot of money in agent commission fees. The average realtor commission rate in Arizona is 4.45% to 6.41%.
Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
Both parties have to agree on the price before the purchase agreement is signed. Furthermore, terms such as earnest money, escrow company, down payment, financing, warranties and contingencies, and the closing date will be outlined in the contract.
The right to timely and complete monetary payments for all products and services; The right to exclusive ownership and use of a product, label, or material; The right to resell or transfer ownership rights (although this right may vary with each agreement based on the specific circumstances); and.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
No, the state of Arizona doesn't require sellers to hire an attorney. However, it can be helpful to have legal guidance when reviewing offers, filling out paperwork, or working through the closing process.
A contract has six important elements so that it will be valid which is offer, acceptance, consideration, intention to create legal relation, certainty and capacity. If the main elements are not in contract, it would be an invalid contract.
There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts. They each have different uses and stipulations.
Although you aren't required to use a residential real estate attorney when buying, selling, or building a home, the law surrounding the process is complicated and it is often wise to at least consult with a lawyer to make sure you're informed about potential issues and roadblocks.
Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.