The Contract of Sale
Unlike many other parts of the country where contracts are either crafted by attorneys to fit the specific situation or are standardized (but subject to an extensive post-negotiation review), Arizona is blessed with a situation in which standardized contracts, provided by the Arizona Association of Realtors, are used for more than 98% of all residential real estate transactions.
The value in this procedure is that the contract has been fully vetted by its continuous
use and, for the most part, protects the rights of both buyers and sellers equally.
It also means that the negotiations on the sale of the property are focused on the
actual terms of sale and not on the efforts that each party might make to gain an
advantage through the insertion of some deftly crafted clause.
However, this procedural advantage notwithstanding, it is still essential that buyers and sellers be both familiar with the contract terms and vigilant in its completion and execution.
Toward that end, prospective buyers are encouraged to click on the image above,
read through the contract at their leisure and then call or email me if there are
any questions regarding interpretation. While I’m not an attorney, I am quite familiar
with the generally accepted interpretations of the document by virtue of having
negotiated hundreds of sales over the years. Should additional insight be required,
I generally refer my clients to a real estate attorney who can assist them.
I also offer a copy of an excellent publication called "The Top 10 Things the Home Buyer Should Look For in the Purchase Contract." Simply contact me and it will be
in the mail the very next day.
A good Realtor is one who helps demystify the process for her client and a little
bit of early education can make the process so much more pleasant. Please take advantage
of the offer!