Condo Disclosure Information. Necessary if the sale of real estate is managed by a owners` association or a proposed condominium/commune. (Ariz. Rev. Stat No. 33-1806 – 33-1260) A contract to purchase and sell residential real estate in Arizona is a legal document that defines the terms of interest of a buyer for the purchase of property by a person wishing to sell that property. The seller and buyer (or their lawyers) negotiate the terms of the agreement, including the purchase price, closing date, real estate condition, etc. As a general rule, the buyer is asked to make a deposit or “serious money” to ensure that the seller is serious about the transaction. Once inspections have been completed, financing (if any) has been completed and all other contingencies are completed, the parties can sign the purchase and sale agreement to complete the deal. Of course, if you are overwhelmed with the lawsuit, I would be honored if you trust me to represent you in the sale of your home. If you are determined to sell your FSBO home, then I am limited in what I can help you.
I can`t compromise my license if I`m not part of the transaction, but I`ll do what I can. 9. Determine whether your state has requirements in a given language in home sales contracts. Check your state`s requirements for a certain language clause or information to be included in the sales contract. As a general rule, a buyer will work with a broker who will represent them when buying your home. They may not do so and in this case a copy of the sale through ownership contracts (sales contract) would be helpful. Whether the buyer works with a broker or not, you don`t want them to have seen a home purchase contract for the first time when someone makes an offer for your home. I advise you to download the Arizona Residential Purchase Contract. Read it, understand, if you have any questions, ask me. I hope you find this useful for sale through property contracts.
Sometimes there are other forms that are used, but this is rare. If something happens and you need another real estate contract, let me know, and I`ll do my best to find it for you. No promises, but I`ll try. What I cannot do is check or advise on the owner`s sales contract or the negotiation process, unless you present me to represent you. 7. Describe all contingencies. These will be events or conditions that must occur before the purchase is completed. These include the HOA addendum. This is another form that must be sent to your buyer within the inspection period.
In Arizona, it is usually ten days after the acceptance of an offer. The form is to inform the buyer of all the assessments of the house by the HOA, but also to determine who pays a transfer fee. Some homeowners` associations charge a tax when real estate is transferred, and some are ridiculously expensive. You can click with the right button on one of the links for sale by owner contract below and download the files directly to your computer. They are all PDF files, so you need free Adobe Reader to view them. Residential sales contracts generally contain promises and provisions that guarantee the condition of a property. Many states legally require sellers to deivate explicit information about the condition of a property. In states where this is necessary and where a seller deliberately conceals such information, they may be prosecuted for fraud. Property taxes. If the purchase of real estate is not in accordance with the tax plan, the taxes are divided pro-rata between the buyer and the seller. Notice on soil reclamation.
Before the transfer of the property, the seller is required to notify the buyer in writing of the refurbishment. (Ariz. Rev. Stat 33-434.01 and 49-701.02) C.L.U.E Report Form. You use the form to request the history of all insurance claims on your landlord`s policy. There is a small amount to get the company report (we do not receive compensation).