Option to Purchase - Residential: This form is an agreement between an Owner of land and an Optionee. In this contract, the Owner gives the Optionee the opportunity, or option, to purchase his/her property at a specific price, during a limited time frame. The Option to Purchase must be signed by both parties, in front of a Notary Public, in order to be valid. This form is available in both Word and Rich Text formats.
Phoenix Arizona Option to Purchase - Residential
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-SALES-6
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Phoenix is without a doubt one of the best places you can invest in real estate right now. Property prices are going up, the rent-to-price ratio is great, and the population is steadily increasing due to the great quality of life Phoenix offers!
You need to make $87K a year to afford average home in Phoenix.
Making a down payment in Arizona You'll need to earn less than $112,785 per year and satisfy a few other conditions. Be sure to ask your real estate agent for advice, too. In some cities, buyers can get additional down payment assistance if they are purchasing a home in a designated low-income neighborhood.
Home values in AZ have risen by 54.2% over the past two years and 93.2% over the past five years. The housing analysts provide an optimistic housing market forecast for the Arizona region until 2023. Zillow's prediction for Phoenix MSA is a 2.5% growth in home prices between Aug 2022 and Aug 2023.
8 Steps to Buying a House in Arizona Step 1: Save for a down payment.Step 2: Find a great real estate agent in Arizona.Step 3: Get preapproved for a mortgage.Step 4: Choose the right location.Step 5: Start house hunting in Arizona.Step 6: Make an offer.Step 7: Inspections and appraisals.Step 8: Close on your new home!
As previously reported by Newsweek, Phoenix was named by Moody's Analytics as among the top five cities in the U.S. with overvalued homes.
It can be a profitable property investment opportunity if you can find a good deal. A long-term investment in Phoenix real estate will yield even greater profits. Phoenix-Mesa-Scottsdale Metro home values have gone up 22.1% over the past year and they will continue to rise at a similar pace in the next twelve months.
Phoenix is one of the best cities in which to invest. However, in addition to Phoenix itself, many of the surrounding neighborhoods are highly desirable for investment properties.
Typical Expenses 1 ADULT2 ADULTS (BOTH WORKING)0 Children3 ChildrenRequired annual income after taxes$30,192$89,753Annual taxes$6,312$19,862Required annual income before taxes$36,504$109,6157 more rows
Making a down payment in Arizona You'll need to earn less than $112,785 per year and satisfy a few other conditions. Be sure to ask your real estate agent for advice, too. In some cities, buyers can get additional down payment assistance if they are purchasing a home in a designated low-income neighborhood.