An Arizona residential purchase agreement is a legal document outlining the terms and conditions for a buyer's purchase of residential property from a seller. In this article, we will talk about the Arizona real estate purchase agreement and mandatory disclosures that sellers must make prior to the sale.Confirm your ability to obtain insurance and insurability of the property during the inspection period with your insurance agent (see Sections 6a and 6e). An Arizona purchase agreement facilitates the sale of real estate for an agreedupon price between the buyer and seller. 1. Enter buyer's and seller's names. A For Sale By Owner contract Arizona must include: 1. The Purchase Price, 2. Description Of Property: An Arizona real estate purchase contract must also describe the property sold in the transaction. Residential Resale Transaction Forms.