Read the purchase contract carefully. Note where the builder or developer is placing earnest money (ie.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. Get a comprehensive understanding of Arizona real estate purchase and sale agreements with our indepth overview and free template. How to properly fill out the Arizona Association of Realtors Resale Purchase Contract using Dotloop. Arizona Purchase Contract Training. 1. Enter buyer's and seller's names. Typically, a real estate agent will work with the buyer to complete the agreement and come up with a purchase price to include in the contract. In the event Buyer fails to obtain Seller's approval, this Agreement shall be terminated with the Buyer's Earnest Money being returned within five (5) business. An Arizona purchase agreement facilitates the sale of real estate for an agreedupon price between the buyer and seller.