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. Read the purchase contract carefully.Note where the builder or developer is placing earnest money (ie. 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. This particular contract dictates the purchase and sale of real estate in Phoenix and throughout the state. Confirm your ability to obtain insurance and insurability of the property during the inspection period with your insurance agent (see Sections 6a and 6e). A For Sale By Owner contract Arizona must include: 1. The Purchase Price, 2.