This form is a Contract for the sale of real estate for use in Arizona. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
The Mesa Arizona Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding agreement used in the state of Arizona for the sale and purchase of a residential property without the involvement of a real estate broker. This agreement ensures that both the buyer and seller are protected and have a clear understanding of the terms and conditions of the sale. Key elements of the Mesa Arizona Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement include: 1. Identification of Parties: The agreement begins by clearly identifying the involved parties, including the buyer and seller, along with their respective contact information. 2. Property Description: A detailed description of the residential property is provided, including the address, legal description, and any additional information necessary to accurately identify the property. 3. Purchase Price and Payment Terms: The agreed-upon purchase price of the property is stated, along with the payment terms, such as the down payment amount, financing arrangements, and any applicable contingencies. 4. Closing and Escrow: The agreement outlines the closing date, which is the date when the transfer of ownership and possession of the property will occur. It also addresses the use of an escrow agent or title company to handle the closing process and the distribution of funds. 5. Title and Inspection Contingencies: The agreement may include contingencies related to the title search, title insurance, and property inspection. These contingencies give the buyer the opportunity to review the property's title history and conduct inspections to ensure its condition meets their satisfaction. 6. Disclosures: The agreement may require the seller to disclose any known issues or defects with the property, including but not limited to structural problems, water damage, pest infestation, or any other material defects. 7. Earnest Money: The agreement may stipulate the amount of earnest money, a deposit made by the buyer to demonstrate their seriousness about purchasing the property. It also outlines the conditions under which the earnest money can be refunded to the buyer or released to the seller. Different types of Mesa Arizona Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement can include variations based on specific circumstances or preferences, such as: 1. As-Is Agreement: This type of agreement specifies that the property is being sold in its current condition, and the seller is not responsible for any repairs or improvements. 2. Lease-to-Own Agreement: This agreement gives the buyer the opportunity to lease the property with an option to purchase it at a predetermined price within a specified timeframe. 3. Seller Financing Agreement: In this type of agreement, the seller acts as the lender, providing financing to the buyer for the purchase of the property. The terms and conditions of the loan are outlined within the contract. 4. Contingency Agreement: This agreement includes specific conditions that must be met before the sale is finalized, such as the buyer securing financing, selling their existing property, or obtaining a satisfactory home inspection. In conclusion, the Mesa Arizona Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a comprehensive legal document that outlines the terms and conditions of a residential property sale. By using this agreement, both buyers and sellers can ensure a smooth and transparent transaction while protecting their rights and interests.
