Purchase Contract; Receipt - Residential: This contract contains the details and duties of each party, both Buyer and Seller, when purchasing residential property. Both the Buyer and Seller must sign this document in front of a Notary Public, stating that both understand his/her duties, with respect to the purchase of the residential property. This form is available in both Word and Rich Text formats.
The Phoenix Arizona Purchase Contract and Receipt — Residential is a legally binding document used in real estate transactions within the state of Arizona, specifically in the city of Phoenix. It serves as a written agreement between the buyer and seller outlining the terms and conditions of the purchase of a residential property. This contract is crucial in ensuring a smooth and fair transaction for both parties involved. The Phoenix Arizona Purchase Contract and Receipt — Residential contains various sections that cover all the necessary details related to the sale. These sections include: 1. Parties: Identifies the buyer(s) and seller(s) involved in the transaction by providing their names, addresses, and contact information. 2. Property Description: Specifies the address and legal description of the residential property being sold. This section also allows for any attached fixtures or personal property included in the sale to be listed. 3. Purchase Price: States the agreed-upon sales price for the property. It may also include provisions for earnest money, down payment, and financing terms. 4. Financing: Specifies the buyer's method of financing the purchase, such as obtaining a mortgage loan or paying in cash. It may also outline the buyer's right to opt-out if unable to secure financing. 5. Contingencies: Includes any contingencies or conditions that must be met before the sale can be completed. Common contingencies may involve satisfactory home inspections, appraisal, or obtaining homeowner association documents. 6. Disclosures: Requires the seller to disclose any known issues or defects regarding the property. This may encompass previous repairs, lead-based paint, or other potentially relevant information. 7. Closing Costs: Outlines the responsibility for various closing costs, including fees for title insurance, escrow, and recording. 8. Closing Date: Sets the exact date when the sale will be finalized. This date is typically when the transfer of ownership occurs, and the buyer takes possession of the property. 9. Default and Remedies: Describes the consequences if either party fails to fulfill their obligations outlined in the contract. It may include provisions for damages, termination of the agreement, or specific performance. 10. Additional Terms and Signatures: Allows for any additional terms or conditions to be added to the contract and requires the signatures of all parties involved to indicate their agreement with the terms. It is important to note that there may be different versions or variations of the Phoenix Arizona Purchase Contract and Receipt — Residential, depending on the specific requirements or preferences of the parties involved, as well as any applicable state or local laws. These variations may address unique clauses or specific conditions pertaining to the transaction.The Phoenix Arizona Purchase Contract and Receipt — Residential is a legally binding document used in real estate transactions within the state of Arizona, specifically in the city of Phoenix. It serves as a written agreement between the buyer and seller outlining the terms and conditions of the purchase of a residential property. This contract is crucial in ensuring a smooth and fair transaction for both parties involved. The Phoenix Arizona Purchase Contract and Receipt — Residential contains various sections that cover all the necessary details related to the sale. These sections include: 1. Parties: Identifies the buyer(s) and seller(s) involved in the transaction by providing their names, addresses, and contact information. 2. Property Description: Specifies the address and legal description of the residential property being sold. This section also allows for any attached fixtures or personal property included in the sale to be listed. 3. Purchase Price: States the agreed-upon sales price for the property. It may also include provisions for earnest money, down payment, and financing terms. 4. Financing: Specifies the buyer's method of financing the purchase, such as obtaining a mortgage loan or paying in cash. It may also outline the buyer's right to opt-out if unable to secure financing. 5. Contingencies: Includes any contingencies or conditions that must be met before the sale can be completed. Common contingencies may involve satisfactory home inspections, appraisal, or obtaining homeowner association documents. 6. Disclosures: Requires the seller to disclose any known issues or defects regarding the property. This may encompass previous repairs, lead-based paint, or other potentially relevant information. 7. Closing Costs: Outlines the responsibility for various closing costs, including fees for title insurance, escrow, and recording. 8. Closing Date: Sets the exact date when the sale will be finalized. This date is typically when the transfer of ownership occurs, and the buyer takes possession of the property. 9. Default and Remedies: Describes the consequences if either party fails to fulfill their obligations outlined in the contract. It may include provisions for damages, termination of the agreement, or specific performance. 10. Additional Terms and Signatures: Allows for any additional terms or conditions to be added to the contract and requires the signatures of all parties involved to indicate their agreement with the terms. It is important to note that there may be different versions or variations of the Phoenix Arizona Purchase Contract and Receipt — Residential, depending on the specific requirements or preferences of the parties involved, as well as any applicable state or local laws. These variations may address unique clauses or specific conditions pertaining to the transaction.
