Option to Purchase - Short Form: This agreement is between an Owner of land and an Optionee. A contract such as this, states that the Owner gives the opportunity, or option, to the Optionee of purchasing his/her land for a specific amount, and during a specific time period. Both parties must sign this agreement in front of a Notary Public, in order to be valid. This form is available in both Word and Rich Text formats.
Phoenix Arizona Option to Purchase - Short Form
Category:
State:
Arizona
City:
Phoenix
Control #:
AZ-SALES-7
Format:
Word;
Rich Text
Instant download
Description
How to fill out Arizona Option To Purchase - Short Form?
Obtaining verified templates tailored to your local regulations can be challenging unless you utilize the US Legal Forms library.
It’s an online collection of over 85,000 legal documents for both personal and professional requirements and various real-world scenarios.
All the forms are appropriately categorized by usage area and jurisdiction, making it simple and quick to find the Phoenix Arizona Option to Purchase - Short Form.
Maintaining orderly and legally compliant documentation is crucial. Utilize the US Legal Forms library to always have necessary document templates readily available for any situation!
- Confirm the Preview mode and form description.
- Ensure you’ve selected the correct one that fulfills your requirements and completely aligns with your local jurisdiction standards.
- Search for another template, if necessary.
- Should you uncover any discrepancies, utilize the Search tab above to find the accurate one. If it meets your criteria, proceed to the next step.
- Click on the Buy Now button and select the subscription plan of your choice. You’ll need to create an account to access the library’s resources.
Form popularity
FAQ
The purpose of a sales agreement is to act as a legally binding contract between two parties involved in an exchange of money for goods, services, and/or property.
Both parties have to agree on the price before the purchase agreement is signed. Furthermore, terms such as earnest money, escrow company, down payment, financing, warranties and contingencies, and the closing date will be outlined in the contract.
The important difference is that an offer hasn't been agreed upon yet. A signed purchase agreement also usually contains the terms of the sale, spelling out what is required for the sale to be completed and that both parties have agreed to. The terms include: Price.
In Arizona, sellers are required to complete a real estate purchase agreement and the following disclosures in order for it to be considered legally binding: Buyer Inquiry.Comprehensive Loss Underwriting Exchange (CLUE).Swimming Pool Barrier Disclosure.Condo Disclosure Information.Notice of Soil Remediation.
An Arizona residential real estate purchase and sale agreement is a legal document with terms and conditions for a buyer's purchase of property from a seller. The seller and buyer (or their attorneys) will negotiate the terms of the agreement including purchase price, closing date, property condition, and so on.
A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.
In most Arizona real estate purchase contracts, the buyer will require the seller to deposit earnest money ? typically with the escrow company ? to demonstrate good faith. The deposit amount can be a percentage of the home sale price or an amount dictated by the seller.
Option Fee To be negotiated with your seller, the option fee is usually 1% of the purchase price for private properties, or not more than $1,000 for an HDB resale flat.
Generally, Arizona courts have strictly construed options in lease agreements because such provisions allow the optionee freedom to exercise or not exercise the option, whereas the optionor is bound by the option.
