Arizona Real Estate Contracts To Buy A Home

For homeowners considering selling their home, here are several of the core agreements that you can expect to see when we list your home. These are standard boilerplate agreements and are provided for your easy reference. Though there are other documents such as addenda, disclosures, and the like, these are a few of the core documents that we have clients sign in order to take on your business and sell your property.

The Arizona Buyer Advisory

Buyer Advisory

This is probably the single best document available that talks to all the potential issues and areas of concern for prospective Buyers to review and investigate prior to purchasing a home in Arizona. It is highly recommended that Bueyrs read through and regularly reference this document when buying a home here.

Documents Required to Purchase a Home in Arizona

Residential Purchase Contract

The Residential Resale Real Estate Purchase Contract is a boilerplate contract created and maintained by the Arizona Association of Realtors. This is what we and most Realtors use as a basis for an offer and once signed, the actual purchase agreement between Buyer and Seller. Other Addenda such as the Homeowner's Association Addendum, As-Is Addendum, Lead-Based Paint Addendum, Short Sale Addendum, or other Addendum may accompany this document as needed.

Real Estate Agency Disclosure And Election

The READAE is not an employment agreement but does clearly spell out the nature by which the Broker represents the client. Though it can be used as a disclosure for possible Dual Agency whereby the Broker represents both the Buyer and Seller, it should not be considered as a consent for that representation. Overall, the READAE simply indicates how the Broker works for the client.

Buyer Broker Agreement

This is the actual employment agreement between the Buyer and Broker. This documents spells out how the Broker works for the client and how the Broker is compensated for his or her services.

The Loan Status Report

Loan Status Report

The Loan Status Report is a critical document for submission with any offer as it represents to the Seller that the Buyer has essentially been pre-approved for the purchase of the property the Buyer is submitting an offer for. The Loan Status Report is filled out by the Buyer's Lender and signed by the Buyer. Note: If the Buyer is paying cash, a Proof of Funds is typically required.

Buyer Inspection Notice & Seller Response

Buyer Inspection Notice and Seller Resonse

The Buyer Inspection Notice & Seller Response document represents the Buyer's opportunity to communicate issues with the property that have been discovered during the due diligence or inspection period and what the Buyer opts to do. The Buyer can either cancel the agreement, ask the Seller to correct marked items, or accept the property in its current condition and continue on with the sale.

If you have any questions on any of the documents listed here, just Contact Us or call (480) 227-6911.

Or, if you would like to list your home with Lorti Homes Arizona, click Sell Your Home.