Residential Resale Real Estate Purchase Contract

06 · What this form is

The standard contract for a resale purchase

The Residential Resale Real Estate Purchase Contract is the standard contract form used in Arizona when a buyer and seller agree on the sale of an existing, previously occupied (resale) home. It records the agreement between the parties once the terms of the sale have been negotiated.

07 · When it commonly arises

After an offer is negotiated

This contract commonly arises once an offer is negotiated and the parties proceed to a binding purchase agreement. It is the contract at the center of a typical resale transaction in Arizona.

08 · General subjects it covers

The terms of the sale, at a high level

At a high level, the contract addresses the parties and the property, the purchase price and earnest money, financing, contingencies, disclosures, closing, and default terms. These subjects are described generally here. Specific terms are set by the parties in the document and can vary from one transaction to the next, including dates, deadlines, and any fees. Nothing on this page should be read as a fixed deadline or a mandatory fee.

09 · Questions to discuss with Andrew

The points worth understanding before you sign

• What the key dates in the contract mean for you, and how they line up with your timeline.

• What the contingencies mean for you, and what happens if a condition is not met.

• What you are committing to when you sign, so the obligations are clear before you proceed.

10 · Next steps

Review every term before you sign

• Review the contract carefully with Andrew before signing.

• Understand every deadline and contingency before you commit.

• Ask about anything that is unclear, no matter how small it seems.