Sell Arizona Real Estate Purchase Agreement

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Is a real estate purchase agreement binding?

What Is A Purchase Agreement? In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction. The buyer will propose the conditions of the contract, including their offer price, which the seller will then either agree to, reject or negotiate.

How can I get out of a real estate contract in Arizona?

If the home does not appraise for at least the Purchase Price, then the Buyer may cancel within five days of receiving a notice of the Appraised Value. Often the Seller will lower the price to the Appraised Value but if not, the Buyer has the right to cancel the contract and receive a return of their Earnest Money.

How can I get out of a real estate purchase agreement?

Real estate contracts for buyers If you want to get out of a real estate contract without meeting the terms, you risk losing your deposit. However, your contract will usually include contingencies that must be met by a specific date. If any contingencies are not satisfied, your deposit should be returned.

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