What should be included in a real estate purchase contract?

A real estate purchase contract in Arizona should include various elements to ensure that the transaction is legally binding. These elements include the legal names and current addresses of the buyer and seller, the purchase price of the property, the address and description of the property, the amount of earnest money that is required, the down payment, if any, and the financing terms. Additionally, any contingencies that must be met in order for the agreement to be finalized should be included, such as the buyer obtaining a loan or the seller providing a clear title. The time frame of the agreement, including the date of closing, should also be included. Lastly, details about the ownership and transfer of the home should be included. This should include provisions for what must be included or excluded upon transfer of ownership and who is responsible for any transfer fees or taxes. By including all of these elements, a real estate purchase contract in Arizona will be legally binding and both parties can be sure that their interests will be protected.

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What should be included in a real estate purchase contract?

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