Arizona Real Estate Purchase Agreement

An Arizona residential real estate purchase agreement (“Contract for Sale and Purchase of Real Estate”) is a contract which commits a buyer to an offer to purchase real estate, according to specific terms agreed by the buyer and seller. Negotiated specifics include the purchase price, financing method, closing date, and more.

Do Sellers in Arizona Have to Disclose Property Defects?

• Whether a death, suicide, homicide, or other felony has been committed on the property
• Whether an owner or occupant of the property has had HIV/AIDS, or another disease “not known to be transmitted through common occupancy of real estate”
• Whether the property is located in the vicinity of a sex offender

Required Seller Disclosures in Arizona

Arizona sellers of real estate must complete the following disclosures in order for a real estate purchase agreement to be considered legally binding:

• Buyer Inquiry: Sellers are only required to disclose material information about the property. However, if a buyer makes an inquiry about a specific aspect of the property, the seller must disclose all known information about that topic.
• Comprehensive Loss Underwriting Exchange (CLUE): The standard Arizona real estate contract requires sellers to provide the buyer with a report showing a five-year history of insurance claims filed on the property.

Depending on the circumstances, a seller may also have to provide the following disclosures:

• Lead-Based Paint Disclosure: Any home constructed earlier than 1978 must come with a disclosure upon the transfer of the property which includes any information about the presence of lead on the premises, as well as educational materials that communicate the health risks associated with lead exposure.
  
• Swimming Pool Barrier Disclosure: Sellers who have a property with a pool must provide a standardized notice to the buyer from the Department of Health Services.
• Condominium Disclosure Information: Required for sellers managing a homeowner’s association, condominium, or planned community.
• Notice of Soil Remediation: Prior to transferring ownership of the property, the seller must give written notice of soil remediation to the buyer.
• Disclosure Affidavit for Land in Unincorporated Areas: Sellers of property on unincorporated land must furnish a written affidavit of disclosure to the buyer at least seven days before the transfer of the property. The buyer must acknowledge receipt of the affidavit.
• Military Airport Disclosure: Required when a property is located within territory in the vicinity of a military airport .

Sources

A. No criminal, civil or administrative action may be brought against a transferor or lessor of real property or a licensee for failing to disclose that the property being transferred or leased is or has been:

1. The site of a natural death, suicide or homicide or any other crime classified as a felony.

2. Owned or occupied by a person exposed to the human immunodeficiency virus or diagnosed as having the acquired immune deficiency syndrome or any other disease that is not known to be transmitted through common occupancy of real estate.

3. Located in the vicinity of a sex offender.

B. Failing to disclose any fact or suspicion as set forth in subsection A shall not be grounds for termination or rescission of any transaction in which real property has been or will be transferred or leased.

Frequently Asked Questions

How Do You Write a Real Estate Contract in Arizona? To write a real estate contract in Arizona, you will need to identify and document the terms and conditions of the sale. The contract should also include the names of each party and the legal property address. You can download a customizable template or write your own. Read more » How Can You Get Out of a Real Estate Contract in Arizona? In Arizona the buyer has 10 days from the full execution of the purchase contract to decline to move forward with the purchase upon a specific objection(s) or agree to move forward provided that the seller make certain repairs. Read more » What Is the Effective Date of a Real Estate Contract in Arizona? In Arizona, the effective date of a real estate contract is the date the buyer and seller agree to the terms of the contract and have it executed. All contract obligations are binding and enforceable on the effective date. Read more » Can a Seller Cancel a Real Estate Contract in Arizona? In Arizona, a seller can get out of a real estate contract if the buyer’s contingencies are not met—these include financial, appraisal, inspection, insurance, or home sale contingencies agreed to in the contract. Read more » How Do I Fill Out a Real Estate Contract in Arizona? To fill out a real estate contract in Arizona, first, download our customizable Arizona real estate contract template. Filling out the template is fairly straightforward, complete the information for each party, including the names, party type, and address along with the terms and conditions of the deal. Read more »