AI Arizona Residential Resale Real Estate Purchase Contract

Enter parties, property, purchase price, earnest money, inspection period, financing terms, closing date, and contingencies, and receive a complete Arizona Association of Realtors (AAR) style Residential Resale Real Estate Purchase Contract with all standard provisions, 3-business-day earnest money requirement, inspection/BINSR timeline, SPDS delivery, title objection rights, HOA document timing, financing updates, default remedies, risk of loss, and required disclosures., -

This Residential Resale Real Estate Purchase Contract (this "Contract") is entered into as of [[Effective Date / Date of Acceptance]] ("Effective Date") by and between:

SELLER: [[Seller Full Legal Name(s)]] ("Seller"), whose address for notices is [[Seller Notice Address]]

BUYER: [[Buyer Full Legal Name(s)]] ("Buyer"), whose address for notices is [[Buyer Notice Address]]

Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the real property described below on the terms and conditions set forth in this Contract., -

1. PROPERTY

The real property that is the subject of this Contract is located at:

Street Address: [[Property Street Address, Unit if any]]
City: [[City]], Arizona ZIP: [[ZIP Code]]
County: [[County]]
Legal Description: [[Full Legal Description from Deed or Title Commitment, or "See Exhibit A attached"]]
Assessor's Parcel Number (APN): [[APN]]

The Property includes the land, all improvements, fixtures, and appurtenances, and the following items of personal property: [[List included appliances, window coverings, etc. or "All items that would normally convey with the real property"]].

Excluded items: [[List any exclusions or "None"]]., -

2. PURCHASE PRICE AND EARNEST MONEY

Total Purchase Price: $[[Purchase Price, Numerals]] ([[Purchase Price in Words]] Dollars).

Earnest Money Deposit: Within three (3) business days after the Effective Date (contract acceptance), Buyer shall deliver earnest money in the amount of $[[Earnest Money Amount]] to the Escrow Holder identified below. The earnest money shall be held in a federally insured escrow account. Failure to deliver the earnest money on time is a material default.

Escrow Holder / Title Company: [[Escrow Company Name]]
Escrow / Title Order Number (if known): [[Order Number]]
Escrow Holder Address: [[Address]]

Payment of Purchase Price at Closing:
- Earnest money to be credited toward purchase price.
- Additional cash or wire at closing: $[[Balance Due at Closing]]
- New loan proceeds: $[[Loan Amount]]
- Seller concessions / credits (if any): $[[Amount and Purpose]]

Purchase Price Breakdown Table

3. FINANCING CONTINGENCY

Buyer intends to obtain a new first mortgage loan in the approximate amount of $[[Loan Amount]] on terms acceptable to Buyer. This Contract is contingent upon Buyer obtaining loan approval and clear-to-close on or before [[Loan Approval / Clear to Close Deadline]].

Buyer shall provide Seller with written updates on loan status within the timeframes required by the Contract (typically within 5-7 days of acceptance and upon request). If Buyer is unable to obtain financing despite good faith efforts, Buyer may terminate and recover the earnest money (subject to any applicable cure periods).

Loan Type: [[Conventional / FHA / VA / USDA / Other]]
Pre-Approval Letter Attached: [[Yes / No, to be provided within [[X]] days]], -

4. INSPECTION PERIOD AND BINSR (BUYER'S INSPECTION NOTICE AND SELLER'S RESPONSE)

Buyer shall have [[Inspection Period, typically 10 days]] after the Effective Date (or after receipt of SPDS, whichever is later per contract) to conduct inspections of the Property at Buyer's expense.

On or before the end of the inspection period, Buyer shall deliver to Seller the BINSR (Buyer's Inspection Notice and Seller's Response) or equivalent written notice stating one of the following:

1. Buyer accepts the Property in its present condition (no repairs requested).
2. Buyer requests specific repairs or credits (list on BINSR).
3. Buyer elects to terminate the Contract and receive return of earnest money.

Seller shall respond to repair requests within the timeframe stated in the Contract (commonly 5 days). If Seller refuses or the parties cannot agree, Buyer may terminate or proceed.

Buyer acknowledges the right to a professional home inspection, roof inspection, pool/spa inspection, well/septic, environmental, and any other inspections desired., -

5. SELLER'S PROPERTY DISCLOSURE STATEMENT (SPDS)

Seller shall deliver the completed Arizona Seller's Property Disclosure Statement (SPDS) to Buyer within three (3) days after the Effective Date (contract acceptance), as required by the standard AAR purchase contract. Buyer shall have the right to review the SPDS and to cancel or request repairs within the inspection period.

Seller shall promptly update the SPDS and notify Buyer if any material fact changes or becomes known before closing., -

6. TITLE AND ESCROW

Seller shall deliver marketable title to Buyer at closing, free and clear of all liens and encumbrances except standard exceptions and those approved by Buyer.

Escrow Holder shall order a title commitment within the time required by the Contract (commonly within a few days of opening escrow). Buyer shall have a reasonable period (typically 5-10 days after receipt of commitment) to object in writing to any title exceptions. Seller shall have a cure period for objections.

Preliminary Title Report / Commitment to be provided to Buyer by: [[Deadline]]

Title Insurance: Owner's policy in the amount of the purchase price to be issued at Seller's expense (or as agreed); lender's policy at Buyer's expense.

Survey: [[Required / Not Required / ALTA / Boundary Survey at Buyer's option / Cost]], -

7. HOA / CONDOMINIUM ADDENDUM AND DOCUMENTS

If the Property is located in an HOA, condominium, or planned community:

Seller shall deliver to Buyer within three (3) days after the Effective Date (or as otherwise required by the Contract):
- The HOA addendum or disclosure
- Current HOA governing documents (CC&Rs, bylaws, articles, rules)
- Current financial statements, budget, and reserve study (if available)
- Any special assessment notices or pending litigation disclosures
- Certificate of assessments or estoppel letter

Buyer shall have the right to review and object or cancel within the inspection or HOA review period.

HOA Name: [[Name or "N/A"]]
Monthly Assessment: $[[Amount]], -

8. CLOSING AND POSSESSION

Closing Date: [[Closing Date]] (or such earlier or later date as the parties may agree in writing).

Possession: Seller shall deliver possession of the Property to Buyer at closing, or on [[Possession Date if different, e.g., 3 days after closing for seller move-out]].

Risk of loss passes to Buyer at the close of escrow (upon recording of the deed).

Prorations: Taxes, HOA assessments, rents, and other items shall be prorated as of the closing date using the latest available information.

Closing Costs: Each party shall pay their customary closing costs as provided by Arizona custom and the title/escrow instructions (buyer typically pays lender fees, title policy for lender, escrow fees split or per contract; seller pays owner's title policy in many transactions)., -

9. DEFAULT AND REMEDIES

Buyer Default: If Buyer defaults, Seller may cancel the Contract and retain the earnest money as liquidated damages (not as a penalty), or pursue other remedies available at law or in equity, including specific performance in some cases.

Seller Default: If Seller defaults, Buyer may cancel and recover the earnest money plus actual damages, or pursue specific performance of the Contract.

The prevailing party in any action to enforce this Contract shall be entitled to reasonable attorney fees and costs., -

10. CONTINGENCIES (OTHER)

Sale of Buyer's Home (if applicable): [[This Contract is / is not contingent on Buyer selling Buyer's current residence. If contingent: Buyer must have an accepted contract on Buyer's home by [[Deadline]] with removal of contingencies by [[Date]].]]

Appraisal Contingency: This Contract is contingent upon the Property appraising at or above the purchase price. If appraisal is low, Buyer may terminate or renegotiate.

Other Contingencies: [[List any additional, e.g., sale of another property, zoning approval, survey approval, or "None"]], -

11. DISCLOSURES AND ADDENDA

The following disclosures and addenda are required or attached:

• Seller's Property Disclosure Statement (SPDS), due within 3 days
• Lead-Based Paint Disclosure and Pamphlet (pre-1978 homes)
• HOA / Condominium Addendum and documents (if applicable)
• Financing Addendum / Pre-Approval
• Buyer Broker Agreement (if separate)
• Any local or property-specific addenda: [[List]]

No-Representation / "As-Is" Sale (Investor / Flip / Seller Never Occupied): [[If applicable: Seller has never occupied the Property and makes no representations or warranties regarding condition beyond the SPDS. Buyer is purchasing in "as-is" condition subject to inspection rights.]], -

12. ADDITIONAL PROVISIONS

12.1 Entire Agreement. This Contract, including all addenda and exhibits, constitutes the entire agreement and supersedes all prior negotiations and representations.

12.2 Amendments. Any amendment must be in writing and signed by both parties.

12.3 Time is of the Essence. All time periods are strict.

12.4 Notices. All notices shall be in writing and delivered by personal delivery, email (if authorized), or certified mail to the addresses in Section 1 or to the parties' brokers.

12.5 Governing Law. This Contract shall be governed by the laws of the State of Arizona.

12.6 Severability. If any provision is held invalid, the remainder shall continue in full force.

12.7 Counterparts / Electronic Signatures. This Contract may be signed in counterparts and by electronic means (DocuSign, etc.) which shall have the same legal effect.

12.8 Brokerage. [[Listing Broker]] represents Seller. [[Buyer's Broker]] represents Buyer. Commissions are as agreed in separate agreements.

12.9 Attorney Fees. Prevailing party entitled to reasonable fees and costs.

12.10 Assignment. Buyer may not assign this Contract without Seller's prior written consent., -

13. SIGNATURES

SELLER:

___________________________________________ Date: [[Date]]
[[Seller Full Legal Name]]

___________________________________________ Date: [[Date]]
[[Seller Full Legal Name]]

BUYER:

___________________________________________ Date: [[Date]]
[[Buyer Full Legal Name]]

___________________________________________ Date: [[Date]]
[[Buyer Full Legal Name]]

BROKER / AGENT ACKNOWLEDGMENT (if applicable):

Listing Agent: [[Name]] Brokerage: [[Brokerage]] Date: [[Date]]

Buyer's Agent: [[Name]] Brokerage: [[Brokerage]] Date: [[Date]], -

EXHIBIT A, LEGAL DESCRIPTION (if not fully stated above)

[[Insert full metes and bounds or subdivision legal description here or attach recorded deed copy]], -

EXHIBIT B, PERSONAL PROPERTY INVENTORY (if extensive)

[[List all included furnishings, appliances, and personal property with condition notes]], -

CLOSING CHECKLIST / TIMELINE SUMMARY (Typical AAR Flow)

1. Effective Date = Contract Acceptance.
2. Earnest money due within 3 business days.
3. SPDS delivered within 3 days.
4. HOA documents (if applicable) delivered within 3 days.
5. Inspection period (typically 10 days), BINSR due.
6. Loan status updates per contract schedule.
7. Title commitment delivered; buyer objects within X days.
8. Clear to close obtained.
9. Closing on [[Closing Date]].
10. Possession delivered per agreement.
11. Final walk-through recommended 24-48 hours before closing., -

DISCLAIMER AND SOURCES

Template, not professional legal advice. This document is a template illustrating standard provisions of the Arizona Association of Realtors (AAR) Residential Resale Real Estate Purchase Contract and related Arizona law as of June 2026. It is not the official AAR form and does not replace the need to use current approved forms, title company instructions, or advice from a licensed Arizona real estate attorney or broker. All user-supplied values are shown as [[Token Name]] fields. Earnest money, inspection periods, and other timelines should be confirmed against the specific contract and local customs.

Primary Sources and References (as of June 2026):
- AAR Residential Resale Real Estate Purchase Contract (current edition)
- A.R.S. Title 33, Chapter 10 (Arizona Residential Landlord and Tenant Act, disclosures)
- A.R.S. Title 11 and Title 33 (real property, title, and recording)
- 42 U.S.C. § 4852d (Lead-Based Paint)
- Arizona Department of Real Estate rules and AAR forms library
- Standard title and escrow practices in Arizona, -

End of Arizona Purchase Agreement Template