ContractsCounsel Logo

Arizona Real Estate Contract: Different Types and Key Terms to Include

ContractsCounsel has assisted 277 clients with real estate contracts and maintains a network of 142 real estate lawyers available daily. These lawyers collectively have 20 reviews to help you choose the best lawyer for your needs.

What is an Arizona Real Estate Contract?

An Arizona real estate contract, commonly known as a real estate purchase and sale agreement, is a legally binding contract entered into by a buyer and seller for the sale of property.

A typical real estate contract includes the basic terms of the sale which often include a description of the property, sale price, closing date, required disclosures, and contingencies. Contingencies are the actions that both parties must take to facilitate the deal and can include home inspections and securing financing for the purchase.

Real estate contracts are a type of contract covered by the Arizona statute of frauds so this contract must be in writing to be legally enforceable.

Common Arizona Real Estate Contracts

There are several types of real estate contracts that are used in Arizona including:

  • Purchase agreement. The most common type of real estate contract that is used for the transfer of property between a buyer and a seller.
  • Real estate assignment contract. Used when purchasing “distressed properties” as a wholesale investment strategy. This contract allows the buyer to assign the contract to a second buyer.
  • Lease agreement. Use when a landlord wants to rent their property to a tenant for use.

4 Essential Elements of an Arizona Real Estate Contract

The four essential elements of an Arizona real estate contract to make the contract valid and enforceable under Arizona property laws include:

  1. The contract must be in writing and include a legal description of the property
  2. There needs to be mutual assent and legal consideration
  3. The parties must both be legally competent
  4. The contract cannot violate any laws

What Must Be Included in an Arizona Real Estate Contract?

Under Arizona law, several different required disclosures must be included in all real estate contracts. Disclosures contain important information about the conditions of a property that could affect the property value.

Required disclosures include:

  1. Property disclosure statement. A form used by a seller to disclose what they know about the property’s condition and issues.
  2. Buyer inquiry. Seller must disclose all information relating to any inquiries made by the buyer.
  3. Comprehensive loss underwriting exchange (CLUE). Sellers must provide buyers with a report showing the past five years of insurance claims filed on the property.
  4. Condo disclosure information. Required only when the property is managed by an HOA or condominium community.
  5. Notice of soil remediation. Written notice of any soil remediation.
  6. Disclosure affidavit for land in unincorporated areas. A written affidavit provided by the buyer for property on unincorporated land.
  7. Military airport disclosure. Required when the property is located within the vicinity of a military airport.
  8. Lead-based paint disclosure. Only applicable for houses built before 1978
  9. Swimming pool disclosure. If the property has a swimming pool, the seller needs to provide a department of health services notice to the buyer.

Sellers do not have to disclose if the property was the location of a death, homicide, or any other felony crimes or if the property is in the vicinity of a sex offender.

Can a Buyer Back Out of a Real Estate Contract in Arizona?

Yes. A buyer can back out of a real estate contract in Arizona but there will be consequences. One way for a buyer to back out of a real estate deal is if the seller fails to meet a contingency or breaches the contract in some way like failing to provide a required disclosure.

If a buyer doesn’t have any contingencies available, they can breach the real estate contract to the end the deal. Breaching the contract however could have legal ramifications and the buyer will lose their deposit and any money spent on inspections and surveys throughout the process.

See Real Estate Contract by State


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,606 reviews

Meet some of our Arizona Real Estate Contract Lawyers

Phocus L. on ContractsCounsel
View Phocus
5.0 (1)
Member Since:
September 16, 2021

Phocus L.

Attorney
Free Consultation
Phoenix, AZ, USA
13 Yrs Experience
Licensed in AZ, CA
Georgetown University Law Center

G'day, my name is Michele! I work with startups, entrepreneurs and small/medium-sized businesses across the country in a wide array of industries. I help them with all of their ongoing, daily legal needs. This includes entity formation, M&A, contract drafting and review, employment, asset sale & acquisition, and business sales or shareholder exits. I'm half-Australian, half-Italian, and I've lived the last 20+ years of my life in America. I've lived all over the USA, completing high school in the deep south, graduating cum laude from Washington University in St. Louis, and then cum laude from Georgetown University Law Center. After law school I worked for the Los Angeles office of Latham & Watkins, LLP. After four intense and rewarding years there, I left to become General Counsel and VP of an incredible, industry-changing start-up called Urban Mining Company (UMC) that manufactures rare earth permanent magnets. I now work for Phocus Law where I help run our practice focused on entrepreneurs, startups, and SMEs. I love what I do, and I'd love to be of help! My focus is on providing stress-free, enjoyable, and high-quality legal service to all of my clients. Being a good lawyer isn't enough: the client experience should also be great. But work isn't everything, and I love my free time. I've been an avid traveler since my parents put me on a plane to Italy at 9-months old. I'm also a music nut, and am still looking for that perfect client that will engage me to explain why Dark Side Of The Moon is the greatest album of all time. Having grown up in a remote, and gorgeous corner of Australia, I feel a strong connection to nature, and love being in the elements.

Samuel R. on ContractsCounsel
View Samuel
5.0 (45)
Member Since:
October 2, 2021

Samuel R.

Attorney
Free Consultation
Phoenix - Arizona
5 Yrs Experience
Licensed in AZ, PA, UT
Widener University Delaware Law School

My career interests are to practice Transactional Corporate Law, including Business Start Up, and Mergers and Acquisitions, as well as Real Estate Law, Estate Planning Law, Tax, and Intellectual Property Law. I am currently licensed in Arizona, Pennsylvania and Utah, after having moved to Phoenix from Philadelphia in September 2019. I currently serve as General Counsel for a bioengineering company. I handle everything from their Mergers & Acquisitions, Private Placement Memorandums, and Corporate Structures to Intellectual Property Assignments, to Employment Law and Beach of Contract settlements. Responsibilities include writing and executing agreements, drafting court pleadings, court appearances, mergers and acquisitions, transactional documents, managing expert specialized legal counsel, legal research and anticipating unique legal issues that could impact the Company. Conducted an acquisition of an entire line of intellectual property from a competitor. In regards to other clients, I am primarily focused on transactional law for clients in a variety of industries including, but not limited to, real estate investment, property management, and e-commerce. Work is primarily centered around entity formation and corporate structure, corporate governance agreements, PPMs, opportunity zone tax incentives, and all kinds of business to business agreements. I have also recently gained experience with Estate Planning law, drafting numerous Estate Planning documents for people such as Wills, Powers of Attorney, Healthcare Directives, and Trusts. I was selected to the 2024 Super Lawyers Southwest Rising Stars list. Each year no more than 2.5% of the attorneys in Arizona and New Mexico are selected to the Rising Stars. I am looking to further gain legal experience in these fields of law as well as expand my legal experience assisting business start ups, mergers and acquisitions and also trademark registration and licensing.

Amber M. on ContractsCounsel
View Amber
5.0 (13)
Member Since:
March 8, 2023

Amber M.

Attorney
Free Consultation
Oklahoma
9 Yrs Experience
Licensed in AZ, OK
J. Reuben Clark Law School

Amber Masters has over 9 years of experience as a contracts attorney, helping small businesses with an array of agreements, such as purchase agreements, master service agreements, and employment contracts. She has an extensive background in employment agreements for dentists, doctors, and other health care professionals. She is a highly rated and acclaimed estate planning attorney and personal finance expert, who has been featured on CNBC, NBC, and Yahoo Finance. She successfully launched and sold a fintech startup and can empathize with the issues small and mid-size businesses face. Licensed in Oklahoma and Arizona.

Owen K. on ContractsCounsel
View Owen
5.0 (8)
Member Since:
May 24, 2023

Owen K.

Commercial Contracts Counsel
Free Consultation
California
11 Yrs Experience
Licensed in AZ, CA
University of San Diego School of Law

I am an experienced transactional attorney with substantial experience (10 years, including at a large national law firm and a public company) in the review/markup and drafting of a wide variety of commercial contracts. I am efficient and business-minded and am capable of taking an aggressive or more modest approach, depending on your preferences, leverage, and urgency. I look forward to working with you! https://www.linkedin.com/in/owenkirk/

Wendy C. on ContractsCounsel
View Wendy
4.9 (33)
Member Since:
January 17, 2023
Pankaj R. on ContractsCounsel
View Pankaj
Member Since:
March 26, 2022

Pankaj R.

Owner
Free Consultation
Los Angeles/Inland Empire
15 Yrs Experience
Licensed in AZ, CA
University of Arizona Rogers College of Law

I advise clients in the areas of business, trademarks, real estate, employment, and finance. My overarching goals are to unite creative people and companies to assist them in making sound legal and business decisions. I have been fortunate enough to build a fast-growing, 21st-century law firm with an amazing staff by my side. Our focus is not just on providing invaluable legal insight but creating a better all-around client experience. We provide unique subscription pricing and flat-fee options for our clients, providing billing transparency and enhanced value to all of our wonderful clients. Focus areas: contract drafting, negotiations, research, trademarks international law, entertainment, business development, entity choice; business: manager, team builder, leader, motivator. Speaking Engagements: National Business Institute (NBI) - "Business Contracts 101"

James G. on ContractsCounsel
View James
Member Since:
September 22, 2022

James G.

Attorney
Free Consultation
Glendale, Arizona
9 Yrs Experience
Licensed in AZ
Arizona Summit School of Law

I am a lawyer in Glendale, Arizona. I have practiced in contract work including buy/sell agreements, contracts for the purchase of goods and services and real estate. I also practice in bankruptcy law and sports and entertainment law.

Find the best lawyer for your project

Browse Lawyers Now

Real Estate

Real Estate Contract

New York

Asked on Dec 26, 2021

Can you purchase or refinance under a land contract?

I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.

Jane C.

Answered Jan 11, 2022

I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 18, 2022

WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233

SON AND EX

Meghan T.

Answered Mar 29, 2022

Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas

Read 1 attorney answer>

Real Estate

Real Estate Contract

Georgia

Asked on Mar 24, 2022

How many years does a quick claim become effective?s

Number of years for quick claim to be effect ive

Meghan T.

Answered Mar 29, 2022

A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas

Read 1 attorney answer>

Real Estate

Real Estate Contract

Illinois

Asked on Mar 27, 2022

what is better to buy land or rent for construction in US?

we are a construction company from Ukraine, we are planning to build a cottage town in the USA

T. Phillip B.

Answered Apr 5, 2022

I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.

Read 1 attorney answer>
See more legal questions…

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,606 reviews
Real Estate lawyers by top cities
See All Arizona Real Estate Lawyers
Arizona Real Estate Contract lawyers by city
See All Real Estate Contract Lawyers

ContractsCounsel User

Recent Project:
Purchase and Sale agreement
Location: Ohio
Turnaround: Less than a week
Service: Drafting
Doc Type: Real Estate Purchase Agreement
Number of Bids: 6
Bid Range: $400 - $3,500

ContractsCounsel User

Recent Project:
Real Estate Purchase Agreement Review
Location: Texas
Turnaround: Less than a week
Service: Contract Review
Doc Type: Real Estate Purchase Agreement
Page Count: 10
Number of Bids: 10
Bid Range: $400 - $1,500
User Feedback:
Detailed answers and responded to questions.

Need help with a Real Estate Contract?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 11,606 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city