Federal and State laws regulate how personal information is handled by the insurance industry and sellers must avoid violating these regulations. 1980) – Seller is only required to disclose material information about the property however, if a buyer makes an inquiry regarding a particular aspect of the property, the seller must disclose any and all information pertaining to said aspect.Ĭomprehensive Loss Underwriting Exchange (C.L.U.E.)) – Seller must provide the buyer with a report containing a list of any claims made on the property. of Realtors – Adobe PDF ( Sample) Required Disclosuresīuyer Inquiry ( Universal Inv. Once inspections have been made, financing is in place (if applicable) and all other contingencies have been met, the parties can sign the purchase and sale agreement to finalize the deal.
Typically, the buyer will be required to make a deposit, or ”earnest money,” to ensure the seller that they are serious about the transaction.
The seller and buyer (or their attorneys) will negotiate terms of the agreement including purchase price, closing date, property condition, and so on. An Arizona residential real estate purchase and sale agreement is a legal document wiht terms and conditions for a buyer’s purchase of property from a seller.
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