Purchase Contract Contingencies

Purchase Contract Contingencies

Image titleThe Arizona Residential Resale Real Estate Purchase Contract has several built-in contingencies that protect a Buyer's earnest money.  If these contingencies are not fulfilled then the contract is cancelable by the the Buyer and all Earnest Money will be returned to the Buyer.

LOAN CONTINGENCY -- The Buyer's obligation to compete the sale is contingent upon the Buyer obtaining loan approval for the loan described in the Arizona Association of Realtor's Loan Status Update form without Prior to Document conditions no later than three (3) days prior to the Close of Escrow Date. 

APPRAISAL CONTINGENCY --  The property must appraise for at least the purchase price.

INSPECTION CONTINGENCY -- For the first 10 days after the contract is accepted, Buyer has the opportunity in investigate and inspect any aspect of the home itself, the community, and all disclosure documents provided.  If Buyer finds anything unsatisfactory, and the Seller is unwilling or unable to make it satisfactory, then the Buyer has an opportunity to cancel the purchase contract.

The Rodgers Team is happy to help you through all the terms, conditions, and contingencies of your home sale or purchase, specializing in the Phoenix East Valley cities of Mesa, Tempe, Gilbert, Chandler, San Tan Valley, and Queen Creek.

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Phone: 480-420-6657
Dated: June 26th 2015
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The Rodgers Team, DeLex Realty
6170 W Chandler Blvd #14
Chandler, AZ