The standard Arizona residential resale purchase contract covers the price and earnest money, financing, the appraisal, the close of escrow date, the seller's disclosures, the inspection period, usually 10 days, and the BINSR repair process, where the seller has five days to respond. It also covers HOA documents, a home warranty if any, what's included with the home, and what happens if either side doesn't perform. The deadlines in it are strict, so know them before you sign. This is general education, not legal advice.
Arizona real estate purchase contracts contain a lot of standardized language, and understanding what you're actually agreeing to, not just signing where indicated, protects you throughout the transaction. This is general education, not legal advice.
Most Arizona resale transactions use the standard residential resale purchase contract published by the Arizona Association of REALTORS®. New construction usually uses the builder's own contract, which is a different document.
Purchase price and earnest money terms
The contract specifies the purchase price and earnest money deposit amount, along with the timeline for depositing those funds into escrow, I make sure you understand exactly what's expected and when, and when that money could be at risk.
Financing and the appraisal
The contract spells out the type of loan, deadlines for the buyer to keep the lender moving and keep the seller updated on loan status, and what happens if the home doesn't appraise for the price. These are some of the most important protections for a financed buyer.
The inspection period
On the standard contract, the buyer has 10 days to inspect unless a different number is negotiated. Repair requests go to the seller on the BINSR, the Buyer's Inspection Notice and Seller's Response, and the seller has five days to answer. See How do you negotiate repairs after a home inspection in Chandler, AZ?
The key deadlines at a glance
| Item | What to know |
|---|---|
| Earnest money | Deposited with escrow on the schedule in the contract |
| Seller's disclosures | The SPDS and other disclosures arrive early in escrow |
| Inspection period | Usually 10 days |
| Seller's BINSR response | Usually 5 days |
| Loan and appraisal | Specific deadlines and options if the value comes in low |
| Close of escrow | The target closing date |
What the seller promises about the home
The standard contract includes seller warranties. Among them, the seller warrants that the heating, cooling, mechanical, plumbing and electrical systems, and built in appliances, will be in working condition at closing. That doesn't mean new, and it doesn't cover age. It does give you a basis to raise a problem you find at the final walkthrough, like an AC that stopped working.
Possession and the final walkthrough
On the standard contract, the buyer usually gets possession at closing, along with the keys, remotes and codes. If the seller needs to stay after closing, that's handled with a separate agreement, not a handshake. Before closing, you do a final walkthrough to confirm the home is in the condition the contract requires and that any agreed repairs were done.
Close of escrow date
This specifies your target closing date, though actual closing can shift based on financing, inspection findings, or other factors, I help you understand realistic expectations versus the contract date.
Disclosures, HOA documents and warranty
The contract requires the seller's disclosures, like the SPDS, and if the home is in an association, the HOA disclosure package. It also addresses whether a home warranty is included and who pays for it.
Addenda and additional terms
Contracts often include addenda covering specific situations, HOA disclosures, lead based paint disclosures for homes built before 1978, solar, or other negotiated terms. I make sure you understand every addendum attached to your specific contract.
If someone doesn't perform
The contract lays out what happens if the buyer or seller doesn't do what they agreed to, including notice and a short period to fix it. This is where deadlines and earnest money matter most.
On the standard contract, the party who believes the other is in breach usually has to deliver a written notice, and the other side gets a short cure period to fix it before more serious steps follow. That's why notices and dates matter so much. I keep every deadline on a calendar and send notices in writing when they're needed.
Disputes and mediation
The standard contract asks the buyer and seller to try mediation before going to court or arbitration over most disputes. Mediation means a neutral person helps both sides reach an agreement. Most deals never get anywhere near this, but it's worth knowing the contract has a path built in if something goes wrong.
Counteroffers
When a seller responds with different terms, that's a counteroffer, and it replaces your original offer. You can accept it, counter back or walk away. Sellers sometimes send counters to more than one buyer at once, which works differently than a single counter, so read the wording carefully. I'll explain exactly what each counter means and how long you have to answer.
Why reading every page matters
I know it's tempting to skim and sign, especially under time pressure, but I walk every client through their contract in plain language before they sign, you should understand what you're agreeing to, not just trust that it's standard.
The bottom line
You deserve to fully understand every page you sign. I walk every client through their contract in plain language, not legal jargon.
Let's take the confusion out of this decision, schedule your clarity call today.
Questions, answered.
Do I need an attorney to review my Arizona purchase contract?
It's not typically required, since Arizona real estate agents work with the standard contract every day, though you're always welcome to have an attorney review anything you'd like additional assurance on.
What happens if I miss a contract deadline?
It can affect your ability to renegotiate or cancel based on that part of the contract, and it can put your earnest money at risk, which is exactly why I track these deadlines closely on your behalf.
Can contract terms be negotiated?
Yes, many terms are negotiable between buyer and seller, I'll help you understand which terms have flexibility in your specific situation.
How long is the inspection period in Arizona?
Usually 10 days on the standard resale contract, unless a different number is negotiated.
Is a new construction contract the same?
No. Builders use their own contracts, which usually favor the builder, so read them closely with your agent.
Want to talk it through?
Bring me the specifics of your situation and I will tell you straight what I would do. No pitch, nothing to sign, and no obligation to work with me afterward.
Walk through a contract with me