Mediation Before Litigation Under AAR Purchase Contract

Question: We signed the standard Arizona Association of Realtors (“AAR”) contract to purchase a home in north Phoenix and deposited $25,000 earnest money in escrow. We then received the Seller Property Disclosure Statement (“SPDS”) from the seller. On the SPDS, lines 64-68, the seller denied having any prior roof problems. We then closed the purchase…

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Canceling Purchase Contract After Inspection Period

cancel contract

Question: We signed the standard AAR Purchase Contract (“Purchase Contract”) for the purchase of a Gold Canyon home near the Superstition Mountains. During the 10-day inspection period the seller agreed to make the minor repairs that our home inspector had recommended. We then flew back to Canada. Three days later our real estate agent called…

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Listing Agent’s Representations Can Be Purchase Contract

Question: We made a full listing price offer of $480,000 with $20,000 earnest money for a home in Casa Grande. Our real estate agent emailed our $480,000 offer to the listing agent who emailed our real estate agent back the next day “Sounds good. Let’s open escrow. Seller signing the purchase contract. Will send tomorrow.”…

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