- As a part of a Purchase Contract, buyers of property in Arizona must
initial every page of the
"Buyer's Advisory." This document is provided by the Arizona
Association of REALTORS&#reg; ("AAR") and is a good place to start in making sure you
do your due diligence and making sure you exercise your rights as a buyer.
- As of May, 2005, Arizona now has a new Purchase Contract. This purchase
contract provides many ways in which the Buyer's interest is protected. It is
summarized on the AAR Website.
- Internet Crusade, RealTown, has an excellent
Glossary of Real Estate Terms.
If you don't understand terms used in Real Estate, here is the place to build your understanding.
- In Arizona, most transactions are handled by an escrow company which is commonly tied to a
title insurance company. These are independent third parties and are responsible for
compiling the transaction documents and eventually getting the title recorded,
the loan documents gathered and the funds related to the transaction disbursed.
The selection of the escrow company is the choice of the Buyer, and normally,
your Earnest Money Check will be made out to them.
- Do your homework to learn about the neighborhood. If there is a homeowner association,
that organization has a controlling interest in your home. There is an official document
that spells out the restrictions on the properties within the association boundaries.
This document is the Conditions, Covenants, and Restrictions (CC&Rs) that apply.
In most cases, the CC&Rs restrict what can be done within the association boundaries resulting
in holding up property values and contributing to a better quality of life for
the community residents. The CC&Rs are part of your deed and part of your
assurance that you are getting full value for your property. Study the
CC&Rs carefully to make sure you can live with the restrictions.
- Should you use an e-PRO?
Yes - especially if you're an Internet user. In this fast-paced age, technology has
become a necessity. An e-PRO is someone who has recognized and responded to the
needs of the new consumer. If you choose an e-PRO, it's a safe bet you'll get the
kind of service you want - and need.
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