Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Write It Right The First Time - Or It May Result In Failure! - Part 4

The "standard" Residential Resale Real Estate Purchase Contract used in Arizona and provided by the Arizona Association of REALTORS® (AAR) is a document that both Buyers and Sellers should familiarize themselves with prior to the time where they are signing off on it.

 

A complete sample copy is publicly available on the AAR website at this link.

 

The first three posts in this series are available at the following links:

 

Write It Right The First Time - Or It May Result In Failure! 

 

Write It Right The First Time - Or It May Result In Failure! - Part 2

 

Write It Right The First Time - Or It May Result In Failure! - Part 3

 

This post focuses on the bottom of Page 1 and the top of Page 2 of the AAR contract, which specifies the disposition of Fixtures and Personal Property belonging to the Seller.

 

 

 

 

Lines 30-44 provide a bullet point list of items considered "fixtures".

 

 

If a Seller wants to "keep" any of the fixtures, they could specify those being "excluded from the sale" in the MLS listing - however - it's far better to remove them from the property BEFORE going Active on the market.  You don't them to be a bone of contention after entering into a contract!

 

Example: When the Seller moved in they removed the dining room chandelier that came with the property, and replaced it with the "family heirloom" chandelier. Swap the chandeliers BEFORE going Active on the market!

 

Be cautious of Solar Systems - make sure they are not "leased", or if they are. make sure the terms of the lease won't interfere with the sale of the property.

 

Lines 45-47 are checkboxes to be checked if any of those items are to be included with the sale, AND VERY IMPORTANTLY to document the make/model/serial numbers of those items to ensure for example that the refrigerator conveying with the property is the one that was in the kitchen at time of contract - not the "old" one that was in the garage!

 

Lines 48-52 are self explanatory.  Rule of thumb.  Always be as SPECIFIC as possible when filling in these blanks!

 

To read the next post in this series, click the link below, as we delve into the contract itself:

 

Write It Right The First Time - Or It May Result In Failure! - Part 5

 

 

 

 

 

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About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

Tony and Suzanne, this is great information for your real estate colleagues, buyers, and sellers in Arizona using your state purchase agreement.  It is so important that we all understand what is in the purchase agreement as it saves a lot of potential issues later on which could be quite costly!

Thanks for subscribing to my blog here on AR and I look forward to learning more about the Greater Phoenix area!

Posted by Bruce Walter (Keller Williams Realty Lafayette/West Lafayette, Indiana) almost 3 years ago

We've had those chandeliers switched at the end, and it sometimes can be a rough closing. We always tell our clients to remove what they want to keep before listing their houses. (if they would only listen)....

Posted by Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400, Long Island Home and Condo Specialists (The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803) almost 3 years ago

Thanks so much for the comment and the follow Bruce Walter - very much appreciated!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

Agreed Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c) - and thanks for stopping by with a comment!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 3 years ago

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