Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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Write It Right The First Time - Other Forms and Addenda - Part 1

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 of the purchase contract is publicly available on the AAR website at this link.

 

This post focuses on the Pre-Qualification Form.

 

A complete sample copy of the Pre-Qualification Form is publicly available on the AAR website at this link.

 

With reference to a previous post:

 

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

 

This form is referenced in Lines 54, and again in Lines 71-73 of the Purchase Contract.  

 

While technically a Buyer could provide this form with only Lines 1-5 completed, it's essentially useless to the Seller unless and until Lines 6-42 have been completed by a Lender.

 

Only then can the Listing Agent "confirm" the information presented by the Buyer directly with the Buyer's Lender prior to consulting with the Seller regarding the offer.

 

We recommend to our Sellers that they "require" the Pre-Qualification form provided with an offer to be completed through line 42, obtain their written instruction to that effect, and advise the Buyer Agent of this in a Private REALTOR Doc attached to the listing in the MLS.

 

 

 

 

The first twelve 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

 

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

 

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

 

Write It Right The First Time - Or It May Result In Failure! - Part 6

 

Write It Right The First Time - Or It May Result In Failure! - Part 7

 

Write It Right The First Time - Or It May Result In Failure! - Part 8

 

Write It Right The First Time - Or It May Result In Failure! - Part 9

 

Write It Right The First Time - Or It May Result In Failure! - Part 10

 

Write It Right The First Time - Or It May Result In Failure! - Part 11

 

Write It Right The First Time - Or It May Result In Failure! - Part 12

 

 

 

 

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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

This is a great series. It's interesting to see how things are done in other states. I don't have a comparable form, we supply the preapproval letter the lender provides and that's it.  These vary in the details and relative strength, but I try to ensure my buyers use reliable lenders.  

Posted by Dan Tabit (Keller Williams Bellevue) about 3 years ago

Thanks Dan Tabit for your observations and 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) about 3 years ago

It seem like common sense to want to do it the right the first time. Done correctly makes the client feel much more comfortable with the purchase process.

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) about 3 years ago

Agreed Joe Petrowsky - 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) about 3 years ago

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