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Additional Clause Addendum
Arizona Association of Realtor Additional Clause Addendum. With this addendum you have the legal wordage to add multiple addendums that are used in real estate transactions. Examples of those addendums are: Back-Up Contract Contingency, Signature of Absent Buyer Spouse or Co-Buyer, Seller Closing Cost Contributions, Corporate Relocation Approval, All Cash Sale, Non-Refundable Earnest Money, Appraisal Waiver, Survey, Tax Deferred Exchange, and Water Rights.
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Appraisal Contingency Notice
Arizona Association of Realtor Appraisal Contingency Notice. This is a notice a buyer would use if a property fails to appraise at or above the appraised price.
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AS IS Addendum
Arizona Association of Realtor AS IS Addendum. This contract states all the buyers and sellers responsibilities, and how the warranties would work when buying a property AS-IS.
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Assumption Carry Back Addendum
Arizona Association of Realtor Assumption Carry Back Addendum. This addendum is used when both buyer and seller have agreed to carry back or assume financing for some or all of the property. This contract covers many areas of assumption and carry back financing.
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Buyer Contingency Addendum
Arizona Association of Realtor Buyer Contingency Addendum. This agreement is used when the buyer has a property that needs to be sold for the new contract to be valid. The current property may be under contract and ready to close escrow, yet it has to be completely sold for the new contract to be considered valid.
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Buyer Inspection Notice and Seller's Response
Arizona Association of Realtor Buyer Inspection Notice and Seller’s Response. This contract is used when negotiating the disapproved items or cancelling the contract due to a disapproved item found; whether it be something regarding the neighbor, neighborhood, area, proximity to something, or something with the home itself,…etc.
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Counter Offer
Arizona Association of Realtor Counter Offer. This is a form that would be used to change any terms and/or add/remove term provisions in the original contract.
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Cure Notice
Arizona Association of Realtor Cure Notice. This form is used when there has been non-compliance. The cure notice can only be used after the non-compliance has occurred. The non-complying party has 3 days after receipt of the cure notice to comply. If the non-complying party does not comply, then the contract is in breath and the complying party can resort to the remedies outlined in the purchase contract.
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Domestic Water Well
Arizona Association of Realtor Domestic Water Well Addendum. This addendum is used along with the purchase contract only when the property has a water well. The addendum gives instructions to the seller and buyer regarding disclosure for water wells and inspections.
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H.O.A Condominium/Planned Community Addendum
Arizona Assocation of Realtor H.O.A Condominium/Planned Community Addendum. This addendum needs to be used when there is an H.O.A governing a property. When ownership of a property changes there are fee’s that the H.O.A could charge the buyer and seller. Also there could be H.O.A. liens on the property. With this addendum most of the issues that come up with H.O.A’s will be covered and each party will know as to whom is responsible for what.
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Lead Based Paint Disclosure
Arizona Association of Realtor Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards (Sales). Prior to 1978 lead based paint was used in homes, it was discovered that lead based paint when ingested could be fatal. This is more of a concern for children and babies, rather then adults. Please click on the link for lead based paint pamphlet for detailed information.
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Loan Status Report (LSR)
Arizona Association of Realtor Loan Status Report. This form is required with the purchase contract. It informs the seller on how the buyer is planning on paying for his/her property; whether it is cash, 100% financing, carry back, some financing and some cash, the interest rate and whom the mortgage broker is and also how much the mortgage broker has consulted with the buyer. Before this form was used, there were many problems in real estate transaction because of financing. Some people would not be qualified and be trying to buy homes and when it was time to close escrow there would be disaster. With this form the liability falls on the mortgage broker so the seller has recourse to go after the mortgage broker who stated in this form that the buyer was qualified for this loan.
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Loan Status Update (LSU)
Arizona Association of Realtor Loan Status Update. This form updates the seller and other parties to where the loan process is. The seller has the right to ask for the loan status update anytime so they can assess the risk of whether their property will close on time or not.
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Multiple Counter Offer
Arizona Association of Realtor Multiple Counter Offer. This is an addendum to the purchase contract that is used when a seller has multiple offers on their property. The main clause in this addendum is that it allows the seller to not be in a binding contract when one of the buyers accepts the counter offer.
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Residential Profile Sheet.
Arizona Regional Multiple Listing Service Residential Profile Sheet. The information required to complete an MLS listing.
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Residential Purchase Contract
Arizona Association of Realtor Residential Purchase Contact contains all the terms and condition in a real estate transaction of a residential property, excluding land. The major sections of this contract are: Property, Financing, Title and Escrow, Disclosures, Warranties, Due Diligence, Remedies, Additional Terms and Conditions, and Seller Acceptance.
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S.P.D.S
Arizona Association of Realtor Seller Property Disclosure Statement. This disclosure has to be given to the buyer within 5 days of contract acceptance; otherwise the seller would be in non-compliance of the contract. This form is one of the most important aspects of a real estate transaction. This form discloses many facts of the property that the seller knows, to the buyer. If there is a material fact that was relevant to the buyer yet not disclosed by the whom definitely had knowledge of the defect in the property; then the buyer may sue the seller and broker and use the seller property disclosure statement as proof that it was not disclosed to the buyer.
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Unfulfilled loan Contingency
Arizona Association of Realtor Unfulfilled Loan Contigency Notice. This official notice is used by a buyer in cases where the buyer was unable to qualify for a loan.
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