Page 4 - Purchase Contract Guide Book Title Alliance of Arizona Ellsworth May 2017 (2)

Section 1 - Property

Lines 1 & 2: Buyers names as they will be taking title. Sellers names – may change depend-
ing on sellers names on recorded deed on property

Lines 5-9: Address of property – Legal description taken from tax record

Lines 12-16: Any additional monies that need to be addressed. Down payment amount and

loan amount can be added here.

Lines 19 & 20: All cash transactions require that a letter or source of funds from a financial

institution be included with the purchase contract.

Line 25: If close of escrow date falls on a holiday or day that the recorders office or the com-
pany is closed than COE shall be on the next business day both are open

Lines 26-28: Buyer is responsible for the lender performing in a timely manner.

Lines 29 & 30: If buyer fails to deliver closing funds by close of escrow date, seller can then
issue a cure notice. If funds are not delivered by end of cure notice, this may be considered a
breach of contract and earnest money may be forfeited.

Lines 32-35: Possession questions should be directed to independent counsel in regards to
insurance, legal, tax and accounting issues.

Lines 36-38: Additional documents attached to purchase contract. Real Estate agents to
include with purchase contract if applicable.

4 www.taofarizona.com