Section 3: Reviewing a state (AZ) contractor friendly

CONTENTS:

0:00 – Introduction / Disclaimer

1:18 – Property and owner information

1:58 – Purchase Price and Earnest Deposit breakdown

2:45 – POF (Proof of Funds requirement)

2:53 – Close of Escrow (COE) and Possession dates

3:53 – Addendums incorporated in to the contract

4:04 – Fixtures and Personal Property

5:27 – Financing section

5:48 – Getting live signatures at meetings

6:48 – Seller concessions and appraisal contingency

7:41 – Title and Escrow Company

8:21 – Refundable vs non refundable earnest deposit. *Please note that the provision in the contract references the hold harmless of the title company with any dispute, but I’m using the paragraph as an opportunity to explain why it needs to be clear under what conditions you would be refunded your EM and when you would NOT be, like if you are agreeing to non-refundable deposit upfront.

9:41 – Disclosures

10:37 – Due Diligence period

12:06 – Sewer systems / drainage/water systems / wells

12:58 – Removing paragraphs that are agent specific (if you’re not using an agent)

13:42 – More reasons to use a state contract

15:41 – Home Warranty

16:07 – Final walkthrough

16:42 – Adding/spelling out clauses / agreements to help the contract be more investment friendly

17:46 – Terms of acceptance

19:35 – Agent information / signatures

20:09 – Counter Offer