Common Contracts

PURCHASE CONTRACT FOR NEW HOME (WITH LOT) Document updated:April 2005

Purchase Contract • March 12th, 2021 • Arizona

• Contract Type
  Purchase Contract
• Filed
  March 12th, 2021
• Jurisdiction
  Arizona

Earnest Money: Earnest money shall be held by Broker until offer is accepted. Upon acceptance, Broker shall promptly deposit the earnest money with any escrow company to which the check is payable. If the check is payable to Broker, Broker may deposit the check in Broker’s trust account or endorse the check without recourse and deposit it with a duly licensed escrow company. Buyer agrees that, if Buyer breaches this Contract, any earnest money is subject to forfeiture. If any check for earnest money is dishonored for any reason, Seller may, at Seller’s option, immediately cancel this Contract pursuant to Lines 273-276. Unless otherwise provided herein, all earnest money is considered to be part of the purchase price for the Premises described below.