Understanding Real Estate Contracts and What You Can Expect to Find

Understanding Real Estate Contracts and What You Can Expect to FindThere are a lot of things that go into the successful sale of your home, but many people are unfamiliar with the intricacies of the contract. Whether you consult with your real estate agent or plan on diving in on your own, it’s important to be clear on the terms. If you’re wondering what you can expect when it comes to the contract, here are some pointers on what to watch out for.

Real Estate Jargon

A real estate contract would not be complete without the professional terminology, so you’ll see words like amortization, price-to-income ratio and title that may impact the meaning of your contract. Instead of going it blind, search the Internet for terms or consult with your real estate agent to provide a clear explanation.

Specifics On The Sale

Information regarding the specifics of your property will be present in the contract, and it’s important to check this information before signing on the dotted line. While the address and location of your home are important, it’s also critical to verify the purchase price that has been decided upon, the closing date on the property and any other items that have been negotiated and agreed upon.

Be Aware Of Withdrawal Terms

It can be easy to be taken away by excitement once you’ve received the perfect offer on your home, but it’s important not to lose sight of everything that’s required before the sale has been finalized. One of the most important parts of the contract is the withdrawal terms that are laid out, so be certain you’re aware of what your rights are if you or the home buyer decides to withdraw from the process.

Watch For Seller’s Responsibilities

If you, as a seller, do not remain committed to the terms of the contract this can be a deal breaker, so ensure that you’ve familiarized yourself with exactly what’s required of you. This may include everything from the maintenance on the property to offer negotiations, so it’s important to comply with these terms.

Dealing with a real estate contract can be confusing for the layman, so it’s worth your while to have a trusted real estate agent around who will be able to explain it. From withdrawal terms to seller responsibilities, there are plenty of things you should be aware of before sealing the deal. If you’re currently embarking on selling your home, give me a call for professional representation – J.P. Cook – 602-320-4253.

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4184 E Meadowview Drive Gilbert, AZ 85298

$1,500,000
4 Beds
3.5 Baths
3,700 SqFt
Status Active
MLS # 6786826
Property Type Single Family Residence
Price Type --
Situated on almost 1/2 An Acre lot in Seville Golf & Country Club, on one of the most sought after streets, this Completely Remodeled, 3,700+ Sq. ft property is the best home on the market. This 4 bed, 3.5 bath, open concept floor plan w/ 14ft ceilings has a modern look, w/ a chefs kitchen w/ double ovens, a flat cooktop stove, beverage fridge, & built in ice maker. House has brand new tile, paint, fixtures, appliances & cabinetry throughout. Primary suite has oversized bedroom w/ spa like bathroom which includes a walk-in shower, dual vanities, soaking tub & infrared Sauna. If entertaining is your jam, this backyard is meant for you. Home has a pool, built in BBQ Grill, Pickleball & basketball court with commercial lighting. The patio also has commercial grade misters & commercial grade heating. All of this, inside of Seville Country Club where members have access to a community gym, water park, tennis courts, indoor golf, youth programming a restaurant & more!

20609 W Colter Street Buckeye, AZ 85396

$1,500,000
3 Beds
3.5 Baths
2,743 SqFt
Status Active Under Contract
MLS # 6781302
Property Type Single Family Residence
Price Type --
Discover unparalleled luxury in this David Weekley home, located in the highly sought-after Victory at Verrado, Buckeye's premier 55+ community. This 3-bedroom, 3.5-bath residence combines elegance and comfort across 2,743 SF of living space. With an option to purchase furnished, this property is move-in ready and designed for discerning buyers who appreciate exceptional craftsmanship and thoughtful details. From the moment you arrive, it's clear that every detail has been carefully curated. The widened paver driveway, travertine steps with integrated lighting, and custom steel entrance gate create a welcoming, courtyard-style entry that sets the tone for the entire home. Inside, you're greeted by an inviting open-concept layout, with a ... breathtaking, unobstructed view of the backyard that draws you in from the moment you step through the door. The living room is open and airy, yet remains cozya perfect balance for both entertaining and everyday comfort. Connected to this living area is a chef's dream kitchen, featuring high-end cabinetry, a large island, a spacious walk-in pantry, and top-of-the-line appliances. Just off the kitchen, the expansive dining area is ideal for hosting, with room for a grand table and an unparalleled view that makes every meal an occasion. The private, split floor plan offers each bedroom its own ensuite bath, while a versatile den or office space completes the interior, allowing the home to adapt seamlessly to your lifestyle. Notable touches, like the state-of-the-art fingerprint-access wine and/or gun cellar, add exclusivity to this already extraordinary home. The backyard, however, is the true showstopperan outdoor oasis that offers Arizona living at its finest. Positioned on the golf course with sweeping west-facing views, this space is crafted to impress. Enjoy an award-winning pool, and a putting green inspired by the Victory Golf Course's practice area, all framed by Arizona's iconic sunsets. Multiple shaded lounge areas provide comfortable spaces for relaxation or TV watching, and a custom day bed adds a unique touch of resort-style luxury. The backyard is an entertainer's dream, equipped with a natural gas grill hookup, an outdoor fireplace, and a two-zone high-pressure misting system with remote control to keep you cool on warm days. The setting is unbeatableyou'll enjoy front-row seats to the community's firework shows, panoramic mountain views, and one of the best sunset backdrops Victory at Verrado has to offer. With its exceptional finishes, stunning design, and captivating outdoor spaces, this home is truly a rare opportunity in Victory at Verrado. Don't miss your chance to own this one-of-a-kind property!

10085 E Cochise Drive Scottsdale, AZ 85258

$1,500,000
3 Beds
2 Baths
2,179 SqFt
Status Active
MLS # 6778455
Property Type Single Family Residence
Price Type --
Luxurious living. Fine finishes by Stone Creek, Offset Travertine Flooring, Slab Granite Countertops, Tumbled Stone Backsplashes, Stainless Steel Viking Appliances, Waterfront Lot & Shoreline (Approx. 88' Wide), Wonderfully Naturally Lit and Open Den/Office or 3rd Bedroom, the Kitchen Opens to a Spacious Family Room, Formal Living Room and Formal Dining Room, Vaulted Ceilings, Large Windows, Stone Fireplace, Updated Covered Travertine Patios, Fantastic Private Spool, Direct Entry 2 Car Garage with Built-In Storage and EV Charger. Navigate the Lake on the Included Boat. Directly Across from Resort-Like Heated Community Pool & Spa, All Single Level with No Steps except for path down to the Lake. Excellent Shopping & Fine Dining Near By.

20319 E Orchard Lane Queen Creek, AZ 85142

$1,500,000
4 Beds
2.5 Baths
2,474 SqFt
Status Active
MLS # 6747973
Property Type Single Family Residence
Price Type --
**EXTREMELY RARE R-43 MARICOPA COUNTY ISLAND PROPERTY - NO HOA or CC&R'S** This gorgeous one story home is situated on just slightly under an acre with a luxurious pool, an RV garage, and stunning mountain views. Once you step inside you'll immediately feel at home as you walk into the beautiful entryway that leads into the open concept kitchen, dining, and family room. This home is every designer's dream with over $375,000 in luxurious high end upgrades including but not limited to decorative wood beams, 10 ft back slider doors, built in Frigidaire refrigerator and freezer, fireplace, spray foam insulation and much more! The attention to detail in design and finishes are highly evident throughout the entire home. The backyard is your private oasis which includes a gorgeous pool complete with 2 pergolas, a rain water feature, and built in bbq which is great for entertaining. If you're looking for a timeless, luxurious home in a quiet and private neighborhood, come see what this beautiful home has to offer. **Warning Alert** BE READY to immediately fall in love!! Don't miss your chance to make this incredible home yours! Welcome home!

15406 E Cavedale Drive Scottsdale, AZ 85262

$1,500,000
4 Beds
3.5 Baths
3,304 SqFt
Status Active
MLS # 6785823
Property Type Single Family Residence
Price Type --
Resort style living at its best! This quality constructed home offers peaceful privacy, as one of only 8 luxury properties in this private gated enclave located in North Scottsdale. Enjoy open concept living space with 20 ft ceilings and formal dining. Custom finishes throughout include upgraded kitchen appliances, knotty alder wood cabinets and doors, granite counter tops and stone accent. The extra large breakfast bar along with eat in kitchen provide wonderful space for entertaining. Oversized back patio offers access to the resort-style backyard with heated pool, spa, boulder waterfall, putting green and play area. Stunning panoramic views, along with direct access to the adjacent 22,000-acre McDowell Mountain Park makes this home the perfect fit for one looking to escape the hustle and bustle of city life, but still enjoy the upscale dining, golf and shopping North Scottsdale has to offer.

10897 N 126th Way Scottsdale, AZ 85259

$1,500,000
5 Beds
3 Baths
3,356 SqFt
Status Active
MLS # 6782099
Property Type Single Family Residence
Price Type --
Enjoy this spacious 5 bedroom home located in the heart of Scottsdale! Situated on an oversized corner lot, the home offers the ideal great-room layout. Nicely upgraded by the current owner with designer features including an Artistic Glass Double Door entrance to the front living space, kitchen w/granite countertops & waterfall edge, contemporary tile backsplash, & stainless steel appliances. The kitchen opens to a spacious family room accented w/feature wall, built-in fireplace, modern tile & floating shelves. The split floor plan offers a private owners suite + 4 large bedrooms.. Swim in the remodeled pool, relax in the above ground spa or entertain by the charming gas fireplace & built-in BBQ. Large side yard offers plenty of room for Play & Pets. Updated Roof, A/C & more.

6915 E Montreal Place Scottsdale, AZ 85254

$1,500,000
3 Beds
2 Baths
2,390 SqFt
Status Active
MLS # 6686041
Property Type Single Family Residence
Price Type --
RARE OPPORTUNITY! Gorgeously updated home in the small privately gated community of The Reserve at Kierland. These beautiful homes are situated on the Westin Kierland Golf Course. This is 1 of only 17 homes in this community. Enjoy the expansive golf course views and take in the gorgeous sunsets! Incredible location in the heart of it all! Enjoy a nice evening stroll to dinner. You are just minutes from Scottsdale Quarter and Kierland shopping center which offer great shopping and restaurants.

2841 Thunderbolt Circle Overgaard, AZ 85933

$1,500,000
4 Beds
3 Baths
4,032 SqFt
Status Active Under Contract
MLS # 6669701
Property Type Single Family Residence
Price Type --
Motivated Sellers!! Attention all discerning buyers seeking a luxurious escape in the breathtaking White Mountains - get ready to be amazed! Step into this exquisite home nestled in the coveted Mogollon Airpark (AZ82) and prepare to be swept off your feet. Boasting a spacious 4032 sq ft interior with a stunning modern update, along with a 2304 sq ft hangar, this property has everything you've been dreaming of. The living space is perfect for entertaining, with a loft/apartment above the hangar providing ample room for family, guests, or even rental income. Indulge in the luxury of two dining areas, a kitchen island that seats 10, and a private balcony with sweeping views from your large primary suite featuring a steam shower, soaking tub, fireplace, and... coffee/wet bar. The hangar, 48' x 48' (43' opening), w/a Schweiss hydraulic door, plus an extended 3 car garage, and additional workshop space, offers plenty of room for your plane, vehicles, and hobbies. Enjoy direct Taxiway access for ultimate convenience. Mogollon Airpark (AZ82) is a vibrant private airport community with a 3436' asphalt runway, hosting exciting events like BBQs, happy hours, breakfast fly-ins, and soon, a Pickleball court! Located in Heber/Overgaard at 6658' elevation, just 90 nautical miles northeast of Phoenix, you'll experience mild summers and winters. The area is ATV-friendly, with forest access roads and lakes for fishing less than 30 minutes away in every direction. Don't miss out on this incredible opportunity to live the high-flying lifestyle you've always wanted!

12910 N 103rd Place Scottsdale, AZ 85260

$1,500,000
5 Beds
3.5 Baths
3,833 SqFt
Status Active Under Contract
MLS # 6768871
Property Type Single Family Residence
Price Type --
Prime opportunity to own a piece of Scottsdale's Cactus Corridor in a tranquil 10 home community. Nestled at the end of a cul-de-sac, the home boasts 3833 square feet of living space with 5 bedrooms, 3.5 bathrooms and 3 car garage. Situated on nearly an acre, the home offers Camelback Mountain views from the expansive southwest facing backyard with ramada, pool, bocce ball court and built-in barbeque. With its ideal location, expansive lot and thoughtfully designed layout, this property embodies Scottsdale's lifestyle with easy access to modern conveniences, serene mountain vistas and a welcoming community ambiance surrounding. Discover the appeal of living in the Cactus Corridor first-hand. An incredible opportunity at $375,000 below appraisal value.

1822 E Palmaire Avenue Phoenix, AZ 85020

$1,500,000
4 Beds
3.5 Baths
3,339 SqFt
Status Active Under Contract
MLS # 6743671
Property Type Single Family Residence
Price Type --
Experience modern luxury in this exceptional 4-bedroom, 3.5-bathroom home with an office space, nestled among new custom homes valued over $2 million. This home perfectly combines energy efficiency and contemporary luxury, featuring owned solar panels, an EV charger, and a solar heated/cooled pool. Enjoy four outdoor seating areas, a gas fireplace, and breathtaking mountain views, ideal for year-round relaxation and entertainment. The home is filled with premium upgrades like Thermador appliances, Moen faucets, and granite/quartz countertops. Located in a quiet cul-de-sac with no HOA fees, this property offers both privacy and style. Explore more of what this home offers: a spacious office, elegant bidets in three bathrooms, Sierra Pacific windows and doors, and extra-deep cabinets for ample storage. This unique, non-cookie-cutter design ensures you'll stand out in a community of high-end homes. Enjoy the convenience of built-in pest control stations and close proximity to hiking trails, Piestewa Peak, and a canal. Don't miss this exceptional opportunity to live in luxury!

5124 N 10th Way Phoenix, AZ 85014

$1,500,000
5 Beds
4.5 Baths
3,809 SqFt
Status Active Under Contract
MLS # 6748714
Property Type Single Family Residence
Price Type --
**PRICED UNDER APPRAISED VALUE!!** Tucked in a private enclave of new Luxury homes by Thomas James Homes. This 5 bed, 4.5 bath, modern style home comes complete with an open concept split floorplan and an attached private entry casita featuring a bedroom, bath and a home office or gym. The design of the home is perfect for entertaining, with a gourmet kitchen featuring high-end stainless-steel appliances, quartz countertops, and a massive island. The home has a very large great room, and floor-to-ceiling windows that flood the space with natural light. Retreat to the spacious grand suite, complete with a spa-like bathroom and large walk in closet. The three additional bedrooms are generously sized and offer ample closet space. The lush backyard is complete with patio and swimming pool. A very large upstairs bonus room offers additional family living space. A bike ride away from Luci's at the Orchard, Rokerij and minutes from the 51, close to the Valley's best schools, including Brophy and Xavier.

18140 W Marshall Court Litchfield Park, AZ 85340

$1,500,000
4 Beds
4.5 Baths
3,896 SqFt
Status Active Under Contract
MLS # 6737384
Property Type Single Family Residence
Price Type --
Brand New Beautiful Custom Home In Lovely Gated Community!! This custom built home was crafted with high end features from construction to cosmetics. 4 bedrooms, 4.5 bath, en suites in every room. Additional office space, plus another game room/theatre room/bonus room. High end gourmet kitchen with custom cabinets. Beautifully landscaped exterior and interior with firepit, spa and pool! Marble entryway, 16 ft wide by 10 ft high sliding door, oversized garage with 14 ft RV gate. Enjoy this private community close to mountain trails, while still conveniently located next to a variety of shops, restaurants, and freeway access! Definitely a must see!!

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