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.

Click Here to See What Your Home is Worth

5548 W Silverdale Road Queen Creek, AZ 85144

$1,100,000
5 Beds
3 Baths
2,720 SqFt
Status Active Under Contract
MLS # 6697389
Property Type Single Family Residence
Price Type --
NEW CUSTOM HOME on 3.3 acres that will include 5 bedrooms, study/office/den, 3 bathrooms, quartz countertops, LVP flooring, designer tile surrounds in bathrooms, N/S exposure, privacy and the most breathtaking views of San Tan Mountains. Bring your horses, bring your friends and enjoy all Silverdale has to offer!

2938 N 82nd Street Scottsdale, AZ 85251

$1,100,000
3 Beds
2 Baths
2,098 SqFt
Status Active
MLS # 6777440
Property Type Single Family Residence
Price Type --
Step into a one-of-a-kind oasis in the heart of Scottsdale! (Interior photos coming soon) This fully renovated Spanish Revival home combines timeless Southwest charm with modern luxury. Featuring 3 bedrooms, 2 beautifully updated bathrooms, and 2,098 sq ft of living space, this home offers the perfect balance of comfort and style. The stunning interior boasts hand-crafted windows, doors, and custom concrete cabinetry. The authentic Saltillo tile and a cozy fireplace adds a touch of warmth to the living area. The expansive backyard is a true retreat, complete with a sparkling new pool, mature citrus trees, and plenty of space to entertain or relax under the Arizona sky. Nestled on an 8,760 sq ft lot, the home offers a peaceful yet vibrant setting, with it being located just minutes from Old Town Scottsdale's world-class dining, nightlife, and cultural attractions. Designed and inspired by charm found in Joshua Tree, Tulum, and western Spanish-style homes, this property features striking architectural details that set it apart. Located in a friendly, well-established neighborhood within the Scottsdale Unified School District, and with easy access to the 101 Freeway just minutes away, this home truly offers the best of both worldsprivacy and convenience. Experience the beauty and charm of this exceptional home in person!

11063 E Gamble Lane Scottsdale, AZ 85262

$1,100,000
3 Beds
3 Baths
2,751 SqFt
Status Active
MLS # 6777021
Property Type Single Family Residence
Price Type --
Nestled in Scottsdale's prestigious Troon North community, this upgraded, single-level home provides the perfect retreat in one of Arizona's most sought-after neighborhoods. Situated on a premium corner lot, the ideal location enhances the home's overall privacy and appeal. With beautiful desert landscaping, enjoy seasonal fresh oranges & lemons, a welcoming front courtyard and a manicured façade, the exterior sets the tone for the elegance within. Once inside, you'll be greeted by an open-floor plan that effortlessly flows from room to room. A spacious living area offers high ceilings and large windows, creating an airy atmosphere while showcasing the entertaining backyard. While in residence, the owners have undertaken over $250K in improvements, offering warm tones & finishes (more) throughout, including Saltillo & wood floors, custom lighting, plantation shutters, upgraded interior & exterior paint & electric shades. The gourmet kitchen is equipped with stainless steel appliances, Brazilian granite countertops & backsplash, a generous island that's perfect for entertaining & a picturesque view of the surrounding landscape. Home theater wired for 7.2 surround sound with inbuilt speakers. An inviting primary suite offers a serene escape & provides direct access to the outdoor pool. The ensuite bath features dual vanities, a jetted tub, and a spacious walk-in shower. Two additional BR's (one w/ access to the front courtyard) a hall BA & a separate office w/ ensuite provide ample space for work & guests. The highly favored 3CG is equipped with epoxy floors & custom built-in storage. Discover your own private backyard oasis thoughtfully enhanced & designed with entertaining in mind, featuring a sparkling pool with waterfall feature, spacious patio, a built-in BBQ & custom fireplace, & manicured landscaping. Ascend to the rooftop observation deck, where you could take in the surrounding mountain views from Tom Thumb to South Mountain, stunning sunsets, captivating city lights & night skies. Located in the heart of Troon North, this home offers access to world-class golf, nearby trails, and the vibrant Scottsdale lifestyle. Don't miss the opportunity to own this remarkable residence that perfectly blends comfort & convenience!

3818 E Stacey Road Queen Creek, AZ 85142

$1,100,000
4 Beds
3.5 Baths
3,122 SqFt
Status Active
MLS # 6773153
Property Type Single Family Residence
Price Type --
Welcome to a masterpiece of modern luxury living, boasting over $250K in upgrades and situated on a nearly one-acre lot. From the moment you arrive, the impressive $40K paved driveway and circular drive catch your eye, surrounded by elegant wrought iron fencing that offers privacy and style. Step inside and be greeted by real oak wood flooring, soaring 14-foot ceilings in the primary living area, and upgraded art showcase recessed lighting, creating a spacious, airy ambiance. The double sliding glass patio doors open to the large paved patio and backyard, making indoor-outdoor living seamless and perfect for hosting. The kitchen is a true chef's delight, featuring $75K rustic maple cabinets imported from Oregon, complemented by $25K in granite countertops. The centerpiece is the grand stone-covered island, providing ample counter space for cooking and entertaining. Additional features include new stainless steel appliances, extended cabinetry for optimal storage, and a walk-in pantry complete with a separate standing freezer. The $10K stylish backsplash in the kitchen and bathrooms adds a sophisticated touch, while the upgraded lighting and electrical packages ensure every detail shines. The primary suite is nothing short of a private sanctuary, offering a luxurious soaking tub, a massive tiled shower with a built-in bench, and multi-function rain and adjustable hose showerheads. The suite also boasts a huge walk-in closet with direct access to the spacious laundry room featuring custom cabinetry. Throughout the home, plank-style tile flooring in the bathrooms, spray-in foam insulation for lower utility costs, and dual AC units enhance both comfort and energy efficiency. With an extended length three-car garage and no HOA, this home is the perfect blend of luxury and practicality.

8052 E Mcdowell Road Mesa, AZ 85207

$1,100,000
3 Beds
3 Baths
3,100 SqFt
Status Active
MLS # 6773536
Property Type Single Family Residence
Price Type --
Discover this exceptional private custom home with no HOA on a sprawling .968-acre lot in Mesa's sought-after County Island. Offering stunning mountain and city light views with pristine desert landscaping, this location truly has it all. This meticulously built single-level home features beautiful architectural details like coffered and tray ceilings, crown molding, wood flooring, and 4'' baseboards. The formal living and dining room offer great flex space, while the family room, enhanced with shiplap and an electric fireplace, seamlessly opens to the kitchen. Enjoy knotty oak cabinets, ample counter space, and a spacious walk-in pantry. The master suite includes a full bath, and all bedrooms come with walk-in closets. Outdoor amenities include a covered patio, BBQ area, gated backyard, and an additional gated space perfect for your toys and cars. Sellers have invested over $144K in upgrades over the last year and a half, including a new sparkling pool completed in November 2024. New carpet throughout. Both front and backyards have been fully cleared, excavated, and graded. Some interior walls were moved to create an open floor plan, plus a bonus room perfect for a home office or business. The powder room was converted into a full bathroom. Energy-efficient windows were added along with new window treatments. Fresh interior paint and several kitchen appliances. Conveniently located near the 202 HWY, shopping, lakes, and hiking trails. Benefit from city water. Don't miss this unique opportunity!

5116 N 190th Drive Litchfield Park, AZ 85340

$1,100,000
5 Beds
3.5 Baths
4,310 SqFt
Status Active
MLS # 6736228
Property Type Single Family Residence
Price Type --
Step into your luxurious 5-bedroom, 3.5-bathroom haven nestled in sought-after Litchfield Park, where breathtaking mountain vistas and captivating sunsets await you in your entertainer's paradise of a home! Your 2022 fully renovated outdoor oasis boasts a heated pebble tech pool, a built-in BBQ, a synthetic turf cornhole court, mini-golf amenities, and a cozy gas fire pit surrounded by seating. Added privacy with no rear neighbors, offering a serene retreat. Stepping inside through the double slider door, the entertainment continues in the grandeur of the great room, featuring an inviting electric fireplace, sleek polished concrete floors, and soaring ceilings. The kitchen, the heart of the home, beckons with its stainless steel appliances, double wall ovens, quartz countertops, and a convenient breakfast bar. The first floor primary bedroom boasts a grand entryway overlooking the pool, a lavish ensuite with two separate sinks, a large soaking tub, a spacious rain shower, as well as a sizable custom walk-in closet seamlessly connecting to your laundry room. The first floor rounds out with a built in custom wet bar area and additional entertainment space that welcomes the party inside. Guests have a seperate half bath on the first floor as well. The additional four bedrooms found upstairs are anchored by a generous loft and game room area along with space to build workstations in the hall area for additional work or school from home flexibility. The home features a three-car garage and is thoughtfully set back from the street to provide additional private parking in the extended driveway. INVESTORS take note, This home is an active short term rental with successful reviews and rental history and stays already booked that can transfer to you! You will want to see this one!

3946 E Meadowbrook Avenue Phoenix, AZ 85018

$1,100,000
4 Beds
3 Baths
1,900 SqFt
Status Active
MLS # 6765658
Property Type Single Family Residence
Price Type --
Location, Location, Location! Possible short term creative financing. Your opportunity awaits to live your best life in Arcadia Lite, one of the most sought-after areas in all of Phoenix for homes under $5M. This incredible 10,019 sq.ft. lot is perfect for building your dream home, remodeling the current home for your self or a making it a luxury rental property. It's prime location offers convenience and luxury as it is situated just moments away from Postino, Ingo's and LGO, and within minutes of Paradise Valley, Camelback Mountain, hiking trails, Scottsdale Fashion Square, Biltmore Fashion Park and Sky Harbor International Airport. This property is a must see.

5202 W Soft Wind Drive Glendale, AZ 85310

$1,100,000
4 Beds
2.5 Baths
2,692 SqFt
Status Active
MLS # 6735125
Property Type Single Family Residence
Price Type --
Original owners are now selling this fabulous, well-maintained custom 4 bedroom, 2.5 bath single-level home in the wonderful Saddleback Estates. This home sits on a spacious north/south exposure lot of .823 acres with mountain views, a desirable RV gate and parking with RV clean-out, and no HOA to worry about. Recent upgrades include a new hot water heater installed in 2024, a new A/C unit in 2010, and a new roof in 2019. Once inside, appreciate the spacious open floor plan, durable tile flooring in all the right places, a soothing neutral color palette, and a welcoming formal living and dining room with an easy flow into the gourmet chef's eat-in kitchen. Here, you can enjoy matching black appliances, view windows above the kitchen sink bringing in natural light, ample cabinet and countertop space, and a large breakfast bar open to the family room featuring a cozy fireplace. The family room seamlessly flows into the breakfast room, which highlights a double door exit to a side patio, making it easy to entertain family and friends. From the family room, you have wonderful access to the extended covered patio, bringing the outdoors in and extending your entertainment area. Enjoy the putting green, built-in BBQ, and fireplace. The property also includes a detached 2-car garage and workshop with RV parking, plus an additional 2-car carport, along with ample room for endless possibilities. The main house is equipped with a 2-car attached garage and plenty of slab parking for additional vehicles or an RV. Back inside, the primary suite offers a private exit to the side yard and a lavish ensuite bathroom with a custom tiled walk-in shower, deep soaking tub, dual sinks, additional vanity space, and a large walk-in closet. The three remaining bedrooms include one with a separate exit and a kitchenette, a guest bath, powder room, a spacious private office, and a convenient laundry room that includes the washer and dryer. Located in a great area close to top-rated schools in the Deer Valley School District, Glendale Community College, Hurricane Harbor for entertainment, Thunderbird Park and Deem Hills for hiking and biking trails, and just minutes to I-17 Freeway and the Norterra area for shopping and popular restaurants. Don't miss this incredible opportunity!

7320 E Sliding Stop Lane Cornville, AZ 86325

$1,100,000
3 Beds
2 Baths
2,258 SqFt
Status Active
MLS # 6732998
Property Type Single Family Residence
Price Type --
If private, cozy and quiet is what you are looking for, look no further. This property is an outdoor enthusiasts dream. Bordering US Forest Service land (no motorized vehicles allowed) gives you the opportunity to hike, bike or trail ride literally right out your back door. This 2258 square foot 3bed/2 bath custom home offers a split floor plan, vaulted ceilings, large windows that allow plenty of natural light and the ability to enjoy the amazing 360 degree views. For the horse lovers there are 3 covered horse stalls, round pen, hot walker, arena and a turnout, For the athlete there is a basketball court, pool table and a hot tub. Property is fully fenced to house all of your furry friends. This is a truly one of a kind property, so come take a look.

917 N 8th Street Phoenix, AZ 85006

$1,100,000
2 Beds
1 Bath
1,465 SqFt
Status Active
MLS # 6741219
Property Type Single Family Residence
Price Type --
Sale includes 917 & 921 N 8th St. 8th & Roosevelt consists of a historic home and additional land for development, located in the heart of the Garfield Historic District. The property sits on approximately a half-acre (gross) of land that is zoned R-5. The seller has a site plan to add (11) 1-bedroom units and (2) 2-bedroom units along with amenity space between the new units and the existing historic home. This would be a perfect small apartment community or short-term rental building in a ''Melrose Place'' type setting in downtown Phoenix. This is a fantastic, bite-sized opportunity for the seasoned investor or a local creative / artistic developer who wants to do a unique, fun project in the heart of one of the busiest, most dynamic, and eclectic areas in the entire Valley. 8th & Roosevelt is an awesome value-add / development opportunity in the heart of Downtown Phoenix. The property is located just east of 7th Street right off of Roosevelt in the heart of the gentrifying Garfield Historic District. Roosevelt and 7th Street is the east entrance to the happening Roosevelt Row district in the epicenter of Downtown Phoenix. It is minutes to the stadium district and a short bike ride / walk to the downtown ASU campus, Phoenix Burton Barr Library, and the Phoenix Art Museum. It is also minutes to Margaret T. Hance Park, which is the location of hundreds of activities including the McDowell Mountain Music Festival and many weekend food / craft festivals throughout the year. It is approximately a half mile to the I-10 Freeway to allow quick and easy access to all parts of the valley. This location is as central is it gets and allows residents to enjoy, with ease, so much of what Downtown and Midtown have to offer. With many dining, shopping, and entertainment options, as well as multiple freeway access points within minutes, 8th & Roosevelt Redevelopment Opportunity will prove to be a great place for residents to live as well as will be a very attractive parcel for a future class-A redevelopment in an A location. Phoenix is consistently on every national list for net influx of people and jobs, and the downtown area is expected to continue to explode with huge job growth in many different sectors; with Arizona State University's downtown campus rapidly expanding (already over 11,000 students and rapidly growing); with massive amounts of biotech investment and development in the area (the new Creighton University is approximately 2 miles away in midtown; the Phoenix Biomedical HUB is a couple blocks away; the stadium district is minutes away; the warehouse district is exploding around the corner to the south; and more). Opportunities like 8th & Roosevelt are rare and offer an investor a great value-add opportunity in one of the most active and desirable areas in the country.

77 S Arroya Road Apache Junction, AZ 85119

$1,100,000
3 Beds
2.5 Baths
2,415 SqFt
Status Active
MLS # 6753042
Property Type Single Family Residence
Price Type --
Imagine--your perfect Arizona homestead! Peace & quiet on the outskirts of the city, and adventure and exploration in horse country awaits with just shy of 4 acres for your horses, trails immediately adjacent to your property on expansive BLM land, and breathtaking views of the Superstition Mountains. More info and professional photos coming soon!

32029 N 20th Lane Phoenix, AZ 85085

$1,100,000
5 Beds
4.5 Baths
4,019 SqFt
Status Active
MLS # 6752163
Property Type Single Family Residence
Price Type --
5 bedroom and 4.5 bathroom, two story home with a private lot and pool. Completely remodeled. New kitchen, bathrooms, showers, all new flooring including hard and carpet. New cabinets, new paint inside and outside, lighting fixtures and fans, fireplace, high end appliances, laundry upstairs and downstairs, and so much more! You will have plenty of space to entertain inside the home as well as outside around the pool. Quiet, gated community and home sits on a cul-de-sac. Solar panels for cost savings of 50% or more on electric bill. Community includes walking paths, pool, spa, and fully remodeled clubhouse and new amenities! This home will truly amaze you and it's a must see.

Leave a Reply

Your email address will not be published.