Understanding Real Estate Contracts and What You Can Expect to Find

There 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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37300 N School House Road Cave Creek, AZ 85331

$2,875,000

3 Beds

4 Baths

3,701 SqFt

Status Active

MLS # 6610024

Property Type Single Family Residence

Price Type --

RISE ABOVE IT ALL!!! FANTASTIC 360-degree views, exceptional privacy, yet blocks away from COUNTRY DANCING, dining, shopping, golf, and all the watering holes that Historic Cave Creek has to offer. Quality constructed custom home by Presidio Homes has been lightly lived in, still has that NEW HOME FEEL. Buyers will appreciate the detail, planning and finish of this home. Carefully integrated into the mountain for unsurpassed views of surrounding mountains, spectacular sunrise/sunsets and city lights by night. Every detail of the home was carefully planned by owner/structural engineer. Indoor/ outdoor living, privacy and top of the world views as the home borders Black Mountain Preserve!! A 320-acre paradise outside your door.

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10492 N 128th Place Scottsdale, AZ 85259

$2,870,900

3 Beds

3.5 Baths

3,034 SqFt

Status Active

MLS # 6644608

Property Type Single Family Residence

Price Type --

Quicker move-in opportunity at Camelot Homes newest Scottsdale neighborhood. This beautiful gated neighborhood features contemporary designs with amazing indoor/outdoor living spaces. This new floorplan includes 3 bedrooms/3.5 bath plus den. The modern custom kitchen is a chefs dream with Wolf/Sub Zero appliances. The light and bright great room has upgraded drop ceiling, iron fireplace, and sliding glass doors. The owners retreat offers a spa like experience with sliding glass doors to the serene backyard. The stunning courtyard has a resort like pool with stunning fountains and sunken barbecue area.

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23625 N 63rd Drive Glendale, AZ 85310

$2,860,000

4 Beds

4.5 Baths

4,332 SqFt

Status Active

MLS # 6765081

Property Type Single Family Residence

Price Type --

MODERN NEW CONSTRUCTION FINISHED 2023. Sleek single-level, panoramic views, anabundance of glass showcasing a mountain backdrop capturing the ultimate privacy. A car lovers dream includes two RV 14' door garages (one drive through) paired with an enclosed air conditioned loft/flex space, 4 garage stalls in total, air-conditioned (with RV hookups)! If you seek space for boats/toys, RV, and/or car collectors - this is your home! The timeless finishes create harmony among the open cooking space, a full-height kitchen backsplash, modern cabinets a palatial island, hardwood floors, modern fireplace, Thermador stainless steel appliances, 10' glass retractable doors, 12' ceilings throughout, MASSIVE GAME ROOM with wine and bourbon storage, a separate office, mud room, two laundry set-ups, two oversized ensuites and primary bedroom which will leave you speechless. The spectacular demonstration of floor to floor-to-ceiling glass shower and soaking spa tub is the final touch of this residence. The resort like pool, outdoor living and entertainment space - a masterpiece, every single box checked of your most particular buyer. There is not a dollar spared, a feature missed. Gated, single level, abundant natural light, quality which you can not rebuild for.

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28083 N 109th Way Scottsdale, AZ 85262

$2,850,000

4 Beds

4.5 Baths

3,500 SqFt

Status Active

MLS # 6777402

Property Type Single Family Residence

Price Type --

Serene is brand new gated enclave of 21 cutting edge single level contemporary homes designed by Swayback Architects & Planners and built by Sonora West Development. Each Serene home brings a new definition to the ''Lock and Leave'' lifestyle with open Great Room floor plans perfect for both entertaining and everyday living. There are four different models to choose from with lavish interior finishes created by renown interior designers Est Est. This Model B is available with 3 Car Tandem at 3,290/sf (Also available at 3,500/sf with 2 car garage.) Either configurations available only on lots 1, 3, 5, 8 & 19. Base price shown does not include lot premiums or upgrades but does include 25K pool and a 25k landscape allowance, Subzero & Wolf Appliances & BBQ.

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2201 E Marshall Avenue Phoenix, AZ 85016

$2,850,000

5 Beds

3.5 Baths

5,777 SqFt

Status Active

MLS # 6776052

Property Type Single Family Residence

Price Type --

THE Luxury Mid-Century Modern home you've been waiting for! Near-acre irrigated lot offers a desert botanical garden-landscape in a coveted Biltmore-area location. Boasting 5777/SF+- of MCM perfection and space for all: 5 beds, 3.5 baths, gallery, studio and guest house; architectural details include vaulted/beamed ceilings, clerestory windows, terrazzo floors, abundant light. Updated primary suite and kitchen offer custom built-in detail. Primary suite has generous closets, luxurious bath and office. Step-down living room commands conversation w/'60's-era quarried rock fireplace. Period-perfect center door knob welcomes; original wood elements and floor to ceiling windows anchor the home to the outside. Resort-style heated pool, generous patios & water feature exude serenity-WOW!!! MORE Features: Coveted Location in the Biltmore/Camelback Corridor True MidCentury Modern Architecture Exceptional & varied MCM Rooflines Over 5700 SF Home on a 36+K SF Pristine Lot 5 Beds; 3.5 Baths, w/ Guest House!!! Lush Landscaping & Exquisite Cacti Specimens Botanical Garden-Esque Paths of Serenity Pride of Ownership Present at Every Turn Roof Overhangs & Deep Shade Pockets Roof Recoated in '19 & one 5 Ton Trane HVAC in '22 Lovely Wood & White Kitchen w/ Loads of Storage Walls of Windows, Skylights & Clerestories Envelopes Light Vaulted & Beamed Ceilings & Repetitive Columns add Symmetry Living Room has Spectacular Spaces that Inspire Step Down Living Room Commands Conversation Terrazzo Floors Inside w/ a Scored Concrete Pool Surround Dramatic Angular Heated Pool Invites a Look & Dip Water Feature Connects Garden to Pool Seamlessly Patios & Special Enclaves Throughout Build-In's in the Home Office you Need Art Crafted Gates & Circular Paths Usher You In 60's Quarried Rock Wall & Fireplace of Time Gone By Central Door Knob Accentuates this Period Front Door Inverted Corner adds Visual Interest Primary En-suite: 2-Sided Vanity, Jetted Tub & Shower NO HOA Workshop/Studio, Game Room, Bonus Spaces, Office 2 Car Garage Plus 1 Carport & More Parking North South Exposure & Mountain Views

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40485 N 109th Place Scottsdale, AZ 85262

$2,850,000

4 Beds

4.5 Baths

4,800 SqFt

Status Active

MLS # 6745877

Property Type Single Family Residence

Price Type --

This beautiful, meticulously maintained custom home boasts an ideal floor plan.The open-concept layout features a chef's kitchen & wet bar, seamlessly connecting to the expansive dining and living areas, enhanced by mountain & city light views.The luxurious primary bedroom offers a cozy fireplace & direct access to the backyard, while the primary bath is a haven of comfort with 3 separate vanities & two walk-in closets. A dedicated bedroom wing includes 2 ensuite bedrooms & a 300 sq ft casita with a fully equipped kitchen.The outdoor living space is equally impressive, featuring a negative-edge pool & spa, a firepit, a built-in BBQ, & a large covered patio, perfect for entertaining. Enjoy panoramic 360-degree views from the upper deck. A Four Seasons Membership is available upon approval

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10050 N 58th Place Paradise Valley, AZ 85253

$2,850,000

5 Beds

3 Baths

4,004 SqFt

Status Active

MLS # 6762145

Property Type Single Family Residence

Price Type --

Prepare to be pleased with the warmth, beauty and usability of this home. Front door takes you past dining and conversation rooms to a spacious kitchen with a large island, gas cooktop and is open to the great room. Dine at your kitchen table and enjoy views to the resort-like back yard, complete with covered patio, BBQ grill area, pool slide and covered grotto with waterfall. Heated jacuzzi, pavered conversation area and grassy area complete the backyard. Primary suite includes office, spa-like bathroom and a spacious, organized closet. Enjoy three other bedrooms, plus a FLEX room or additional (5th) bedroom. Laundry room can also be used as a craft room. Extensive solar panel system is owned, along with smart home automation: nest thermostats, security cameras and alarm system.

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15512 E Desert Hawk Trail Fountain Hills, AZ 85268

$2,850,000

4 Beds

6.5 Baths

5,582 SqFt

Status Active

MLS # 6765753

Property Type Single Family Residence

Price Type --

Welcome to this stunning Firerock home, where luxury and comfort converge. Designed for seamless living, this gem lives like a single level and boasts a lower walk-out level with a game room, wine room, and a private movie theater. The great room, adorned with an automatic slider, opens to an enormous covered balcony—perfect for indoor/outdoor entertaining. A Cantera fireplace with fire crystals adds warmth and elegance. The heart of the home is the gourmet kitchen, featuring not one but two kitchen islands and top-of-the-line Viking appliances. All bedrooms are en-suite, ensuring privacy and convenience. Additional highlights include a separate casita, a cutting-edge Lutron automated lighting system, custom drapery, and exterior sensor shades. Movie enthusiasts will appreciate the dedicated theater room, while an elevator adds practicality. Step outside to the resort-style backyard, complete with a spacious covered balcony, large patio, and two built-in BBQ areas. The pool, spill-over spa, water feature, and fire pots create an oasis for relaxation. Plus, this home is equipped with four new HVAC units and a brand-new tile roof backed by a 40-year transferable warranty.

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6214 E Calle Rosa -- Scottsdale, AZ 85251

$2,850,000

5 Beds

3 Baths

3,224 SqFt

Status Active Under Contract

MLS # 6780956

Property Type Single Family Residence

Price Type --

Immaculately maintained Arcadia charmer. Remodeled in 2018. Light and bright throughout. Split floor plan with large master closet. 4 additional bedrooms and 2 bathrooms on kids wing. French doors open to large backyard with pool, plenty of grass for kids and no overhead power lines. Front patio adds perfect area for Arcadia neighborhood living. Additional golf cart parking on side of home. Located in a darling cul de sac and ready for the next family to enjoy!

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2112 Forest Mountain Road Prescott, AZ 86303

$2,850,000

5 Beds

5.5 Baths

6,019 SqFt

Status Active

MLS # 6690696

Property Type Single Family Residence

Price Type --

Stunning and serene home in the luxurious community of Hassayampa Village. This extraordinary property will captivate you upon your arrival! Gorgeous gourmet chefs kitchen featuring an Earthstone pizza oven, built-in Miele coffee machine, ample cabinets and countertops. Family room space is cozy with uniquely designed fireplace. Living room architecture commands attention with its soaring ceiling, wall of windows, hardwood floors and breathtaking views of Thumb Butte. Main deck just off living room is a phenomenal spot for dining and stargazing. Master suite has remarkable fireplace, wet bar, dual vanities and closets, garden tub, and large shower. Step out onto you private deck with spa, fireplace and incredible views. Office/den, laundry room and 2nd full bath on same level as master. Lower level features 2 bedrooms- 1 ensuite, steam shower bathroom, dry sauna, wet bar, Cinema style theatre room, wine cellar and additional stackable washer/dryer closet. Large loft consists of wet bar and great view overlooking the living room, a cozy 4th bedroom with fireplace and bathroom. The office/den does make this easily a 5 bedroom home if space is needed (closet in pictures). 3 car garage, 4 outdoor entertaining spaces, 3 fireplaces as well as a fire pit off family room patio that puts you right in touch with nature! New lower deck addition with brand new Endless X500 swim spa (Completed April 2024). This sensational home not only offers unmatched luxury but was originally designed as a corporate retreat!

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10662 E Mark Lane Scottsdale, AZ 85262

$2,850,000

4 Beds

4.5 Baths

4,266 SqFt

Status Active Under Contract

MLS # 6756792

Property Type Single Family Residence

Price Type --

ONE OF A KIND custom Home situated on a premium .82 ACRE lot PERCHED above the Troon Monument GOLF COURSE in GATED Pinnacle Canyon. Enjoy BREATHTAKING VIEWS of the course & mountain vistas! The Wonderful SPLIT Floorplan boasts a Large Primary Retreat, all ENSUITE BEDROOMS, an EXECUTIVE OFFICE & a DETACHED 1/1 CASITA! The thoughtful design features 12-foot ceilings paired w/ expansive picture windows, elegant formal living & dining rooms, spacious great room, a chic wet bar & cozy fireplace to create the ideal setting for both everyday living & upscale entertaining. The grand kitchen includes double ovens, butlers pantry, Kitchen island w/ breakfast bar & an abundance of cabinets! Relax in the backyard oasis by the pool, spa, tranquil water feature, fireplace or firepit! BRAND NEW Roof!

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750 Rhapsody Road Sedona, AZ 86336

$2,850,000

4 Beds

4 Baths

4,125 SqFt

Status Active

MLS # 6734090

Property Type Single Family Residence

Price Type --

SWEEPING 360 VIEWS OF SEDONA from three levels! Tucked into the forest on two sides & overlooking all of Sedona West from Jerome to Cathedral & Bell Rock South, all across Sedona to Mogollon Rim & Sedona's uptown rock monoliths as the town gives way to Oak Creek Canyon! In addition, an office & artist studio are included in the 4,125 sq ft. The home is the crown jewel on Eagle Rock in highly sought-after West Sedona. Dawn to dusk nature entertains as the legendary Sedona red rocks turn incredible colors of pink, orange & magenta as sun & shadows migrate the landscape. Every room offers natural light & rooms wrapped in views w/decks to extend the experience outside. The kitchen is generous in size with polished granite counters, see supplement.. stone backsplash, wine fridge & stainless appliances, a breakfast bar & great room dining. A 21'x27' deck off the great room offers a dining space, hot tub, firepit & lounge area. The cozy primary bedroom features beautiful tiger wood flooring, complemented by a private patio with access to the national forest. Wake up to the breathtaking views of stunning red rocks in this inviting love nest. The bath reveals a glass surround shower & soaking tub with a view! Cabinetry is topped with dual vanities and polished solid granite counters. Guest rooms, including a second master suite with a private patio, are located for privacy. The top-level room, a 569 sq. ft. sunroom/art studio, is wrapped in forever views and has a deck overlooking forestry & red rock wonders. Outdoor enthusiasts with revel in the easy access to premier hiking trails like Sugarloaf, Thunder Mountain, and Soldier's Pass. 2-car garage is long, providing workspace. Low maintenance, lock & leave property with security system. From EVERY ANGLE of the outdoor space, your eyes are thrilled by red rocks! Never before offered & sure to sell quickly.

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