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Yes, wholesaling real estate is legal in Arizona.
An earnest money or "arras" is usually given by the prospective buyer to the seller. This is to show that the buyer is interested in purchasing the property. The main purpose of the earnest money is to bind the bargain. It is also considered as part of the purchase price and will be deducted from the total price.
In Arizona, sellers are required to complete a real estate purchase agreement and the following disclosures in order for it to be considered legally binding: Buyer Inquiry. ... Comprehensive Loss Underwriting Exchange (CLUE). ... Swimming Pool Barrier Disclosure. ... Condo Disclosure Information. ... Notice of Soil Remediation.
A property sale contract is a legally binding document containing the terms and conditions agreed upon between a seller and buyer in relation to goods. It also lists all the relevant information related to the property, such as names and addresses, the conditions of sale and the price.
A contract is legally binding in Arizona if it involves an offer, acceptance of the offer, and \u201cconsideration\u201d \u2014 which means value can be money or labor.
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People also ask

Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.
Assignability may be found in some options and futures contracts. There are also assignable contracts in the real estate market that allow the transfer of property.
What are the six essential elements for an enforceable real estate contract? In writing, competent parties, mutual assent, legal consideration, lawful object, legal description.
The general rule under Arizona law is that a buyer's interest in a real estate purchase agreement is freely assignable, absent restrictions or prohibitions in the underlying purchase agreement to the contrary.
The Elements of a Valid Contract Offer and Acceptance. An offer occurs when one party presents something of value that they wish to exchange for something else of value. ... Consideration. ... Mutuality or Intention. ... Legality. ... Capacity. ... Creating Your Next Contract.

arizona real estate purchase agreement