Fill and Sign the Glossary of Terms Arizona Department of Liquor Licenses and Control Form

Agreement for the Sale and Purchase of Residential Real Estate The undersigned Sellers agree to sell and the undersigned Buyers agree to buy the herein described property on the terms and conditions stipulated in the following schedule. 1. Property Description: _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 2. PRICE: The purchase price of the property is .................................$_________________ Payable as follows:A. Cash down payment . . . . . . . . . . . . . . . . . . . . . $_________________ B. Buyers shall qualify for a mortgage loan in the amount of $_________________ This contract is contingent on Buyers obtaining a first mortgage loan at no greater than __________________ ( )% by the closing date. 3. Seller agrees to pay up to, but no more than ______________________ ($ ) in total closing costs. (Alternative: Said closing costs shall be allocated as follows:)Discount Points: ; Origination Fee: ; Title Insurance: ; PMI: ; Attorney's Fee: Survey: ; Appraisal ; Termite Certificate ; Other Closing Costs: . 4. DEPOSIT: Buyers have deposited with Sellers the sum of
................20,000 for title and registration fee. 5. Buyers shall pay closing costs in the amount of % by the close of the sale. 6. Buyers shall pay any mortgage insurance premiums on the property. 7. Seller agrees to pay to buyers an escrow account of % of the total amount of sale. (alternative: said escrow account shall be used for the purchase and sale of future real property; said money shall be returned when the property is sold.) 8. Interest rate: buyer's closing costs will be due as a percentage of the sales price over a monthly, three-month period. The percentage of closing costs to be paid is:. . . . . . . % 9. Buyers have entered into an assignment and conveyance agreement with the owners. 10. Buyers have agreed that a deed of trust be executed naming the buyers as beneficiaries and selling the property, as well as the cash payment, as collateral. 11. The amount of the sellers commission for the auction sales is (). 12. Sales will occur at the time and site specified. 13. Buyers will be paid in cash on the full amount of sales and upon completion or by the closing date. 14. A lien on the property will be formed on the closing date by the seller for the sellers commission for the auction sales is ().16. Buyers' accounts payable date, ------------------------(day) is ------------------------(day). 17. Buyers and sellers agree to pay their respective attorneys at ()% by the close date. (alternative: , said closing date for attorneys is the same time and date as the closing date of the agreement.)18. Buyer shall execute and deliver to a release by the buyer to sellers and to buyers. 20. The auctioneers shall, if desired, have the right to sell the property on behalf of sellers and buyer, but shall not, without the buyer's agreement, buy any property for the account of said buyer, and shall not be a party to any contracts entered into for said sale. The buyers shall pay to the auctioneers a perm anent monthly amount due the auctioneers at per month with no interest charge, at a total amount of % after all payments are made in full. The buyer agrees to pay the auctioneers fees due at per day over the term of the sale