📄 What Goes into a Real Estate Contract? (May Buyer & Seller Edition)

Understanding Timelines, Contingencies & Key Negotiation Points

Whether you're buying or selling in Arizona this May, understanding the real estate contract is essential. It’s more than just paperwork—it’s the legal foundation of the deal. And in a shifting market, being informed about what’s inside can make or break your transaction.

Let’s break it down in simple terms ⬇️

🕒 Key Timelines to Know

Every contract comes with a timeline of deadlines, and staying on track matters.

For Buyers:

• Earnest Money Deposit: Usually due within 1–3 days of contract acceptance.

• Inspection Period: Typically 10 days from contract signing. Use this time wisely!

• Loan Approval Deadline: Often 15–25 days in, depending on your lender.

• Closing Date: Agreed upon by both parties—usually 30–45 days after acceptance.

For Sellers:

• Be prepared to respond quickly to repair requests and paperwork.

• Understand that delays from buyers (financing, inspections) may happen—but good communication keeps things moving.

🛑 Contingencies That Protect Both Sides

Contingencies give each party a way to exit the contract legally if certain conditions aren’t met.

Common Contingencies Include:

• Inspection Contingency: Allows buyers to renegotiate or walk away based on the home’s condition.

• Financing Contingency: If the buyer’s loan falls through, they can cancel without penalty.

• Appraisal Contingency: If the home doesn’t appraise for the contract price, the buyer can renegotiate or exit.

• Home Sale Contingency: The buyer must sell their current home before purchasing yours.

🔍 Pro Tip: Make sure you understand what’s negotiable—and what’s a deal-breaker.

🤝 Negotiation Points You Can Expect

Today’s market allows more give-and-take than last year’s red-hot pace. Here are a few things commonly negotiated in Arizona:

• Closing costs: Buyers often ask for help covering these.

• Repairs: Based on inspection findings, sellers may fix issues or offer credits.

• Inclusions: Appliances, window treatments, and furniture can be deal sweeteners.

• Closing timeline: Flexibility here can make your offer more attractive.

📌 Remember: What’s “standard” can shift based on local trends and market conditions.

📬 Final Thoughts: Contracts Aren’t Just Formalities

Your real estate contract should reflect your goals, rights, and expectations clearly. Rushing through it or ignoring the fine print can lead to costly mistakes or delays.

That's why having a savvy, experienced agent matters.

📣 Need someone to walk you through every step of the contract with clarity and confidence?
That’s exactly what I do—and why my clients feel empowered, not overwhelmed.

🏡 Real Estate Done Differently™