Educate Yourself Before You Start Looking for Property in Prescott

Before buying property in Arizona, it is highly recommended that you educate yourself about the process and documents that you will be exposed to before you start your search.

One of the best resources for this is to review the Arizona Association of REALTORS Buyer Advisory which covers many of the facets of buying property in Arizona including the common documents a buyer should review, common physical conditions in the property a buyer should investigate, and conditions affecting the area surrounding the property the buyer should investigate.

There are many forms that the Arizona Association of REALTORS (AAR) has developed to streamline a transaction. Many of these forms are available for download here.

The first two forms you’ll be asked to sign as a buyer are the Buyer-Broker Exclusive Employment Agreement and the Real Estate Agency Disclosure & Election.  These forms clarify the roles and responsibilities of both the licensee and the client.

When you are ready to make an offer on a home you will use the Residential Resale Real Estate Purchase Contract.  For a vacant lot you will use the Vacant Land/Lot Purchase Contract. Both of these contracts are very detailed and should be reviewed before you write your first offer.

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