Understanding Real Estate Contracts and What You Can Expect to Find

Understanding Real Estate Contracts and What You Can Expect to FindThere 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.

Click Here to See What Your Home is Worth

3627 E Bethany Home Road Paradise Valley, AZ 85253

$75,000,000
13 Beds
16 Baths
12,261 SqFt
Status Active
MLS # 6525456
Property Type Single Family - Detached
Price Type --
Arizona's leading custom home builder, Cullum Homes, is proud to partner with WOW Luxury Properties and present Arizona's most expensive home to ever be built. Introducing the $75 million Palo Cristi Estate Luxury Properties purchased the land last April and immediately partnered with Cullum Homes with the direction to define a next level of luxury in Paradise Valley. The mandate has been to spare no expense in creating a home that is both functional and captures a WOW from every room. Shortly thereafter the team selected Desert Foothills for its landscaping with the same mandate. A mandate that applies to the two adding parcels which are also for sale. SEE MORE FOR DETAILS ABOUT THE HOME ! Owner/Agent

5738 N Casa Blanca Drive Paradise Valley, AZ 85253

$40,000,000
6 Beds
13.5 Baths
23,417 SqFt
Status Active
MLS # 6551905
Property Type Single Family - Detached
Price Type --
New modern custom highest end construction build in Casa Blanca & Wilkinson corridor by Regal American Homes. Extremely private estate with stunning mountain views of Camelback, Praying Monk, & Mummy. This 6 bed, 13.5 bath, 23,417 sqft is for the most discerning buyer. Modern design includes central courtyard, open great room & chef's kitchen w/large back kitchen holding hidden bar, pantry, Costco room, & walk-in cooler & freezer. Split floorplan where primary suite includes separate his and hers: vanity, enclosed toilets, & closets, large walk-in shower, free standing tub, red light room, laundry, safe & private outdoor access. Experience true indoor/outdoor living w/custom pool & spa, golf simulator, sport/pickleball court, outdoor BBQ & fireplace, & new landscaping featuring 2 dog runs

20568 N 112th Street Scottsdale, AZ 85255

$32,000,000
7 Beds
10 Baths
17,267 SqFt
Status Active
MLS # 6413286
Property Type Single Family - Detached
Price Type --
A Dream Team Comes Together Like a Symphony to Create a Custom Estate That is a Work of Art, introducing Ellington Heights in Silverleaf''There is no art when one does something without intention.'' -- Duke Ellington.Without a doubt the King of Jazz would consider Ellington Heights--a sleek and stylish gem--a superb work of art. Nestled in the sun-kissed upper canyon of Silverleaf, an exclusive enclave in Scottsdale, Arizona, the design for this magnificent estate collected inspiration from the social, artistic and cultural dynamism of the Roaring Twenties era. Further, the design journey for this modern desert prairie-style home, included finding perfect harmony with its Sonoran surroundings.(see 'more' now)

7265 N 40th Street Paradise Valley, AZ 85253

$30,600,000
5 Beds
6 Baths
18,000 SqFt
Status Active
MLS # 6495034
Property Type Single Family - Detached
Price Type --
Amethyst is the crown jewel of Crown Canyon located at the highest point of the gated Crown Canyon community. This private 5+ acre homesite awaits an architectural masterpiece to capture the most prolific views of Camelback Mountain and downtown city lights. Premier Paradise Valley homebuilder BedBrock Developers, with award-winning in-house architect Stratton Andrews, is prepared to fully design and build your custom dream home on this impressive mountain hillside. To inspire you further, Andrews designed this 18,000-square-foot showcase estate to demonstrate the endless possibilities within the homesite. ''The breathtaking Amethyst property itself ignited the inspiration for this architectural masterpiece. The design flows with the topography, allowing 270-degree views of Camelback

21235 N 102nd Street Scottsdale, AZ 85255

$29,500,000
6 Beds
8 Baths
14,048 SqFt
Status Active
MLS # 6485821
Property Type Single Family - Detached
Price Type --
The Barn at Silverleaf - Discover the ultimate in luxury lifestyle. This awe-inspiring modern interpretation of this Prairie style estate is the result of a two year design effort by renowned architect CP Drewett and a hand selected team of consultants. World class interior design is currently being developed by Claire Ownby, founder of Ownby Design. While the vision is a sophisticated custom estate of just over 14,000 square feet, the functionality is comfortable and inviting. The unique design truly elevates the tenets of desert modernism and resort style living. Perched at the summit of a long private driveway, every area of this three-acre estate has spectacular views and are destinations within themselves. The Barn is horizontal in nature with extremely deep overhangs and a

7620 N Red Ledge Drive Paradise Valley, AZ 85253

$29,000,000
6 Beds
8.5 Baths
15,500 SqFt
Status Active
MLS # 6551951
Property Type Single Family - Detached
Price Type --
A true modern masterpiece for the most discerning buyer. This mountainside estate in the town of Paradise Valley is being designed and built in collaboration with Incline Builders and Architekshon, Inc. The nearly 11.5 acre homesite offers unparalleled views and an extremely unique level of privacy and exclusion within 20 minutes of world class resorts, dining, shopping, Paradise Valley Country Club and both Scottsdale and Phoenix Sky Harbor Airports. The modern design will include a 13,000 sq ft main house and 2500 sq ft guest house. Your dream home awaits with 14 to 20 foot ceilings, large open rooms w/ windows of glass, a gym w/ steam shower & sauna, office, movie theater, wine cellar, 2 pools and 7 car garage.

20958 N 112th Street Scottsdale, AZ 85255

$28,000,000
7 Beds
8 Baths
13,617 SqFt
Status Active
MLS # 6375239
Property Type Single Family - Detached
Price Type --
Welcome to ''The Aerie'', perched high in the McDowell Mountains in Scottdale's most exclusive community of Silverleaf sits this one of a kind masterpiece with unmatched views of the valley below. Thoughtfully designed by Erik Peterson of PHX Architecture and built with the ultimate in perfection by Paragon Custom Homes into a true work of art, this brand new desert contemporary home is an amazing estate. From the open great room which leads to the designer kitchen and hidden catering kitchen to the thoughtfully designed entertainment zone, and the palatial master wing this home has it all. Embodying a true indoor outdoor lifestyle, entertaining spaces flow to the beautiful outdoors all with amazing views of the valley below.

5247 N Invergordon Road Paradise Valley, AZ 85253

$27,999,999
7 Beds
13 Baths
13,364 SqFt
Status Active
MLS # 6447698
Property Type Single Family - Detached
Price Type --
Introducing ''The Royal Chateau'', an exquisitely remodeled estate (completed May 2022)! Boasting 7 bedrooms, 13 bathrooms with sweeping views of Camelback Mountain, this home is sure to please with only the highest level of finishes. The main residence offers nearly 10,000 sf of luxury interior living with 2 separate guest houses. This custom residence includes a custom 600 Bottle Wine Cellar, 7 Car Garages w/ AC, Chef's Kitchen w/ Dual Sinks, custom built-in Subzero Fridge & Freezer, and large walk-in pantry with appliances. Featuring a state-of-the-art home theater, home office with views of Camelback, parlor with wet bar & custom woodwork throughout the entire home. Guests may stay in either of the 2 guest casitas and enjoy the several outdoor entertaining areas throughout the property

5531 E Mockingbird Lane Paradise Valley, AZ 85253

$27,500,000
8 Beds
11 Baths
20,949 SqFt
Status Active
MLS # 6534041
Property Type Single Family - Detached
Price Type --
In most prestigious pocket of Paradise Valley with incredible views of Mummy Mountain lies this clean contemporary compound. Soaring ceilings beaming with natural light from sunrise and sunset peak windows, rift oak cabinets, white oak floors, large butler pantry, dirty kitchen & dual wine wall. In the close to completed basement addition you can watch electric go carts circle the track out of your subterranean lounge. Complete with full movie theater, spa and hair salon, concrete cased hidden gun range, sauna, massage room, space in basement for indoor sport court, 2nd story office w mezzanine, large indoor/outdoor gym, kids playroom, 20 car garage, workshop, football field yard with viewing deck, large pizza oven, outdoor Ramada & full kitchen/ grilling station, pool house, resort style

333 Schnebly Hill Road Sedona, AZ 86336

$25,000,000 - 8Br/9Ba - Home for Sale in 5 Acres Or More, Sedona
New
$25,000,000
8 Beds
9 Baths
18,762 SqFt
Status Active
MLS # 6562659
Property Type Single Family - Detached
Price Type --
Unique opportunity to own over 23 acres as part of Sedona's famous landmark with multi purpose uses which has been an iconic piece of the Sedona community. Current zoning is RS-18 and OC (Oak Creek Heritage-See city Zoning guidelines in documents). Included in eight separate parcels are 3 adjacent lots on OAK CREEK, 2 separate houses each with their own guest house. One residence built in 2007 with 4271 sq. ft. and a 900 sq. ft. guest house. Second residence built in 1997 with 2230 sq. ft. and 805 sq. ft. guest house. Sedona Creative Life Center is a nonprofit 501(c)(3) organization founded in 2000 to celebrate the human spirit and provide an uplifting and nourishing environment for celebrations, spiritually enhancing programs, and personal growth. Their mission is to become a

11269 E Moonlight Canyon -- Scottsdale, AZ 85255

$21,500,000
7 Beds
9 Baths
11,530 SqFt
Status Active
MLS # 6384286
Property Type Single Family - Detached
Price Type --
Renowned architect Bing Hu is creating a masterpiece in the Upper Canyon of the prestigious and highly acclaimed Silverleaf community. This 11,530 SF estate is a modern adaptation of the Prairie style of architecture, perfectly situated sitting on the high foothills of the McDowell Mountains with panoramic city lights, mountain and valley views. The superb quality of the finishes and the amenities included are sure to please the most discerning, certainly everything you'd expect in a home of this stature: green building materials and technologies, state of the art automation throughout, Sonos Surround Sound entertainment theater, Gaggenau ''Art of the Kitchen'' custom creation and more. Added opportunity is the GOLF MEMBERSHIP AVAILABLE with this home. Creating a masterpiece

10719 E Rimrock Drive Scottsdale, AZ 85255

$20,000,000
6 Beds
8 Baths
13,114 SqFt
Status Active
MLS # 6455254
Property Type Single Family - Detached
Price Type --
Immediate occupancy opportunity! Offering Silverleaf Golf Membership and Furnishings. Warm and welcoming, nestled on a flat pad. Home's motor court, detached guest house, front-and-rear yard, are all accessible without elevation changes. Secondary rooms, second wet bar and additional flex rooms offer views. Perched on McDowell Mountains, offering an exclusive 'front row seat experience' of sprawling and vibrant golf course, twinkling city lights, plus captivating near/far mountain views. Flawlessly crafted; meticulously maintained by valley's renowned luxury home builder, Desert Star Construction. This signature address encompasses of over 9 acres; 13,111 square feet of living space to including 1,789 SF 2 bedroom guest home. SEE MOTION VIDEO

Leave a Reply

Your email address will not be published.