Arizona Purchase Contract Guide for Scottsdale Buyers

Buying in Scottsdale should feel exciting, not intimidating. If you are eyeing a home and keep hearing about the “AAR contract,” you are not alone. The Arizona Residential Resale Real Estate Purchase Contract sets the rules for your purchase, including timelines, contingencies, and what happens if something goes off track. In this guide, you will learn what the contract covers, which deadlines matter most, and how a typical Scottsdale escrow flows from offer to closing. Let’s dive in.

What the contract covers

The Arizona Association of REALTORS Residential Resale Purchase Contract is a standardized form with fill-in blanks and optional addenda. It identifies the parties and property, spells out price and how you will pay, and sets the closing date and possession terms. It also covers prorations and costs, which fixtures stay, required seller disclosures, inspections, title review, default remedies, and how acceptance is communicated.

Many items are negotiable. The blanks for earnest money, inspection length, loan and appraisal timelines, closing date, and which items stay or go are where you and the seller agree on terms. Your signed contract controls the exact numbers, so read every filled-in blank and confirm you can meet each date.

Key blanks you control

• Earnest money amount and due date.
• Inspection period length and deadline.
• Loan application and loan approval deadlines.
• Appraisal and title review timing tied to your financing and title delivery.
• Closing date and possession timing.
• Included fixtures and any personal property.
• Named escrow and title company.

Price, earnest money, and financing

Earnest money basics

Your earnest money shows good faith. The contract states the dollar amount and where it is deposited. In Scottsdale practice, buyers often deliver earnest money within 1 to 5 business days after acceptance. Confirm with the escrow officer that the deposit was received and follow the contract’s delivery instructions exactly.

If you cancel within a valid contingency and meet the notice rules, your earnest money is typically refunded as the contract provides. If you miss a deadline or default, the seller may claim the deposit. Escrow holds funds until there is mutual agreement or a final determination under the contract.

Financing terms and timelines

If you are financing, the contract will set deadlines to submit your loan application and obtain loan approval. Buyers commonly have about 21 to 30 days to secure a loan commitment. Work closely with your lender, provide documents promptly, and keep your agent informed. If your loan is denied, the contract outlines how and when to give written notice to preserve your earnest money protections.

Inspection period basics

The inspection period is your due diligence window. It allows you to inspect the home and either accept the property, request repairs or credits, or cancel under the inspection contingency per the contract.

• Typical length in Scottsdale offers is 5 to 10 days. In hot markets it can be shorter, and for complex properties it can be longer.
• Order inspections immediately after acceptance. Common inspections include general home, termite, roof, HVAC, pool, and, if applicable, septic or well.
• Deliver your inspection notice in writing before the deadline. If you miss it, you can lose the right to cancel under this contingency.

Sellers provide a Seller’s Property Disclosure Statement and other required disclosures. If the home was built before 1978, a federal lead-based paint disclosure applies and you may elect a 10-day inspection for lead hazards.

Appraisal, title, and HOA reviews

Appraisal safeguard

If you have a loan, your lender will order an appraisal after you apply. If the appraisal is lower than the purchase price, the contract explains your options. You may ask the seller to reduce the price, bring additional cash, or cancel if the contract allows and the seller does not adjust. Appraisals typically occur within 1 to 2 weeks after loan application and within the financing timeline.

Title review steps

The title company issues a preliminary title commitment during escrow. You have a defined period, often a short window after receipt, to review and object to title defects such as unresolved liens or problematic easements. The seller then has an opportunity to cure within the contract’s cure period. Title insurance protects your ownership, so read the commitment and ask questions early.

HOA document review

Many Scottsdale homes are in homeowners associations. Use the HOA Addendum to request CC&Rs, bylaws, budgets, rules, and financials. You typically have 5 to 14 days after receiving those documents to cancel if you disapprove under the addendum. Review rental rules, architectural guidelines, and any planned assessments before your window to object expires.

Scottsdale closing timeline

Every deal is unique, but this is a common flow for Scottsdale:

• Day 0: Offer is accepted. All deadlines start from the date of acceptance.
• Days 0–3: Deliver earnest money to the named escrow company and confirm receipt. Submit your loan application if financed.
• Days 1–10: Complete inspections within your inspection period and deliver any inspection notice.
• Days 7–21: Lender orders appraisal and underwriting moves forward. Respond quickly to lender document requests.
• Days 10–30: Title commitment is issued. Review and raise any title objections within the contract timeline.
• Days 21–45: Loan approval is issued and conditions are cleared. All-cash deals can close faster.
• Closing day: Complete your final walkthrough, wire funds using verified instructions, the deed records with Maricopa County, and possession transfers per the contract.

Financed escrows in Scottsdale commonly run 30 to 45 days. All-cash purchases can close in 7 to 21 days, depending on readiness of title and inspections.

Maricopa County logistics

Escrow and title companies

Arizona closings are usually handled by escrow and title companies. Your contract names the company. The title officer issues the title commitment, oversees funds, prepares the settlement statement, and records the deed. Confirm who pays which title and escrow fees, since many costs are negotiable.

Recording fees and taxes

Arizona does not have a statewide real estate transfer tax. Closing costs include county recording fees, which are typical in Maricopa County. Property taxes are prorated at closing according to the contract. Verify the current year tax status and how prorations will be handled on your settlement statement.

Utilities and special systems

Most Scottsdale homes connect to municipal water and sewer. Outlying areas may use private wells or septic systems. If so, order specialty inspections early in your inspection period to confirm condition and compliance.

Avoid common pitfalls

Deadlines and written notices

The AAR contract is deadline driven. If you miss the inspection or financing notice deadlines, you can lose important rights, including the right to cancel with a return of earnest money. All notices must be in writing and delivered as the contract allows. Track each cutoff date the day your offer is accepted.

Wire fraud safety

Wire fraud is a real risk in real estate. Before you wire any funds, call your escrow officer using a trusted phone number, not numbers from an email, to verify instructions. Confirm the details with your agent and lender. Never accept last-minute changes to wiring instructions without direct confirmation.

Your professional team

• Real estate agent: Explains the contract blanks, negotiates timelines and terms, and helps you deliver notices on time.
• Lender: Sets realistic approval timelines, orders appraisal, and communicates loan conditions.
• Inspectors: Provide reports you can use for repair requests or credits.
• Title and escrow: Confirms receipt of earnest money, issues the title commitment, and handles recording and disbursement.
• Attorney or HOA specialist: Optional for complex issues, HOA questions, or disputed contract language.
• Tax adviser: Helpful for property tax, investment, or second-home questions.

Start your Scottsdale plan

With clear timelines, strong due diligence, and tight communication, you can move from offer to keys with confidence. If you want a calm, high-touch path through the AAR contract and Scottsdale escrow, reach out for a private consultation. Connect with Unknown Company to map your offer strategy and closing plan.

FAQs

What is the Arizona AAR purchase contract for resale homes?

• It is a standardized Arizona Association of REALTORS form that covers price, timelines, disclosures, inspections, title, closing, and remedies for resale residential transactions.

How long is the inspection period in Scottsdale?

• Offers commonly include a 5 to 10 day inspection period, though it can be shorter in competitive situations or longer for complex properties.

When is earnest money due and what happens to it?

• Earnest money is typically due within 1 to 5 business days after acceptance, per the contract. If you cancel within a valid contingency and follow notice rules, it is usually refunded under the contract terms.

What if the appraisal is lower than the price?

• The contract explains your options. You may negotiate a price adjustment, bring additional cash, or cancel if permitted and the seller does not adjust.

How long does a financed Scottsdale purchase take to close?

• Financed transactions commonly close in 30 to 45 days. All-cash purchases can close in 7 to 21 days if title and inspections are ready.

Do Scottsdale homes usually involve HOAs?

• Many Scottsdale properties are in HOAs. You can use the HOA Addendum to obtain documents and you typically have a short window, often 5 to 14 days after receipt, to cancel if you disapprove.

Who handles closing in Maricopa County?

• Escrow and title companies handle most Arizona closings. They hold funds, issue the title commitment, and record the deed with the county.

Are there real estate transfer taxes in Arizona?

• Arizona does not have a statewide real estate transfer tax. Expect county recording fees and typical title and escrow charges as negotiated in the contract.