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REAL ESTATE CONTRACTS ARTICLES

Why do Arizona Home Purchase Contracts have a Three-Day Cancellation Clause?

By Christopher Combs | September 14, 2018

The history of the three-day cancellation clause found in the current Arizona home purchase contract dates back to the development by the Arizona Association of Realtors (“AAR”) of a standard contract for home purchases more than 50 years ago.  At the time, home purchase contracts did not have cancellation notice requirements, allowing buyers and sellers to cancel the contract for any lack of performance, and to do so without notice. The concern in Arizona was that, because of summer heat and vacation schedules (and before fax machines and email), buyers and sellers might need more time to close escrow than…

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Must I Pay Commission if the Sale is Canceled?

By Christopher Combs | August 24, 2018

Question: After my husband retired we signed a listing agreement with a real estate broker to sell our Tempe home because we wanted to move to a condominium in east Mesa. Our real estate broker quickly located a buyer, and we executed a purchase contract to sell our Tempe home to that buyer. Our children have been very unhappy about us selling our Tempe home because they were all born in this home. We believe now that we acted too quickly in signing the purchase contract. We contacted our buyer, and our buyer agreed to cancel the purchase contract if we…

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For Rent

Partition Lawsuit by Sisters and Attorney’s Fees

By Christopher Combs | July 29, 2018

Question: My sister and I inherited our mother’s North Phoenix home after our mother died. My sister needs money and wants to sell the home immediately. I would like to make some improvements to the home and rent the home for rental income for both of us. My sister, however, says that she will not sign a lease to any renter of the home. If she won’t sign a lease to rent the home, can I sign the lease by myself? Can my sister require the sale of the home? If so, who pays for legal fees? Answer:  First, in…

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Solar Panels Foreclosure

Who Owns Solar Panels after Foreclosure?

By Christopher Combs | July 22, 2018

Question: Last month after a bank foreclosure our investor group purchased a home in Apache Junction. The home has solar panels on the roof. We recently received a letter from the attorney for the solar panel company that leased the solar panels to the former owner of the home. The attorney requested a time to come to the home to remove the solar panels. The attorney enclosed with the letter a UCC-1 financing statement that was recorded before the bank’s foreclosure deed to us. Who owns the solar panels now? If the solar panel company still owns the solar panels,…

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Arbitration an Option in Dispute with HOA

By Christopher Combs | July 15, 2018

Question: We bought a “fixer-upper” in Tempe six months ago. In doing the remodeling of the home, we thought we had an acceptable paint color for our home based on the criteria for paint color in the Rules and Regulations of our HOA. The HOA disagrees with us, however, and the HOA has been charging us small fines until we re-paint the home. The cost to repaint the home is less than $3,000, so getting a lawyer and going to court makes no sense. Is there a cheaper way to fight the HOA? Answer: The Arizona Department of Real Estate…

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golf ball

Developer Responsibility for Protection from Golf Balls

By Christopher Combs | July 8, 2018

Question: We purchased a home five years ago in a golf community in Mesa. We specifically purchased our home adjacent to a tee box because we did not want any damage from golf balls. The developer is now modifying the golf course and the tee box will be moved so that some balls hooked from the re-designed tee box will end up hitting our roof, windows, or even us! Does the developer have the right to move the tee box? If so can I require the developer to pay for the cost of screening or other protection for our home?…

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Can a Seller Cancel a Purchase Contract?

By Christopher Combs | June 18, 2018

Question: We made an offer on a home in Arcadia. In order to give the seller time to move to another home, there was a 90-day close of escrow. We deposited $5,000 earnest money in escrow. We are now ready to close escrow, but the seller has changed his mind and no longer wants to sell the home to us. The reason that the seller gave is that he has not found another home yet. Our real estate agent said that the real reason is that the seller wants more money for the home because a comparable home in this Arcadia…

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Can a Buyer Withdraw an Offer on a Home?

By Christopher Combs | June 14, 2018

Question: We made an offer in the evening on a home in Glendale. In our offer we said that the seller had 24 hours to accept our offer or our offer would be withdrawn. The next morning my husband found a much better home for the same price. Do we have to wait 24 hours to see if the seller of the first home will accept our offer? Answer: No. A buyer generally can withdraw an offer to purchase a home at any time prior to acceptance of the offer by the seller, even if the buyer had given the seller…

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