Contracts
Arizona has a state-mandated 'cooling-off period' for real estate purchase contracts:
ATrue — buyers have 3 days to cancel any real estate contract
BTrue — buyers have 5 business days to cancel
CFalse — Arizona has no state-mandated cooling-off period for real estate contracts✓ Correct
DTrue — but only for transactions over $500,000
Explanation
Arizona does NOT have a state-mandated cooling-off period for real estate purchase contracts. Once a contract is signed by both parties and all contingencies are met, it is binding unless the contract itself provides for cancellation rights.
Related Arizona Contracts Questions
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