Contracts

Under Arizona law, for a real estate contract to be enforceable, it must:

ABe witnessed by two parties

BBe in writing and signed by all parties✓ Correct

CBe notarized

DBe recorded with the county recorder

Explanation

Under the Statute of Frauds, real estate contracts in Arizona must be in writing and signed by the parties to be legally enforceable.

A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.

A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.

A condition in a purchase contract that must be satisfied before the sale can proceed to closing.

A contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.

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