5. Settlement costs & Signing regarding Disclosures
When you acknowledge what you should promote, their agent will draft a buy Arrangement and you will send they so you’re able to the fresh seller’s agent. Just after signed by both sides, the acquisition Contract try a legally joining document.
-Buyer and you may seller guidance-Property facts-Prices and you may financial support-Accessories and you may devices integrated or excluded throughout the profit-Closure and you may hands schedules-Serious money put matter-Settlement costs and you can that is guilty of using what-Conditions to have cancellation-Contingencies instance financing, inspection, appraisal, and you can early in the day family purchases
4. Time for you to Rating Earnest

Immediately after both parties have finalized the acquisition agreement, it’s the perfect time for your requirements due to the fact customer to get off your own Earnest Currency known as a Good faith Put.
This a deposit into the acquisition of a residential property created by a buyer to display they are dedicated to completing your order.
While to find a property in Arizona, be prepared to lay out on 1% of one’s purchase price up until now, that can afterwards be used within your downpayment. On the a beneficial $eight hundred,000 home, you’ll you prefer $4,000 to generally meet this% demands.