An offer is more than a number. Price gets attention, but terms — financing type, contingencies, closing date, earnest money — often decide which offer actually wins.
The AAR purchase contract
In Arizona, the standard offer document for most resale homes is the AAR Residential Resale Real Estate Purchase Contract, produced by the Arizona Association of REALTORS®. It's a few pages of pre-printed terms with blanks for the specifics. Once both parties sign, the timelines and obligations inside it become enforceable.
The contract has built-in deadlines — for inspections, for the appraisal, for loan approval — usually counted in days from contract acceptance. Missing a deadline can mean losing rights (like the right to cancel for inspection objections) or losing earnest money.
The core terms
Price
What you're offering. In a competitive situation this isn't always your only lever — see escalation below.
Earnest money
A deposit that signals you're serious, typically 1–3% of the purchase price, held by the title/escrow company. If the deal closes, it applies to your down payment or closing costs. If you cancel for a contractually-allowed reason within the right window, you get it back. If you walk away without a contractual right, the seller may keep it.
Financing terms
The contract spells out your loan type, down payment, and any limits on interest rate or origination fees. Sellers read this carefully.
Closing date
Usually 30–45 days for financed purchases, less for cash. Sometimes sellers care more about a specific date than the price.
Contingencies
The standard ones in Arizona include:
- Inspection period — typically 10 days, during which you can investigate the property and request repairs, credits, or cancel.
- Appraisal contingency — your protection if the home appraises for less than the purchase price.
- Loan contingency — your protection if financing falls through despite good-faith effort.
- HOA review — time to review the CC&Rs, financials, and any disclosures before being bound.
What makes an offer strong (besides price)
- A pre-approval letter from a local lender of good repute.
- A reasonable closing timeline that matches what the seller has indicated they want.
- Cleaner terms — for example, slightly shorter inspection period, fewer requested concessions, or a larger earnest deposit.
- A real ability to perform — proof of funds for the down payment and reserves.
An "as-is" offer in Arizona usually still preserves your right to inspect and cancel — it just signals you're not planning to ask for repairs. Read your contract carefully; "as-is" terminology varies in practice.
Escalation clauses
In multiple-offer situations, an escalation clause is one approach: you offer X, but agree to outbid competing offers by a set increment up to a cap. Sellers and listing agents respond to these differently — some welcome them, some find them awkward. Use thoughtfully, and only with proof of any competing offer required.
Counter-offers
The seller may accept your offer, reject it outright, or counter. A counter changes one or more terms (often price, but sometimes closing date, repair limit, or possession). You can accept, reject, or counter back. Each counter resets the clock on acceptance.
What I do not recommend in Arizona
- Waiving inspections. Even on newer homes. The cost is small and the information is too valuable.
- Waiving the appraisal contingency without a real backup plan. If the home appraises low, you may have to cover the gap in cash.
- Submitting a "love letter" to the seller. They can introduce Fair Housing risk and don't actually move the needle the way buyers think.
- Price is one lever among several — strong terms often win the offer.
- Know what your contingencies are protecting you from before agreeing to waive any.
- Use escalation thoughtfully; skip the love letter.
Need help writing the offer?
When you're getting close, walk me through what you're seeing and I'll tell you straight where the leverage is.
Talk to Caleb →