When using the AAR Residential Purchase Contract, all of the following are standard inclusions in the sale EXCEPT:
Correct Answer
D) Portable appliances
Portable appliances are typically NOT included in the standard AAR contract unless specifically negotiated. Option A (built-in appliances) are considered fixtures and included. Option B (window coverings) are standard inclusions in AAR contracts. Option C (ceiling fans) are considered fixtures and typically included in the sale.
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Related Topics & Key Terms
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Related Concepts
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
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At Desert Mesa Brokers in Surprise, a test-prep tutor presents an AAR contract deadline as though it were a statewide statute that applies in every Arizona transaction regardless of form. What is the best answer under current Arizona law or current Arizona form practice?
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Agent Thompson is representing a seller whose property has a solar panel lease. The buyer wants to assume the lease payments. Which AAR form should Thompson use to address this situation?