Proudly Serving Yavapai County
Communities of Northern and Central Arizona

Selling and Buying a Home

Purchase and Sale Agreement

home for sale

Once a Buyer decides on a property to purchase, we’ll help fill out and negotiate the Purchase and Sale Agreement. This is the legally binding contract in which Buyer and Seller outline the terms and condition of the sale, including the following:

  • Earnest Money Receipt
  • Purchase Price
  • Real Property Description
  • Personal Property to be Included or Excluded
  • Terms of Financing
  • Title & Escrow Company
  • Date for Close of Escrow
  • Property Conditions Disclosure & Warranties
  • Contingencies (including Loan Approval and Home & Termite Inspections)
  • Other Terms and Conditions
  • Lead-based paint disclosure for properties built before 1978

Selling and Buying a Home – Personalized Service Every Step of the Way

We follow up meticulously to make sure that all Contract requirements and deadlines are met in a timely manner. We are hands-on agents and believe in being proactive every step of the way. Your Garden Brook agent is an expert at resolving those unexpected problems which inevitably pop up in a real estate transaction, and we will help you in negotiating any additional terms and conditions that arise as a result of property disclosures and inspections.

Settlement Statement (HUD-1)

Also known as a “HUD-1”, the Settlement Statement is a very long, detailed and complex document that gives a detailed breakdown of all costs, credits, adjustments and payments that are allocated to each party at the time of closing, with a bottom line payout for the Seller and funds due from the Buyer. This is a very important document that you should file safely away for future use. You may need to refer to the HUD-1 in preparing your income tax returns or in other legal matters.

The professional agents at Garden Brook Realty are specialized experts who deal with complicated real estate documents on a daily basis. As part of our personalized, step-by-step service, your Garden Brook agent will request a copy of the Final Settlement Statement when it is prepared, usually just prior to closing. We review it carefully to make certain that all items have been accounted for accurately. Although this isn’t a specific requirement of a real estate agent, we feel it’s an added benefit that serves our client’s best interest. On those occasions when we catch inaccuracies or omissions beforehand, corrections can be made before the parties appear to sign documents, thus preventing delays and allowing for a smoother Escrow Closing.

At Garden Brook Realty, we believe in going the extra mile for our clients!

Typical Settlement Costs

While many of the costs of selling and buying a home can be negotiated between Seller and Buyer, below is a list of costs that each party might typically expect pay. The costs listed below are not all inclusive, but simply meant to give an idea of some of the expenses involved in Selling and Buying a home. Your Garden Brook agent will go over with you in more detail the costs involved in a real estate transaction, and we’ll help you negotiate those costs in the Purchase and Sale Agreement and throughout the escrow process.


  • Real estate commissions (Usually 6% – 3% Seller Agency/ 3% Buyer Agency)
  • Payoff all existing loans, liens and encumbrances, including all costs and fees
  • Termite repairs, as negotiated
  • Property taxes, current and delinquent, including any penalties, interest or fees
  • Escrow fee (50% – Split with Buyer)
  • Owner’s Policy of Title Insurance
  • Homeowners Association inspection fee
  • Any FHA or VA loan fees required by Lender for Seller to pay, if applicable
  • Recording charges (50% – Split with Buyer)
  • Overnight delivery or wire fees


  • Inspection Fees (Home Inspection and other inspections as ordered)
  • Escrow fees (50% – Split with Seller)
  • Recording charges (50% – Split with Seller)
  • Lenders Policy of Title Insurance
  • Endorsement fees for Title Insurance
  • Appraisal
  • All new loan charges (except those required by FHA or VA Lender for Seller to pay)
  • Fire insurance premium for first year
  • Advance interest, impounds for property taxes & fire insurance, as required by lender
  • Advance dues or assessments required by Homeowner Association
  • Reimbursement for any prorated prepaid property taxes or HOA dues and assessments
  • Courier fees

Some Typical Negotiated Costs

Some other typical costs generally negotiated between Buyer and Seller are Termite Inspection, Home Warranty and Homeowner Association transfer fees.