FACTS:                    

The Arizona REALTORS® Residential Resale Purchase Contract includes the Buyer Contingency Addendum, stating that the Contract is contingent on the buyer accepting an offer on their own property.  The seller and listing agent claim that the inspection period is currently underway.  The buyer disagrees because she has not yet received an offer on her property.

ISSUE:                      

Has the Buyer’s inspection period begun?

ANSWER:                

No.

DISCUSSION:         

The Buyer Contingency Addendum in the subject transaction has the box on line 46 checked.  Thus, the time frames for the Purchase Contract, including the inspection period, begin three days after an accepted offer on the buyer’s property is delivered to the seller.