Arizona Constitution Practice Test

To whom must contracts for real estate sales be presented?

1. Only buyers

2. Real estate agencies

3. Sellers and buyers

4. The court system

The correct answer is: Sellers and buyers

Contracts for real estate sales must be presented to both sellers and buyers because both parties are integral to the transaction and must agree to the terms outlined in the contract. The seller needs to understand and accept the offer made by the buyer, as it typically outlines the details of the sale, including price, contingencies, and closing timelines. Simultaneously, the buyer must have the opportunity to review and agree to the terms to ensure they are making a fully informed decision regarding their purchase. This mutual agreement is essential for the contract to be valid and enforceable. Presenting the contract solely to either buyers or sellers, or exclusively to real estate agencies or the court system, does not address the need for mutual consent among the principal parties involved in the sale. Therefore, the requirement for contracts for real estate sales to be presented to both sellers and buyers reflects the fundamental principle of contract law that necessitates agreement from all parties involved.