Legal Question in Real Estate Law in Arizona

There is no legal requirement that condo's must be purchased with cash only. The manner of payment is a matter to be agreed upon between the buyer and seller. A seller may require an all cash payment, but the normal mode of financing is for the buyer to make a cash downpayment and pay the balance of the purchase price with money received from a lender in exchange for a promise to repay the principal plus interest, and a right to foreclose on the property if the buyer fails to repay as promised.