No, depending on the loan type, a down payment may be as little as 3%. For FHA loans, the requirement is 3%; for Conventional loans, it's 3.5%; and for VA loans, it's 0% in most cases.

Obtain a pre-qualification for a lender. This way, you will know exactly what you can afford and be ready to make offers.

Yes, but it depends. A buyer may successfully sue if the seller knew about a defect and didn't disclose it, the seller actively concealed something (i.e., painted over mold, hid a creak or leaking roof), the seller made a false statement on the Seller Property Disclosure Statement, or the seller committed fraud. The best answer is to consult an attorney.

No. In Arizona, the keys are released once the deed has been recorded.

Earnest money is a good-faith deposit the buyer puts down when they submit an offer. It shows the seller that the buyer is serious and has skin in the game.

The seller is not required to install the new hot water heater unless it was added to the purchase contract via a counter offer or addendum. In real estate, everything must be in writing and be a part of the contract.

Yes, however, the property would be considered "personal property" and not real estate.

Yes, however, you must disclose to the sellers that you are making multiple offer by using a Multiple Offer/Counter Offer form.