Updated April 15, 2024
An Alabama commercial real estate purchase agreement binds a buyer and seller of commercially zoned property. The agreement details a transaction between the parties, most importantly describing the purchase price, contingencies, earnest money, and when the buyer is required to close on the property. If there are real estate agents involved, each party is required to pay their agent in accordance with their respective listing agreement.
Realtor Version
Birmingham Assoc. of Realtors – PDF
Disclosures
Consumer Pamphlet – Required to be given at the time of presenting an offer by a real estate agent.[1][2]
Real Estate Agents – If there are real estate agents representing any of the parties the following must be included in the agreement:[3]
(c) Each offer to purchase prepared after August 1, 1998, shall have prominently displayed the following AGENCY DISCLOSURE clause which shall be completed and initialed as indicated:
The listing company _________ is:
(Two blocks may be checked)
____ An agent of the seller.
____ An agent of the buyer.
____ An agent of both the seller and buyer and is acting as a limited consensual dual agent.
____ Assisting the _____ buyer _____ seller as a transaction broker.
The selling company _________ is:
(Two blocks may be checked)
____ An agent of the seller.
____ An agent of the buyer.
____ An agent of both the seller and buyer and is acting as a limited consensual dual agent.
____ Assisting the _____ buyer _____ seller as a transaction broker.
Residential Property
Alabama Residential Purchase Agreement
– Use to buy or sell residential property.
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