Consumer/Real Estate Licensee Contract Forms
RF 1.1 Exclusive Right to Sell Property Listing Agreement
To be used when a seller or sellers want only one real estate company to list the property of the seller(s). The agreement creates a fiduciary or agency relationship between the company and the seller(s). In general, this agreement contains what the seller wants the real estate company to do, what the company agrees to do, and what the seller agrees to pay in return.
RF 1.2 Buyer Agency Agreement
To be used when a buyer or buyers want a real estate agent to assist the buyer(s) find a home to purchase. The agreement creates a fiduciary or agency relationship between the agent and the buyer(s). In general, this agreement contains what the buyer(s) want the agent to do, what the agent agrees to do, and what the buyer agrees to do in return.
RF 1.3 Transaction Brokerage Agreement
To be used when a buyer or buyers, seller or sellers want to hire a real estate agent to assist them in buying or selling a home but in a limited way. An agency or fiduciary relationship is not created. In general, this agreement contains what the seller(s) and/or buyer(s) want the agent to do, what the agent agrees to do, and what the seller/buyer agrees to pay in return.
RF 1.4 Limited Consensual Dual Agency
- To be used when two agents who work for the same real estate company separately represent the buyer and the seller. NOTE: This form should never be used for one agent to represent both the buyer and the seller, due to the inherently high conflict of interest resulting from and risk associated with that representation.
RF 1.5 Property Management Agreement
- Used when an owner of a residence wishes a real estate licensee to manage the leasing of the residence. This can be limited or include a wide variety of tasks from finding renters to representing the owner for everything related to the property. This is not a power of attorney, allowing the licensee to sign on the owner’s behalf.
RF 1.6 Referral Agreement (NEW)
- To be used when a real estate licensee refers to another real estate licensee a consumer looking to sell, purchase or rent real estate in the state of Alabama.
Residential Purchase Forms
RF 2.1 Residential Purchase Agreement (Revised 1/1/2023)
- Used when a buyer wishes to make an offer to purchase a home. Contains most of the provisions a buyer and seller will need but addendums like a personal property conveyance agreement or FHA/VA Addendum may be needed for some transactions.
RF 2.2 Counter-offer to Residential Purchase Agreement (Revised 1/1/2023)
- To be used when a buyer or seller wishes to make a counter-offer or offer different terms to purchase a residence. The form should be used in conjunction with a purchase agreement. NOTE: All parties must sign the document for it to be legally binding.
RF 2.3 Optional Withdrawal of Offer
- Used to withdraw an offer or counter-offer before it is accepted, legally terminating the offer and preventing an agreement from forming.
RF 2.4 Release and Cancellation of Residential Purchase Agreement
- To be used when the buyer and seller mutually agree to terminate a legally binding purchase agreement previously signed by the parties.
RF 2.5 FHA/VA Addendum to Purchase Agreement
- These are government-required provisions to be added when buyer makes a home purchase using an FHA or VA loan. Provisions include what services or fees cannot be charged to buyer, what happens if purchase price exceeds appraised value, and a certification made by the listing and selling agents.
RF 2.6 Purchase Price Escalation Addendum
- To be used in conjunction with a Residential Purchase Agreement at buyer’s request. The form allows buyer to establish tiered purchase price increases up to a maximum amount if a third-party, unrelated to seller, makes a higher offer than buyer on the property. NOTE: This form does not bind the seller to accept buyer’s offer, even if higher.
RF 2.7 Inspection Addendum for Residential Purchase Agreement
- Used when a purchase agreement does not contain an inspection contingency, but the parties want one included.
RF 2.8 Personal Property Conveyance Agreement
- Used when the seller is transferring personal property to the buyer as part of a real estate transaction and the number of items do not fit on the purchase agreement.
RF 2.9 Post-Closing Occupancy Agreement
- Used when a seller and buyer agree that the seller can remain in the purchased home after closing. The form acts similar to a lease agreement between the seller and buyer but does not create a landlord/tenant relationship.
RF 2.10 Pre-Closing Occupancy Agreement
- Used when a buyer and seller agree that a buyer can move into the property to be purchased prior to closing. The form acts similar to a lease agreement between the seller and buyer but does not create a landlord/tenant relationship.
RF 2.11 Personal Interest Disclosure
- To be used when a REALTOR® is involved in a transaction and has an ownership interest in the property. The form satisfies required disclosure by Alabama license law.
RF 2.12 Repair/Replace Agreement
- To be used when paragraph 9A, “With Inspection,” in the Alabama REALTORS® Purchase Agreement is checked. The agreement allows the sellers and buyers to agree or not agree on repairs or replacements resulting from the inspection, consistent with the language in the purchase agreement.
RF 2.13 Addendum to Purchase Agreement
- To be used for small changes or additions to the Purchase Agreement, like an extension to the closing date.
RF 2.14 Back-Up Offer Agreement Exhibit
- To be used when a seller signs a secondary or back-up purchase agreement to sell a property.
RF 2.15 Lot-Land Purchase Agreement (Revised 1/1/2023)
- To be used to sell or buy a property that is a vacant lot or land.
RF 2.16 Buyer's Estimated Closing Statements (NEW)
- To be used by a licensee who procures a written offer from a buyer in a single-family residential transaction to give the buyer an approximate amount of costs the buyer is expected to have at closing, as required by Alabama license law. Called estimated closing statements in the law, the informal name is net sheet.
RF 2.17 Seller's Estimated Closing Statements (NEW)
- To be used by a licensee who presents a written offer to a seller in a single-family residential transaction to give the seller an approximate amount of costs the seller is expected to have at closing. Called estimated closing statements in the law, the informal name is net sheet.
Lease Forms
RF 3.1 Residential Lease Agreement (Revised 1/1/2023)
- Used to rent or lease a residence to a person or persons. Contains provisions related to amount of rent, what is and is not allowed, common spaces if any, who pays what, security deposit required, the start and end date of the lease, and termination, to name a few.
RF 3.2 Animal Agreement Exhibit
- Used with the Residential Lease Agreement when the landlord approves an animal to live in the rental unit. Includes a draft reasonable accommodation letter for tenants or prospective tenants.
Seller's Forms
RF 4.1 Multiple Offers Notification and Disclosure
- Used by the seller to notify potential buyer(s) when multiple offers have been received but no agreement has been signed. Addendum explains seller’s procedures for moving forward. NOTE: This is not an escalation clause.
RF 4.2 First Right of Refusal Notification
- To be used by a seller when a person has a first right of refusal on the seller’s property. The form notifies the person with the first right of refusal of another offer on the seller’s property and gives the person to ability to either waive the right of refusal or purchase the property.
Buyer's Forms
RF 5.1 Buyer Inspection Disclosure and Waiver
- Used to document buyer’s agent’s recommendations to buyer to obtain inspections and to document what inspections buyer wants or does not want, releasing buyer’s real estate agent of liability.
RF 5.2 Buyer’s Acknowledgment Statement
- Used by a buyer’s agent to explain different real estate terms to the buyer(s) and to have buyer(s) acknowledge that these terms were explained to the buyer(s).
RF 5.3 Buyer’s Term Waiver Acknowledgment
- To be used to protect agents when buyers want to waive or add certain language in an offer on residential real estate (e.g., waiving inspection, adding escalation clause). By signing the document, buyer(s) acknowledge that the addition or deletion of the language may increase the risk of future loss or harm, holding the buyer’s agent harmless for the decision and potential resulting issues.
Miscellaneous Licensee Form
MI 1.1 Notice of Exemption from Municipal Business License Tax
- To be used when a municipality or a third-party company on behalf of a municipality incorrectly seeks a business license fee or tax from a real estate company that does not have an office in that municipality.
Non-AAR Forms
HUD Home Inspection Form
- This is a HUD form to be signed by homebuyer, certifying that buyer understands the advantage of obtaining a home inspector but must obtain an inspection on his or her own.
RECAD Form
- To be used by a real estate licensee to explain to a consumer, whether buyer or seller or both, the types of agency relationships and associated services between a consumer and a real estate licensee. This form belongs to the Alabama Real Estate Commission (AREC), and satisfies the disclosure requirements set out in the Real Estate Consumers and Agency and Disclosure Act (RECAD).
Lead-Based Paint Disclosure Form for Lessors (NEW)
- This is the EPA’s sample lead-based paint disclosure form satisfying the federal requirement for housing providers to give a tenant when the unit or home being rented is built before 1978.
Lead-Based Paint Disclosure Form for Sellers (NEW)
- This is the EPA’s sample lead-based paint disclosure form satisfying the federal requirement for seller’s to give a buyer when the home being purchased is built before 1978.