Alabama Real Estate Contract: Different Types and Key Terms to Include
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- Avg cost to draft a Real Estate Purchase Agreement: $860.00
- Avg cost to review a Real Estate Purchase Agreement: $600.00
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What is an Alabama Real Estate Contract?
An Alabama real estate contract is a legally binding contract entered into by a buyer and seller for the sale of real property. Real estate contracts must be in writing, and they must be signed by both parties to be legally enforceable.
Common Alabama Real Estate Contracts
There are several types of real estate contracts that are used in Alabama. The three most common include:
- Purchase agreement. The most common type of real estate contract that lays out the terms and conditions for the transfer of property between a buyer and a seller.
- Real estate assignment contract. Used as a wholesaling investment strategy and allows the buyer to assign the contract to a second buyer.
- Lease agreement. Real estate contract, sometimes called a rental contract, between a landlord and a tenant for use of the property.
4 Essential Elements of an Alabama Real Estate Contract
Four essential elements that make a real estate contract legally enforceable under Alabama property laws include:
- Property description. The address and legal description of the property.
- Price and terms. The offered price accepted by the seller and terms like required deposits.
- Closing date and costs. The date the sale will be finalized, and which party is responsible for closing costs.
- Required disclosures. Facts known by the seller that could adversely affect the value of the property. In Alabama, sellers must fill out a property disclosure statement and a lead-based paint disclosure.
Can a Seller Back Out of a Real Estate Contract in Alabama?
A seller in Alabama can only back out of a real estate contract if the buyer’s contingencies are not met or if the buyer breaches the agreement. For example, if a buyer fails to have the home inspection completed before a predetermined date or fails to secure financing, the seller may have grounds to back out of the deal.
Frequently Asked Questions
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Meet some of our Alabama Real Estate Contract Lawyers
Brian W.
As a licensed AL lawyer with over 7 years of experience in the legal field, I have spent more than 15 years working in the business and finance sector. I am deeply passionate about immigration, contracts, & my expertise spans a wide range of projects. From handling ICOs & IPOs to navigating VCs, SaaS, OnlyFans, Wholesaler & Manufacturing Agreements, Prenups, Movie Finance, M & As, Visas, Green Cards and more. I have a comprehensive understanding of various contractual needs. Whatever your contract requirements may be, feel free to reach out to me—I can craft or work on any contract with precision and expertise.
"Brian was great to work with and delivered the work requested well before the deadline. He went above and beyond to provide what I needed for my project. Thanks, Brian!"
Don K.
Oliver Keene is not your typical attorney. With a personal touch and a passion for helping others, he goes above and beyond to provide exceptional legal services. Born and raised in the heart of the Appalachian coalfields, Oliver understands the value of hard work and perseverance. His small-town upbringing instilled in him a deep sense of community and a commitment to making a difference in people's lives. Oliver's journey in the legal field began with a Bachelor's degree in Criminal Justice from Bluefield University. He went on to earn his Juris Doctorate from Lincoln Memorial University - Duncan School of Law, where he excelled in his studies and developed a strong foundation in law. Throughout his career, Oliver has gained invaluable experience working as a public defender, an attorney advisor for the Small Business Administration, and in various legal roles. With a focus on estate planning and business law, Oliver is dedicated to helping individuals and families protect their assets, plan for the future, and navigate the complexities of the legal system. His approachable demeanor, attention to detail, and genuine care for his clients set him apart. Oliver's clients can trust that he will go the extra mile to ensure their legal needs are met with the utmost professionalism and personalized service. Outside of his legal practice, Oliver enjoys spending time with his wife and daughter, exploring the great outdoors, and indulging in his passion for hunting and fishing. His commitment to serving military families is evident in his offering of discounted services as a token of gratitude for their sacrifices. When you choose Oliver Keene as your attorney, you're not just hiring a legal professional - you're gaining a trusted advisor and a compassionate advocate. With Oliver by your side, you can have confidence that your legal matters will be handled with the highest level of expertise and care.
April 2, 2024
William B.
Presently, I am a civil rights and insurance litigation attorney with a focus on representation government entities. Prior to this, I’ve represented some of the largest financial institutions in the world in litigation.
September 22, 2023
Grady C.
I have been practicing law since 2010 focusing on estate planning, probate, corporate & business, and family law matters. Prior to the practice of law, I had extensive experience as a financial advisor, business consulting, and information technology.
September 25, 2023
Jarrid C.
I’m the Managing Attorney at The Coaxum Firm LLC, a small firm located in Alabama that handles Family Law, Criminal Defense, and Personal Injury cases. My law partner is my older brother, Louis Coaxum, and we’ve been practicing together as a firm for over 8 years.
Alan V.
Bilingual attorney currently employed as a staff attorney for Legal Services of Alabama. Previous legal background includes clerkship with Judge Dorothea Batiste in the field of Domestic Relations. Legal background also includes being an associate at the prestigious firm of Shelnutt & Varner. I performed criminal defense, family, probate, and personal injury services for the firm.
November 11, 2023
LaKesha S.
I am LaKesha B. Shahid, managing partner of Shahid & Hosea LLC. We focus primarily in domestic relations. We strive to make our clients our top priority.
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Browse Lawyers NowLawyer Reviews for Alabama Real Estate Contract Projects
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"Lori was very prompt, professional and helpful. Project done to our great satisfaction."
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"William was knowledgeable and helped us review disclosures and prepare our purchase documents, but communication and turnaround times were often frustrating. There were repeated delays during a time-sensitive real estate transaction. Ultimately, the experience did not feel as organized or responsive as we needed."
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Real Estate
Real Estate Contract
Georgia
How many years does a quick claim become effective?s
Number of years for quick claim to be effect ive
Meghan T.
A quit claim deed is effective upon execution so long as the deed is dated as of the date of signature. Execution means that the deed is signed, in front of a witness and a notary. The witness and notary must also sign the deed. Finally, the deed must be recorded. This means that the deed must be submitted to the Superior Court recording office of the County in which the property sits. Please let me know if you have any questions. Thanks, Meghan K Thomas
Real Estate
Real Estate Contract
New York
Can you purchase or refinance under a land contract?
I’ve been living here for 2 years. Currently have been working with my credit union and they are having a terrible time trying to understand the legalities of my land contract first off, and secondly they just don’t seem to know what they are doing. It’s been over 8 months, 4 different loan officers and I’m once again waiting for someone else to help finish this thing out. It’s only $60,000 with a $120,000 appraisal. So, as of now I am stuck paying 2.5x monthly under this land contract than I was promised would be an easy mortgage process. So any guidance in the right direction would be very helpful. It’s a New York home. 20 yr fixed, no balloon, with a (brace yourself) 12% apr. HELP ME PLEASE! One month I’m being told to authorize a credit check for a first time homebuyer grant method of mortgaging this property. The next it’s authorizing it for a refinance. I do have earnest money deposits for over $3,000 and another $3000 paid towards principal under this land contract also.
Jane C.
I suggest you speak with a New York real estate attorney. That attorney needs to review the documents related to the transaction.
Real Estate
Real Estate Contract
Illinois
what is better to buy land or rent for construction in US?
we are a construction company from Ukraine, we are planning to build a cottage town in the USA
T. Phillip B.
I suppose it doesn't matter if you have the lease giving you permission and the lease is long enough to justify the building expense when you won't own it. But I'd buy the land so you could eventually sell the property with the building on it.
Real Estate
Real Estate Contract
Georgia
WHAT ARE YOUR FEES TO PERFORM QUIT CLAIM DEED COMPLETE BUTTS COUNTY GEORGIA 30233
SON AND EX
Meghan T.
Hi. The cost for my practice to prepare a Quit Claim Deed is $99. The Cost for me to handle the closing is $250 plus recording fees. These costs apply for any county within the state of Georgia. Let me know if you have any more questions. Meghan K Thomas
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
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Commercial real estate purchase
Location: Illinois
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Service: Contract Review
Doc Type: Real Estate Purchase Agreement
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