Nuts & Bolts of Real Estate Contracts
This section gives information about basic forms used in a real estate transaction. All the information is updated as needed, always ask your Broker, Coach or Transaction Coordinator for advice before moving forward with your transactions. We are here to assist you in becoming the strongest real estate professional and to keep you in compliance with the State of Alaska Real Estate Commission.
Documents 101
AREC (Alaska Real Estate Commission Consumer Disclosure)
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This consumer disclosure, as required by law, provides you with an outline of the duties as a real estate licensee. The document is not a contract.
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It is State Law that as a licensee, you must review and sign this document with any client, whether buyer or seller before continuing your real estate relationship. This document is the FIRST document you file in your transaction list. It must be fully executed with signatures and dates from all parties. If you are working with multiple clients on one transaction, all parties must be listed. If you are co-representing clients with another licensee from your Brokerage both licensees must be on the AREC.
Buyer Transaction Forms
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AREC
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Purchase and Sale Agreement (PSA)
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PSA- Addendum or Amendment to the Purchase & Sale Agreement (as many as needed)
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PSA- Counter Offer to the Purchase & Sale Agreement (as needed)
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REBA Affiliated Business Disclosure
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FHA/VA Amendatory Clause (as needed)
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Counter Offer
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Copy of Ernest Money Check
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Amendment of PSA
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Home Inspection Summary or Waiver
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Repair Addendum
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Well and Septic (as needed)
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Lead-Based Paint Disclosure (built before 1978)
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Preliminary Title Report
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Title Report Acknowledgement
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As-Built Survey (as needed)
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Resale Certificate (if HOA)
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HSA Affiliated Business Disclosure & Invoice if purchased
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Early Occupancy Agreement (as needed)
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Any additional Signed amendments
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Termination Agreement if DFT signed by BOTH BROKERS.
Listing Transaction Forms
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AREC
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Exclusive Right to Sell
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Property Disclosure or Waiver
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Bill of Sale
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Coming Soon
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Delayed Marketing Agreement
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REBA Affiliated Business Disclosure
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MLS Pended PDF
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Tax Print Out
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Purchase and Sale Agreement PSA (from buyers agent)
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FHA/VA Amendatory Clause (as needed)
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Counter Offer
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Copy of Ernest Money Check
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Amendment of PSA
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Home Inspection Summary or Waiver
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Repair Addendum
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Well and Septic (as needed)
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Lead-Based Paint Disclosure (built before 1978)
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Preliminary Title Report
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Title Report Acknowledgement
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As-Built Survey (as needed)
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Resale Certificate (if HOA)
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HSA Affiliated Business Disclosure & Invoice if purchased
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Early Occupancy Agreement (as needed)
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Any additional Signed amendments
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Termination Agreement if DFT signed by BOTH BROKERS.
Alaska MLS
In Alaska real estate forms are held within the Alaska MLS. Licensees once signed with a Brokerage gain access to Alaska MLS for a minimal monthly fee paid directly to Alaska MLS. Most are created and updated by the MLS forms committee, some are Brokerage based, like the REBA Affiliated Business Disclosure which is required by our Brokerage, and some are created by the State of Alaska, such as the AREC, Property Disclosure, etc.