Seller's Disclosure of Financing Terms for Residential Property in connection with Contract or Agreement for Deed a/k/a Land Contract - Alabama 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering the property address where indicated. This is essential for identifying the specific property involved in the transaction.
3. Next, fill in the purchase price of the property. This figure should reflect the agreed-upon amount between the seller and purchaser.
4. Indicate the interest rate charged under the contract. If this rate is variable, provide an estimate of what it may be over time.
5. Calculate and enter the total dollar amount of interest that will be charged throughout the term of the contract, or an estimate if applicable.
6. Fill in the total amount of principal and interest that will be paid under the contract. This gives a clear picture of financial obligations.
7. Specify any late charges that may apply under the contract, ensuring transparency regarding potential fees.
8. Finally, confirm that no prepayment penalty will be charged if the purchaser decides to pay off the contract early. This is crucial for buyer flexibility.
9. Complete all signature fields with printed names and dates to finalize your document. Ensure both seller and purchaser sign where required.

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