Alabama Real Estate Practice Exam

A real estate sales contract must include details such as the parties involved in the transaction, a thorough description of the property being sold, the agreed upon selling price, the deposit amount, the closing date, commission details, and the signatures of all parties. Option A is incorrect because a contract should include more than just the selling price and closing date to fully protect both parties involved. Option B is incorrect because the full names of the parties involved should be included, not just the names of any witnesses. Option D is incorrect because the broker's personal guarantees are not required to be included in a real estate sales contract and can be negotiated separately. It is important to include all necessary details in a contract to ensure a smooth and legally binding transaction for all parties involved.