GCAAR MEMBERS ONLY – Download all the contracts, disclosures, and forms you will need for a real estate transaction in Montgomery County, MD. Elements of a FBSO Contract: 1.Name the parties in the contract. An Alabama residential purchase agreement allows a buyer and seller to enter into a legally binding contract for the sale of real property. The property and improvements which the Seller is agreeing to sell and which the Purchaser is agreeing to purchase is known as. Alabama requires those selling FSBO to fill out and file many documents and forms. Several of these documents are legally binding agreements. An Alabama purchase agreement allows a buyer to submit an offer to a seller. In a FSBO sale, you prepare your home, market it as best you can, and directly work with buyers (and potentially their real estate agents).