Changes to Residential Buy or Sell Agreement & Property Disclosure

Louisiana REALTORS • November 29, 2021

Updated forms and addenda to be available for REALTORS® to use in the new year

Louisiana REALTORS® and the Louisiana Real Estate Commission (LREC) worked jointly to review and make updates and changes to several forms REALTORS® use in their business. The video featuring LREC Commissioner, Rick Roberts, provides a quick overview of what changes you can see. The forms are available for download from the LREC website: https://lrec.gov/forms/mandatory-forms/.


The following detailed articles provide a good analysis of the documents and explanation of changes. LR suggests REALTORS® do a thorough review in order to understand and be knowledgeable on the differences from the 2020 forms revisions.

Legal Line: Guide to Louisiana Residential Agreement to Buy or Sell

Louisiana law requires all real estate licensees to use a mandated Louisiana Residential Agreement to Buy or Sell (“Agreement”) as the starting point for a contract to purchase residential property. The Louisiana Real Estate Commission ("LREC") mandated the first Agreement in 2009. Since this time, multiple revisions have been made to the form. The 2022 Agreement will be required to be used by all real estate licensees commencing on January 1, 2022.


LR released an overview recording (as viewed above) and in addition have produced a detailed guide and look at the redline changes along with explanation to reflect the significant additions and deletions between the 2020 version and 2022 version. We recommend a thorough review of the information provided so that you can be best prepared and knowledgeable.

View or Download the Full Article

Legal Line: Guide to Property Disclosure Document Revisions

In 2003 the Louisiana State Legislature passed a statute requiring all SELLERS of residential real property, with certain exclusions, to provide a written disclosure to potential BUYERS of “known defects” to the property being sold. The Louisiana Real Estate Commission (“LREC”) prepared a disclosure form to assist SELLERS in providing that information to BUYERS known as the Property Disclosure Document (the “PDD”). Since 2003, the PDD has been revised several times. The 2022 PDD Form is best obtained from the LREC website and will be required beginning January 1, 2022.


LR is providing REALTORS® with a detailed guide and look at the redline changes along with explanation to reflect the significant additions and deletions between the 2020 version and 2022 version. We recommend a thorough review of the information provided so that you can be best prepared and knowledgeable.

View or Download the Full Article

LR held an information session on December 1 featuring Rick Roberts on behalf of LREC and Patty McMurray with Baker Donelson. This one-hour video provides a more detailed review and discussion on changes to the mandated forms as well as responses to questions that came up during the session. NOTE: Line items noted and highlighted in the presentation will not be exactly referenced to the published forms so viewers need to watch and apply the information in the appropriate context. REALTORS® are encourage to use this page as a training resource.

DISCLAIMER: These materials are to be used for informational purposes and should not be construed as specific legal advice. These materials are not designed to cover every aspect of a legal situation for every factual circumstance that may arise regarding the subject matter included.

 

This publication is for reference purposes only and Louisiana REALTOR® members or other readers are responsible for contacting their own attorneys or other professional advisors for legal or contract advice. The comments provided herein solely represent the opinions of the author and not a guarantee of interpretation of the law or contracts by any court or by the Louisiana Real Estate Commission. 

Consumer Guide Update: Teen Financial Literacy

By Louisiana REALTORS® • October 9, 2026
Want Your Teen to Own a Home Someday? Start Talking Money Now Teens may not be thinking about mortgage rates or down payments just yet, but the money habits they’re building now can follow them for years. And 88% of teens surveyed by Fannie Mae and Junior Achievement said they want to own a home someday. This week’s Consumer Guide: Talk to Your Teens About Money and Homeownership makes those conversations a little easier, covering everything from credit scores and budgeting to debt, renting versus owning and saving for that eventual down payment. So yes, you may have to interrupt the doomscrolling. But helping teens get smarter about money today could put them in a much better position to get the keys to a home of their own down the road. Download all of NAR’s Consumer Guides in English or Spanish at facts.realtor. For ease of reference, below is a list of the most recent guides: NEW: Teen Financial Literacy Fraud Red Flags Helping Family Members Become Homeowners Prepare Your Home for Hurricane Season Condominium Insurance Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their home buying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. The next Consumer Guide, scheduled for publication on Oct. 21, will cover winter cold and storm preparedness.

Constitutional Amendment Positions for November 3 Election

By Louisiana REALTORS® • October 9, 2026
Homeownership Is on Louisiana's November Ballot

Cookbook for the REALTORS® Relief Foundation On Sale Now!

By Louisiana REALTORS® • October 8, 2026
After months of gathering recipes from across our Louisiana REALTORS® family, the cookbook is ready! This 200+ page collection is filled with Louisiana flavor, REALTOR® heart and recipes contributed by our members. We launched sales of the cookbook at the Fall Governance Meetings. You can now purchase your copy for $30 directly from the printer and shipped to you! Additionally, we will have copies available at the RRF booth at NXT . After NXT, we will carry a limited stock at the LR office for you to purchase through the LR Merch Shop and pick-up from the office or at an LR event, as stock is available. Even better, $15 from every cookbook sold will be donated to the REALTORS® Relief Foundation (RRF) to help provide housing-related assistance to REALTORS® and their families following disasters. Pick up a copy for yourself, grab one as a gift and enjoy a taste of Louisiana while supporting a great cause!
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