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Law requires you, the consumer, to be informed about the types of services which real estate licensees may perform. The purpose of this disclosure is to give you a summary of these services. A SINGLE AGENT is a licensee who represents only one party in a sale. That is, a single agent represents his or her client. The client may be either the seller or the buyer. A single agent must be completely loyal and faithful to the client. A LIMITED CONSENSUAL DUAL AGENT is a licensee for both the buyer a.

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Unlike in many other U.S. states, Alabama law employs a rule known as caveat emptor for the sale of used residential property. Caveat emptor is Latin for let the buyer beware, which means that the seller has no actual duty to advise the buyer of issues with the property's physical condition during the sale.

The Real Estate Transfer Disclosure Statement (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.

agency disclosure. a written explanation, to be signed by a prospective buyer or seller of real estate, explaining to the client the role that the broker plays in the transaction.

In Alabama, the seller of used residential property has no actual obligation to disclose to the buyer any issues with the physical condition of the property.

Alabama law provides that a seller or seller's agent has a duty to disclose information about used real estate in three scenarios 1) Defects affecting health and safety, 2) where a fiduciary relationship exists, and 3) upon specific inquiry by the buyer.

1. AMENDMENT TO AGENCY AGREEMENTS. This Transaction Broker Addendum is part of an Exclusive or Nonexclusive. Right to Buy Agreement (agency agreement) dated.

The Real Estate Consumers Agency and Disclosure Act (RECAD) requires the Alabama Real Estate Commission to write a Real Estate Brokerage Services Disclosure form which describes the alternative types of brokerage services available to consumers in Alabama transactions.

Not all states are Caveat Emptor states. There are three states that I am certain of and they are Alabama, Arkansas, and Virginia. This article only applies to the use of caveat emptor in Alabama. For other states, you must search the statutory law with that particular state.

The purpose of the agency disclosure form is to protect the client. Upon signing, there is no contractual obligation to exclusively work with that agent, however, this document does make sure that everyone who hires a real estate agent understands the full scope of their relationship dynamic.

The underlying rationale for the passage of disclosure statutes was that a better informed public would be better able to protect itself and make more informed choices regarding broker representation.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232