Alabama Unsatisfied Problems Identified in Seller's Files
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How to fill out Unsatisfied Problems Identified In Seller's Files?
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FAQ
Alabama Buyers Shouldn't Rely on Seller Disclosure Alabama is one of the three caveat emptor states. Alabama law requires all buyers of used real estate to inspect or have inspected all aspects of real property prior to closing on the sale.
Seller's Disclosure Notice | TREC.
California law requires only that sellers disclose known defects, with no obligation to search them out or get expert eyes on the house, such as by getting a home inspection.
Fiduciary relationship exists between the buyer and seller As the Alabama code stated, the seller is required to disclose known defects to the buyer if a fiduciary relationship exists between the parties.
Minnesota law requires that all sellers of residential property disclose to prospective buyers all ?material facts? that could affect a buyer's use and enjoyment of the property. Minnesota law also requires that real estate salespeople disclose to buyers material information that they may know about the property.
Examples of material facts that must be disclosed include structural problems with the house, soil problems, a leaking roof, unpermitted construction, neighborhood noise problems, and anything else that a buyer would deem to be important.
All sellers must disclose all facts that are material. Whether facts are material may depend on the circumstances or intentions of each individual buyer. Basically, a fact is material if a buyer would not have entered a contract with a seller if the fact was known.
Ing to Minnesota Statutes § 513.55, the seller should disclose ?all material facts that he is aware of that could adversely and significantly affect: an ordinary buyer's use and enjoyment of the property; or, any intended use of the property of which the seller is aware?.
