This is a Contract for the sale of real estate for use in Alabama. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
Birmingham Alabama Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
Category:
State:
Alabama
City:
Birmingham
Control #:
AL-00472
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Alabama Contract For Sale And Purchase Of Real Estate With No Broker For Residential Home Sale Agreement?
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FAQ
Which of the following is TRUE about a buyer brokerage agreement in Alabama? The answer is the agreement is terminated at expiration of the term or at fulfillment of the purpose.
To have an enforceable contract, both sides must harbor an intent to perform under the contract when they sign it. Entering into a contract with no intent to perform is deemed fraud and deceit in Alabama.
Which statement is TRUE of a listing agreement? The answer is it is an employment contract for the professional services of the broker. The listing is the broker's contract of employment by the seller.
What is true about buyer's agency agreements in Alabama? They are created by written contract only. Which of the following situations is NOT a proper situation for earnest money disbursal? Buyer withdraws a purchase offer two days after acceptance.
In Alabama, a seller can get out of a real estate contract if the buyer's contingencies are not met?these include financial, appraisal, inspection, insurance or home sale contingencies agreed to in the contract. Sellers might have additional exit opportunities with unique situations also such as an estate sale.
It's often worth it to spend money on a real estate attorney, but it is not legally required in most states. Attorneys make sure all paperwork is properly drawn up and filed with the authorities. Attorneys do title searches and can negotiate should a search uncover a problem.
Which of the following is true about subagency in Alabama? In subagency, the licensee assists in a real estate transaction, but no formal agency agreement exists. Subagency means that the agent represents all parties in a real estate transaction.
Several states have laws on the books mandating the physical presence of an attorney or other types of involvement at real estate closings, including: Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New
Types of Buying Agency Agreements These agreements must include an expiration date, a fair housing statement, a blockbusting statement, and a signature line for both the broker and the seller.
Alabama is one of the few states that requires a licensed real estate attorney to draft and prepare all legal documents involved in a real estate transaction (Ala.