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Rule 790-X-3-.13. 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.
Which disclosure is the most commonly required in a residential real estate sale quizlet?
The answer is seller's property condition disclosure. Most states require that the seller truthfully complete a seller's property condition disclosure statement.
What is the most commonly used disclosure in real estate?
Flooding issues and plumbing leaks are the most common disclosures top real estate agents say they encounter. \u201cThe biggest issue is always the plumbing leaks and the roof issues because of the recent hurricane we had last year,\u201d Fonseca said.
Which disclosure is the most commonly required in a residential real estate sale?
The State Transfer Disclosure is required for all home sales in California. The transfer disclosure statement (TDS) evaluates the condition of a property. Every residential seller must complete the TDS document. It will let the buyer know about major defects at the property.
Is sub agency legal in Alabama?
Sub-Agency - An unusual, yet legal arrangement in Alabama where an agent represents another broker's customer in the sale. A subagent does not represent the buyer and seller, just one client.
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Related forms
Nail Specialty Application - New York State Department of State
Who is responsible for licensing real estate agents in Mississippi?
A responsible broker must maintain an office and display the license therein. If the broker has more than one office, the broker shall display a branch office license in each branch office. The broker is responsible for the real estate practices of those licensees.
What is the primary purpose of agency disclosure in Mississippi?
The purpose of the Agency Disclosure is to document an acknowledgement that the consumer has been informed of various agency relationships, which are available in a real estate transaction.
Is a sellers disclosure required in NY?
Types of Disclosures New York Property Sellers Must Make The PCDA requires sellers to complete a standard form disclosure statement, a copy of which is available on the New York Department of State website.
Is Mississippi a dual agency State?
Well, dual agency is just that. Dual agency is when one real estate agent represents both the buyer and seller in a transaction....Is Dual Agency Legal in my State? AlabamaMassachusettsAlaskaMichiganArizonaMinnesotaArkansasMississippiCaliforniaMissouri8 more columns • 9 Jun 2022
What does a seller have to disclose in New York?
A New York seller is required to disclose known housing defects to the buyer in a real estate transaction. Omitting material facts about defects or knowingly making false statements to a buyer results in liability for damages if the omission or falsehood materially affects a buyer's decision to purchase the property.
Related links
Ala. Admin. Code r. 790-X-3-.13 - Agency/Brokerage Services ...
(1) The Real Estate Consumers Agency and Disclosure Act (RECAD) requires the Alabama Real Estate Commission to write a Real Estate Brokerage Services ...
The Real Estate Consumers Agency and Disclosure Act (RECAD) requires the Alabama Real Estate Commission to write a Real Estate Brokerage Services Disclosure ...
Fathom Policy And Procedures Manual - UserManual.wiki
Under common law the real estate agent is required to refrain from unfair and deceptive trade practices and not misrepresent or fail to disclose a material ...
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