Quite a few homeowners relocating to our area are originating from states where local Real Estate Laws have progressed from the traditional Buyer Beware (caveat emptor) model, to what can only be characterized as Seller Beware (caveat venditor). The state of Alabama real estate laws have made no such changeover. Alabama continues to be, quite definitely, a Buyer Beware State with regards to Real estate property transactions.
Nevertheless simply because Real Estate Law is different among states does not necessarily mean that purchasers cannot safeguard themselves, thus it really is important that local Realtors instruct their customers regarding some crucial Recommended Procedures while navigating the waters of a Decatur Al Real Estate purchase. A few items which are important in a buyer beware state like Alabama are the following:
- Impartial Home Inspection – While you or your realtor might pick-up and discuss noticeable defects as you take a look at various properties, it is definitely an essential element of an Alabama Home Purchase to make every offer contingent upon an acceptable outcome of your own independent home inspection.
- Seller Disclosure – While home sellers in Alabama aren’t lawfully expected to supply a disclosure of known latent defects, it is a recommended practice to request this type of disclosure. It is not uncommon to make a review of a seller’s disclosure a contract contingency and a good buyer’s agent will have such a form readily available.
- Covenants and Restrictions – A detailed review of the existing covenants and restrictions including Home Owner Association Bylaws should be undertaken prior to making an offer on a home and if such documentation is not readily available, a satisfactory review of this documentation should also be made a contract contingency.
If you are planning or are in the midst of relocating to the Athens / Decatur area we can help you navigate these issues and provide additional information so give us a call at 256-340-0004 or simply email us at your convenience.
