Essential Buyer Forms for Gulf Coast Property Transactions

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Buyer Broker Compensation Agreement

RECAD. Real Estate Services Disclosure

Buyer Agency Agreement


Discover the key buyer forms needed for purchasing property on the Gulf Coast. Learn about essential agreements, disclosures, and compensation details to ensure a smooth transaction with your real estate agent.


Understanding the Alabama Residential Purchase Agreement: A Simple Breakdown

This guide explains the key points of an Alabama Residential Purchase Agreement in easy-to-understand terms. Learn about property purchase terms, costs, inspections, appraisal contingencies, termite reports, and insurance requirements. Whether you're a buyer or seller, this summary helps you navigate the contract, ensuring both parties understand their responsibilities leading up to closing. Ideal for first-time homebuyers or those needing a clear explanation of complex legal agreements.

1. Purchase Price & Property: The buyer agrees to buy, and the seller agrees to sell the property at the agreed price. This includes all improvements, fixtures, and anything permanently…

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Termites and the Alabama Wood Infestation Report (WIR)

Within the Alabama Residential Purchase Agreement, there is a contingency regarding termites.

In Alabama, termite and wood infestation protection is an important part of the home buying process, especially for new construction homes. According to the termite contingency in the contract, the buyer is responsible for obtaining a Wood Infestation Report (WIR) from a licensed pest control company, unless the type of loan requires the seller to pay for it. The WIR covers visible infestations and damage from termites and other wood-destroying organisms. If active infestations are found, treatment is required at the seller’s expense. If any past damage is detected, the buyer can order a structural…

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The Buyer Broker Compensation Agreement  Explained

Understanding Broker Compensation

When you work with a real estate broker, they provide various services to help you find and buy a property. The amount the broker gets paid isn’t set by law or real estate organizations. Here’s a simple breakdown of how they get paid.

Compensation for Brokerage Services

The brokerage fee may be handled through one of the following methods:

  1. Broker-to-Broker Compensation. The listing broker (the agent selling the home) may pay the broker.

    The fee may be covered by the listing broker through a broker-to-broker compensation agreement. In this scenario, the listing broker pays a portion of their professional services fee to the broker representing the…

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Simplified Explanation of the Buyer Broker Services Agreement

 

Buyer Broker Services Agreement Explained

Who is Involved:
- Buyer: The person or people buying the property.
- Broker: Meredith Amon, working with Bellator Real Estate, LLC.

Purpose:
- This agreement makes Meredith your exclusive agent to help you find and buy a property.

Duration:
- Starts when the last party signs and continues until you buy a property or until a specific end date, if mentioned.

What Meredith Will Do:
1. Honest and Fair: Meredith will act in your best interest and handle things honestly.
2. Loyal Representation: She will prioritize your needs over others involved in the transaction.
3. Careful Service: She will handle all aspects of the home-buying process…

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RECAD

Real Estate Brokerage Services Disclosure

Buyer RECAD Form

  1. Types of Agents:

    • Single Agent: Represents only one party (buyer or seller) and must be fully loyal to that party.
    • Subagent: Helps the single agent by representing the same party, also with full loyalty.
    • Limited Consensual Dual Agent: Represents both the buyer and the seller. This requires written consent from both parties and involves balancing loyalty to both.
    • Transaction Broker: Helps both parties but doesn’t represent them. Provides limited services and doesn’t act as an agent.

  2. General Obligations of All Agents:

    • Act honestly and fairly.
    • Provide reasonable care and skill.
    • Keep information confidential unless required by law or if it becomes public…

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