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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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