Seriously, when it comes to buying and selling a home, there is a tremendous amount of paperwork. Let’s discuss some of this paperwork and learn how it benefits you.
RECAD is the Real Estate Consumer Agency Diclosure. Alabama law requires that information about the types of services provided to a buyer/seller as soon as reasonably possible. This may occur at a listing appointment or buyer consultation. It can possibly occur at an open house or at a listing requested to view. In reality, anytime you have your first face-to-face meeting with a real estate agent is when this information should be given to you.
There are different types of services that a real estate agent may perform. These services are detailed on the RECAD disclosure form which the agent is required provide and explain to you. It is important that you clearly understand your rights so you can make an informed decision as to how you choose to be represented in a real estate transaction. If you don’t completely understand, be sure to ask questions.
The RECAD disclosure is not a contract. When you sign, it does not obligate you in any way. It only indicates that you have received the disclosure and it has been explained to you. Your signature is not required. In the event you decline to sign, the real estate agent will document the disclosure was explained and given to you and document the decline to sign, in order to fulfill their legal obligation. The Alabama Real Estate Commission is serious about protecting your rights.
What exactly are the services that a real estate licensee may perform? Single Agency, Sub-Agency, Limited Consensual Dual Agency and Transaction Broker. These are all ways that an Alabama real estate professional may serve you as you sell or purchase a home. Over the next few weeks we will discuss each type of agency.
Mike and Brandie Brown and the Josh Vernon team are dedicated to explaining your options so that you can make the best decision for your family. In addition, they are your go-to source to clarify the confusion of all the paperwork and make your transaction as smooth as possible.