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Buyer Beware!
Alabama is one of a handful of states that still operates under "caveat emptor" which means buyer beware An article was posted today on al.com by Sean Riley, Home Buyers In State Have Little Protection, that addresses this policy here in Alabama. The article noted Jeff Newman, from the Mobile Area Association of Realtors, as saying that "...in his experience, 90 percent of disputes are the result of miscommunication." and "There's no intent to do wrong..." One of the most ironic points of the article was that, since Alabama was still a Buyer Beware state, "...real estate professionals may find themselves at greater risk of getting sued because Alabama does not require sellers to disclose all known property conditions." Also, according to the article, "In a study published in 2003, Zumpano and a co-author found that more than three-quarters of lawsuits in Alabama against real estate salespeople were in some way related to the condition of property being sold. The study also found that the rate of lawsuits was higher in Alabama than in three other Southern states that had disclosure laws on the books." So, what does all of this mean to the consumer, or should I say, YOU the buyer and seller. First, let me say that you do have options. Get a home inspection! This is great advice for both buyers and sellers.
Sellers, you can get a home inspection done before you place your home on the market and address what needs to be fixed. As a seller, your agent can share this with prospective buyers to show what was found and what was fixed. Also, homeowner, keep your records and paperwork for anything you had done on the house like replacing an air conditioner or replacing the roof, for example.
These are just a few of ideas you can do to protect yourself and probably the biggest financial investment of your life. Hopefully, once the transaction is over and you are settled in your experience and home will leave you feeling more like this! (and not like the lady up there!)
Here's a little video about the home inspection process. Please note that you will need to communicate with your inspector to see which of these areas he does or does not address. Since every region of the country is different there will also be differences in the inspection process.
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Author
Birmingham Alabama Real Estate, Stephen Wolfe LivingInGreaterBirmingham Team of Powell Properties Birmingham, AL Cell Phone: (205) 965-5020 More information... Contact Birmingham Alabama Real Estate, Stephen Wolfe |
Those ominous words, but what do they mean? Here in Alabama, buyer beware means just that.... buyer beware. 
Buyers, you get a home inspection too! Even if the sellers have had a preinspection like the one noted above, we would recommend getting another one maybe even from a different inspection company. This just keeps the companies honest and you never know what could have been missed on accident during the first inspection or has broken since it was inspected. Also, you can make the contract contingent upon the home inspection. By doing this you have an escape clause in case the inspection comes back a little shady.