Alabama Real Estate Disclosure
RECAD Policy
Dean & Associates Inc specializes in residential home leasing and management. Our Service Area is limited to Shelby County, Alabama.
Dean & Associates Inc offers the following Brokerage Services:
1. Single Agent
A SINGLE AGENT is a licensee who represents only one party in a sale. That is, a single agent represents his or her client. The client may be the seller or the buyer. The licensee when acting as an agent must represent the best interests of the client by placing the interests of the client ahead of the interests of any other party. In a real estate transaction, when a real estate licensee is employed as an agent, the licensee is obligated to advise and advocate for the best interests of his or her client. A single agent must be loyal and faithful to the client.
2. Dual Agent
A DUAL AGENT is a licensee, who is an individual, acting as an agent for both the buyer and the seller. This may only be done with the written, informed consent of all parties. This type of agent must also be loyal and faithful to each client, except where the duties owed to the clients’ conflict with one another.
3. Transaction Facilitator
A TRANSACTION FACILITATOR assists one or more parties, who are customers, in a sale. Transaction facilitator describes a brokerage arrangement whereby the real estate licensee assists one or more parties, who are customers, in a contemplated real estate transaction, without being the agent, fiduciary, or advocate of that party to the transaction. The transaction facilitator can act as an intermediary between buyers and sellers. A licensee can serve as a transaction facilitator to a single party or to both the buyer and seller. A licensee can also represent one party as an agent and serve as a transaction facilitator for the other party in the transaction. In the absence of an agency agreement, a licensee is presumed to be acting as a transaction facilitator for any otherwise unrepresented party to whom the licensee is providing services.
Alabama law imposes the following obligations on all real estate licensees to all parties in a real estate transaction:
- To provide services honestly and in good faith;
- To exercise reasonable care and skill;
- To keep confidential any information gained in confidence, unless disclosure is required by law or duty
to a client, the information becomes public knowledge, or disclosure is authorized in writing; - To present all written offers in a timely and truthful manner when assisting a party in the negotiation of a real estate transaction; and
- To act on behalf of the licensee or his or her immediate family, or on behalf of any other individual, organization, or business entity in which the licensee has personal interest only with a timely written disclosure of this interest to all parties to the transaction.
Compensation Notice
Dean & Associates Inc compensation is not set by local, state, or federal law or by the rules of any REALTOR® Association and it is negotiable. Please be advised that you may speak with multiple companies about their services and compensation before signing a contract with a company.
Buyer’s Services
Until further notice, Buyer’s Services are suspended. The only exception to this rule will be for legacy clients.
Seller’s Services
Seller’s Services are provided with requirements including but not limited to:
- Vacant
- Survey
- Home Inspection
- Mold Inspection
- Radon Inspection
- Sewer/Septic Inspection
- Sellers Shield