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Updated over 5 years ago on . Most recent reply

User Stats

79
Posts
19
Votes
Chris DeSisto
  • Specialist
  • SC
19
Votes |
79
Posts

When buying property for yourself in another state

Chris DeSisto
  • Specialist
  • SC
Posted

Curious if there is specific disclosure verbiage that you need to use when buying something in another state, for yourself? Do you just need to put something like this on top or bottom of the P&S agreement?

"Buyer (checkbox) Seller (Checkbox) is a licensed real estate agent contracting in their own interest." 

                                                     Or

"BUYER (checkbox) SELLER (Checkbox) IS THE PRINCIPLE IN THIS TRANSACTION AND IS A LICENSED REAL ESTATE AGENT. BUYER DOES NOT REPRESENT ANYONE IN THIS TRANSACTION BUT THEMSELVES."

Would either one be enough? Would I need to do more than this? I think either would work. I tried calling multiple agencies (NAR, local MLSs state agencies), they all just pawned me off to another department, nobody had an answer.

Thanks

Most Popular Reply

User Stats

618
Posts
520
Votes
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
520
Votes |
618
Posts
Greg Parker
  • Realtor, Contractor, Property Manager
  • Montgomery AL and Dauphin Island, AL
Replied

Alabama law just states that it must be disclosed. So I think the first one is fine.

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MGM Property Pros LLC

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