About This Chapter
Alabama Real Estate Law & Statutory Requirements - Chapter Summary
In this chapter, you can review the legal and statutory requirements that the state of Alabama places on the real estate industry. For example, you'll study the regulations for brokers, office audits, and closing statements. By the end of this chapter, you will be able to:
- Explain broker responsibilities in Alabama real estate
- Enumerate a checklist for real estate office audits in Alabama
- Describe the Real Estate Consumer Agency Disclosure (RECAD)
- Understand estimated closing statement requirements
- Detail brokerage trust account requirements
- Define the Alabama Fair Housing Act, including its requirements
This chapter is written by our professional instructors in clear, concise language so you can quickly and easily review the important material it contains. Because all of our courses are self-paced, you can spend as much or as little time as you need on each lesson. Your Dashboard helps you track your progress as you finish each section.
1. Broker Responsibilities in Alabama Real Estate
Are you considering being a real estate broker? If so, learn what brokers are responsible for in Alabama and how to be fulfill your obligations to agents, clients, and other brokers.
2. Alabama Regulations for Qualifying Real Estate Brokers
In Alabama, there are several guidelines for qualifying brokers. Learn about many of the regulations qualifying brokers, temporary qualifying brokers, and associate brokers must follow.
3. Alabama Real Estate: Office Audits & Checklist
Office audits are a possibility for all real estate brokerages, whether randomly selected or in response to a complaint against the broker or agent. Learn how to prepare for the audit and what information will be reviewed.
4. Alabama Real Estate Consumer Agency Disclosure (RECAD)
Establishing a relationship with a client includes setting up reasonable expectations and identifying the appropriate type of representation you will offer the buyer or seller. Learn how to navigate these steps.
5. Estimated Closing Statement Requirements in Alabama Real Estate
When you are helping a buyer or seller with a home closing, there are documents that must be completed for a home closing. Learn what is required and how to complete a closing.
6. Brokerage Trust Account Requirements in Alabama Real Estate
Holding earnest money deposits is a serious obligation of a real estate broker and must be handled accounting to Alabama's regulations. Learn what brokers are responsible for and how funds must be handled.
7. Alabama Fair Housing Act: Definition & Requirements
Your clients are protected by the Fair Housing Act that ensures they are not discriminated against if they are part of a protected class. Learn about the classes and how the requirements work in Alabama.
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Other chapters within the Alabama Real Estate Broker Pre-License Exam: Study Guide & Practice course
- Alabama Real Estate Licensure
- Alabama Real Estate Violations & Disciplinary Actions
- Understanding Agency Relationships & Agreements in Real Estate
- Ethical Conduct & Professional Duties in Real Estate
- Fundamentals of Business Planning
- Human Resource Management for Real Estate
- Real Estate Licensee Training & Supervision
- Real Estate Sales Contracts for Buyers & Sellers
- Property Disclosures in Real Estate
- Closing & Settlement Real Estate Transactions
- Overview of Real Estate Negotiation
- Fundamentals of Real Estate Financing
- Risk Management for Real Estate
- Advertising Laws in Real Estate
- Valuation of Real Property
- Overview of Property Management
- Commercial Real Estate
- New Construction Real Estate
- Alabama Real Estate Broker Pre-License Exam Flashcards