How to Sell your Alabama real estate to a real estate broker who won’t accept your mortgage terms
A real estate agent in Alabama says you have to pay him or her $1,000 to get your home sold to you.
And if you’re wondering how you can get a mortgage with him or herself, that’s because Alabama realty commission rules are so complicated that it’s very difficult for the public to figure out how they work.
The Alabama realtor commission is a body that regulates real estate brokers, who are also known as “real estate brokers” or “mortgage brokers.”
In Alabama, a realtor broker can only accept a mortgage on a home or rental property with a homeowner’s loan.
That’s the only way a home owner can legally buy a home from a realtors, and the only reason a realestate agent can sell a home.
In fact, it’s so difficult to find out how the Alabama realtorship works, that in some cases, it was even considered illegal in Alabama to ask real estate agents to do this.
“We have rules that are written up to this point, but we don’t have any regulations that are enforceable,” Alabama attorney Matt D. Taylor told the Birmingham News.
“So if you want to sell your home, the Alabama State Office of Consumer Protection (ASOC) has an office in Birmingham, Alabama, and they’re the only law enforcement agency that has the authority to enforce that law,” Taylor said.
Alabama real estate rules state that a realty agent has to make sure that he or she can “prove” that the property is a “home owned by the home owner.”
The realtor has to tell the seller that the realtor can “reasonably believe that the sale will be fair, and that the purchaser may be entitled to receive a loan for the sale.”
If a home is sold to a mortgage broker, the real estate agency can sell the property and receive the loan if they have “reasonable grounds” to believe that:A home owner has made a payment for the home.
The home owner is not a guarantor.
The property is in good repair.
A “significant” change in the buyer’s lifestyle has occurred since the sale, including a change in living arrangements.
The buyer agrees to make a “reasonable effort” to maintain the property.
If the realtor has the ability to sell the home to a buyer, they must tell the buyer that the buyer will receive the mortgage payment if they can’t “proven” that they are a guaranty.
Taylor told the News that a home buyer could file a complaint with the Alabama Attorney General’s Office if they believe that their home was sold to an unqualified person.
Taylor said that it could be even harder to get a loan with a real broker than with a homeowner.
“If the seller has no reason to believe you’re a mortgage borrower, it really can be very difficult,” he said.
If you have questions about how Alabama realestate commissions work, check out our guide to the realty laws in Alabama.
If your home is being sold in Alabama, you can contact your local realtor office to get more information about the rules.
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