In Alabama, the seller's disclosure of known material defects must occur before:
Why The buyer makes an offer, or upon receipt of an offer if not yet disclosed Is Correct
Answer B: The buyer makes an offer, or upon receipt of an offer if not yet disclosed
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
People Also Study
Related Alabama Questions
- When must an Alabama licensee provide agency disclosure to a prospective buyer?Alabama License Law
- When must an Alabama broker provide a written agency disclosure to a prospective client?Alabama License Law
- An Alabama listing agent discovers a material defect in the property. The seller instructs the agent to keep this secret. The agent should:Agency
- Under the Alabama Landlord-Tenant Act, if a landlord fails to make required repairs within a reasonable time after written notice, the tenant may:Property Management
- When must an Alabama licensee provide a consumer with the 'Understanding Agency' disclosure?Agency
- In Alabama, a real estate agent must disclose to a prospective buyer that they have a personal financial interest in a property they are selling. This disclosure must be:Agency
- Under Alabama law, an offer to purchase real estate can be withdrawn:Contracts
- In Alabama, what is the effect of a counteroffer on the original offer?Contracts
Key Terms to Know
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Study This Topic
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →