An Alabama purchase and sale agreement is a contract between a buyer and seller for the transfer of a property in exchange for a specific amount. Once the contract is signed, the buyer is required to pay an earnest money deposit, which is non-refundable if their contingencies are met.
The purchase and sale agreement becomes legally binding when both parties sign the contract and the buyer gets the notice that the seller has accepted the deal. The buyer can get the notice in-person, by phone, and/or email.
The “buyer beware” or “caveat emptor” is when the buyer makes the purchase “as is” and the seller does not guarantee the property.
Source: § 6-9-142
The seller has to disclose the facts if and when the buyer asks a question. This is called “Known Defects.”
The agreement becomes legally binding once the Landlord and Tenant have signed the form.
The Landlord must notify the Tenant in writing to vacate the property after seven days of no rent payments in a rental without a lease (tenancy-at-will).
A guest becomes a Tenant when staying on the rental property for an extended period of time.
The right to rental a dwelling that is habitable, privacy, non-discrimination, and the right of security deposit returns.