e-Signatures

Our job is to protect the consumer!

SAFE or UNSAFE?

Last week we had a Summit for the Distinguished Real Estate Instructors in St. Louis, Mo. In attendance were the most outstanding real estate educators across the county; from Florida to Canada, Maine to California and all states between. One of the topics discussed was judicial rulings and legal discussions concerning the legalities surrounding the use of e-signature programs. It appears that this is a much larger issue than I initially thought.

Since my mission is to educate, train and protect real estate agents while at the same time protecting the consumer’s best interest, I feel it necessary to make everyone aware that e-signatures are [Read more…]

“Caveat Emptor” Buyer Beware

Don't be afraid--Be aware

If you understand the title of this blog, chances are you are in a real estate related business. When buying real estate in Alabama the words “Caveat Emptor” is of utmost importance.  Let’s take a look at the meaning of the term and how it affects Alabama real estate buyers.

Caveat emptor (ˌkæviːɑːt ˈɛmptɔr) is Latin for “Let the buyer beware.”Generally, caveat emptor is the property law doctrine that controls the sale of real property after the date of closing. Under the doctrine of caveat emptor, the buyer could not recover from the seller for defects on the property that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to fraud.

Before statutory law, the buyer had no warranty of the quality of goods. In many jurisdictions now, the law requires that goods must be of “merchantable quality.” However, this implied warranty can be difficult to enforce and may not apply to all products. Hence, buyers are still advised to be cautious.

Not all states are Caveat Emptor states. [Read more…]