Are you buying or selling real estate property in Alabama? Cover yourself in the event of lost, misplaced, misstated or inaccurate closing documents with this Alabama Closing Correction Agreement.
- The buyer and the seller agree to correct or replace any closing document that contains an error or which has been lost or destroyed.
- If the original promissory note is replaced, the seller and the lender will indemnify the buyer against any loss.
- If there was an error resulting in the wrong amount of funds being transferred between the parties, the parties agree to supply or refund any amount necessary to adjust for the error.
- The agreement does not address any errors in consumer disclosure documentation given to the buyer in connection with a mortgage loan.
The Alabama Closing Correction Agreement
form is a downloadable Microsoft Word document which is fully editable.