Pre-licensing training must be completed for 60 hours before you can sit for the Alabama Real Estate Exam. To be eligible for a license, you will need to pass a final exam proctored by an instructor after you have completed the course. To obtain a license, you will need to pass a background check. It can take up to three weeks depending on how many applications you have processed.
Once you have passed the exam, you will need to wait until your license arrives in the mail. The license will take approximately a month to arrive, but you can still apply for temporary licenses. Temporary licenses can only be valid for six-months. The temporary license expires after that and you'll need to restart the process.
You must complete the pre-licensing courses and meet additional requirements to obtain an Alabama real estate license. You must be at the least 19 years of age, possess a valid high-school diploma or GED and be a resident in Alabama. In addition, your license must not be revoked or denied in the last two years. A conviction of a felony may prevent you from being eligible for a license. You might be eligible for a hearing to determine if you are licensed, depending on your particular situation.
Alabama Real Estate Commission evaluates your character. They want to see that you are not involved in criminal activity or offensive activities. AREC will do a background check to find out if you have any convictions. These records could impact your chances to pass the exam. You might need to fill out a special form for background checks depending on your criminal record.
Another requirement is to have a current license in another jurisdiction. A license from another state does not mean that you need to pass the Alabama Real Estate Exam's national portion. Alabama brokers will need to be affiliated with applicants. The broker will become a sponsor of your license upon affiliation.
Passing the Alabama and national sections of the exam is required to obtain your Alabama real estate license. There are 140 questions you will be asked during the examination. You'll have 210 minutes to complete the exam. When you finish, you'll receive your score and a diagnostic report. This report will help you brush up on areas you are weak in.
If you've been convicted of felony or moral turpitude, you will need to undergo a background check and provide a criminal history explanation. A valid photo ID is also required. Your photo ID must have your name and signature on it.
A background check must be completed before you are allowed to take the real-estate exam. The Alabama Real Estate Commission will review your fingerprints. While you wait for results from the background check you can start studying for exam. There are many online courses that will help you prepare for real estate exams.
FAQ
What is the average time it takes to sell my house?
It depends on many different factors, including the condition of your home, the number of similar homes currently listed for sale, the overall demand for homes in your area, the local housing market conditions, etc. It may take 7 days to 90 or more depending on these factors.
Should I rent or own a condo?
If you plan to stay in your condo for only a short period of time, renting might be a good option. Renting will allow you to avoid the monthly maintenance fees and other charges. The condo you buy gives you the right to use the unit. You are free to make use of the space as you wish.
What should you look for in an agent who is a mortgage lender?
A mortgage broker helps people who don't qualify for traditional mortgages. They work with a variety of lenders to find the best deal. This service is offered by some brokers at a charge. Others provide free services.
Do I need flood insurance?
Flood Insurance protects from flood-related damage. Flood insurance can protect your belongings as well as your mortgage payments. Find out more information on flood insurance.
Statistics
- This seems to be a more popular trend as the U.S. Census Bureau reports the homeownership rate was around 65% last year. (fortunebuilders.com)
- The FHA sets its desirable debt-to-income ratio at 43%. (fortunebuilders.com)
- Over the past year, mortgage rates have hovered between 3.9 and 4.5 percent—a less significant increase. (fortunebuilders.com)
- When it came to buying a home in 2015, experts predicted that mortgage rates would surpass five percent, yet interest rates remained below four percent. (fortunebuilders.com)
- It's possible to get approved for an FHA loan with a credit score as low as 580 and a down payment of 3.5% or a credit score as low as 500 and a 10% down payment.5 Specialty mortgage loans are loans that don't fit into the conventional or FHA loan categories. (investopedia.com)
External Links
How To
How to buy a mobile house
Mobile homes can be described as houses on wheels that are towed behind one or several vehicles. Mobile homes are popular since World War II. They were originally used by soldiers who lost their homes during wartime. People who want to live outside of the city are now using mobile homes. These houses are available in many sizes. Some houses can be small and others large enough for multiple families. Some are made for pets only!
There are two main types of mobile homes. The first is made in factories, where workers build them one by one. This takes place before the customer is delivered. A second option is to build your own mobile house. The first thing you need to do is decide on the size of your mobile home and whether or not it should have plumbing, electricity, or a kitchen stove. Next, make sure you have all the necessary materials to build your home. You will need permits to build your home.
There are three things to keep in mind if you're looking to buy a mobile home. Because you won't always be able to access a garage, you might consider choosing a model with more space. If you are looking to move into your home quickly, you may want to choose a model that has a greater living area. You should also inspect the trailer. You could have problems down the road if you damage any parts of the frame.
Before buying a mobile home, you should know how much you can spend. It's important to compare prices among various manufacturers and models. Also, look at the condition of the trailers themselves. While many dealers offer financing options for their customers, the interest rates charged by lenders can vary widely depending on which lender they are.
It is possible to rent a mobile house instead of buying one. Renting allows you to test drive a particular model without making a commitment. However, renting isn't cheap. Most renters pay around $300 per month.