Updated on June 7th, 2023
The Wisconsin purchase agreement establishes the terms of sale for a real estate transaction. The contract records pertinent information regarding the seller, buyer, purchase price, and closing date. The binding arrangement accounts for a customary consideration of earnest money as a promissory commitment to the accord.
Lead-Based Paint Disclosure (42 U.S. Code § 4852d) – For real estate buildings produced in 1978 or prior, additional disclosure is mandated to acknowledge the severe dangers posed by lead-based paint.
Real Estate Condition Report (§ 35-18-709) – The state of Wisconsin states that a seller must inform the potential buyer of any physical issues that they are aware of concerning the property that could decrease the real estate value. The condition report is to be provided for the buyer within ten days of sales offer acceptance and signed by both parties for valid conveyance.
Condominium Addendum to Real Estate Condition Report – Condos require further documentation of the current condition of the space that also communicates additional information on common areas of the building and auxiliary fees.
Wisconsin Department of Regulation and Licensing – Wisconsin Residential Offer to Purchase (WB-11)
Wisconsin Department of Regulation and Licensing – Residential Condominium Offer to Purchase (WB-14)