Get WB-14 RESIDENTIAL CONDOMINIUM OFFER TO PURCHASE LICENSEE

What new feature was added to the appraisal contingency in the WB 11 residential offer to purchase? The appraisal contingency on page 6 of the updated offer includes a right-to-cure option for the seller.

CONDOMINIUM DISCLOSURES: Seller agrees to provide Buyer with complete, current and accurate copies of the condominium disclosure materials required by Wisconsin Statute §703.33. The condominium disclosure materials are required to be delivered to Buyer no later than 15 days prior to closing.

A contract for deed is an agreement for buying property without going to a mortgage lender. The buyer agrees to pay the seller monthly payments, and the deed is turned over to the buyer when all payments have been made.

In a contract for deed sale, the buyer agrees to pay the purchase price of the property in monthly installments. The buyer immediately takes possession of the property, often paying little or nothing down, while the seller retains the legal title to the property until the contract is fulfilled.

A land contract could be structured similar to a conventional mortgage with payments amortized and paid in equal installments over the term of the contract. For example, on a $200,000 loan with no down-payment at 3% interest, the buyer would pay $843.21 each month for 30 years.

What is Wisconsin Vacant Land Offer to Purchase for? Form WB-13 is a standard form of an offer to purchase, which, if accepted by a seller, leads to the conclusion of a contract. This contract differs from the usual contracts of sale of real estate only in the fact that an object of the agreement is undeveloped land.

Minnesota statute limits interest rates to 6 percent in general, and 8 percent for written contracts.

The current fee is $0.30 for each $100 of value or fraction thereof of the value of the property being transferred.