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Proper notice of defects If the buyer wishes to provide a Notice of Defects to the seller, then the buyer would send a WB-41 with language along the lines of, ?This is a Notice of Defects. The following are defects to which the buyer objects,? then the buyer would insert the items the buyer deems to be defects.
The notice relating to offer to purchase form is designed for instances where a party to a real estate transaction needs to notify the other party to a change in the status of the contract that does not require the other party's consent to change.
A purchase and sale agreement, or PSA, is a document that is written up and signed after a buyer and seller mutually agree on the price and terms of a real estate transaction.
A WB 41 notice indicates in the heading that it is a notice it does not require your agreement. Consequently, the notice should relate to terms of the contract that the buyer may raise which do not require your agreement.
The Wisconsin bill of sale form - WB 25 - was designed to assist licensees with the transfer of personal property in connection with a real estate transaction.
The WB-45 Cancellation Agreement and Mutual Release is a form which permits the parties to an agreement or contract to cancel the contract and to authorize any real estate broker holding funds on behalf of the parties to disburse those monies.
The buyer may issue a notice of defects, listing the defects to which the buyer objects. It is, however, the seller's choice to elect to cure or make the offer null and void. The buyer may accompany the notice and inspection report with a Cancellation Agreement and Mutual Release (CAMR).