Wisconsin Time Share Contract (Resale by Non-Developer) is a legal document between an owner and buyer of a timeshare unit in Wisconsin. This contract includes all the rights and obligations of both parties and the details of the timeshare unit. It also includes information about the maintenance, taxes and assessments, transfer fees, and other related fees. This contract is typically used when a timeshare unit is being sold by an individual owner rather than a developer. There are two types of Wisconsin Time Share Contract (Resale by Non-Developer): (1) Standard Form Contract and (2) Negotiated Contract. The Standard Form Contract is a pre-printed form that is provided by the Wisconsin Real Estate Commission. The Negotiated Contract is a custom contract that is negotiated between the parties involved.
Wisconsin ?Time Share Contract (Resale by Non-Developer)
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FAQ
Yes. A licensee in this situation may be the ?agent? for the entity. Therefore, the licensee would be acting as an agent of the licensee's firm and the entity in which the licensee has an interest.
Buyer representation agreements include several common elements, including a general description of the property the buyer seeks (price, location, size, etc.), the method and timing of the broker's compensation, and the parties' obligations.
Generally when selling a home, Wisconsin homeowners are required under Wis. Stat. § 709.02. to provide buyers with a Real Estate Condition Report (?Report?).
The State of Wisconsin does not legally require sellers to have a lawyer for their FSBO real estate transaction.
In Wisconsin, timeshare law §707.47 states that a purchaser has the right to cancel a timeshare contract within five business days of either signing the contract or receiving all pertinent documents required by the state of Wisconsin, whichever is later.
Consideration is anything of legal value that is offered in exchange by one party for something of value from another party. Common forms of consideration include money, property in exchange, or a promise to perform. Without consideration, a contract is not legally enforceable.
The Wisconsin Department of Safety and Public Services website is where the state's licensees can find Wisconsin's approved real estate forms.