Wisconsin Contract for Sale of Real Property (To Be Used for a Communication System)
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FAQ
Sales Contract (Land Contract) With certain exceptions, a real property sales contract is an instrument by which the seller (vendor) agrees to convey title to real property after the buyer (vendee) has met certain conditions specified in the contract and does not require conveyance within one year.
Dual license dual agency situation is when two agents from the same brokerage or real estate company represent a buyer and seller. It is also known as a designated agency or appointed agency.
In other words, a dual agent represents both the buyer and seller in a real estate deal. Dual agency is illegal in the following eight states: Wyoming, Alaska, Vermont, Colorado, Flroida, Maryland, Texas, and Kansas. All the other states and the District of Columbia, permit dual agency.
The land contract will be secured by the property being sold. If a buyer stops paying (i.e. defaults), the seller can pursue strict foreclosure. In a strict foreclosure, the seller takes the property back, and keeps the amounts paid under the land contract.
Licensees shall not obtain, negotiate or attempt to obtain or negotiate any listing contract providing for a stipulated net price to the owner with the excess over the stipulated net price to be received by the firm as commission.
Clients must be provided with skill and care, and the agent must promote the client with loyalty, fidelity, and good faith. A Disclosed Dual Agency relationship is permitted when two clients to a transaction provide written consent.
Dual agents can streamline the home sale process, helping you sell your home faster and with less hassle. However, since they represent the buyer too, your real estate agent may not be willing to negotiate a higher price with the buyer.
Under this neutral approach, the same agent may represent more than one client in a transaction. If you do not consent to a multiple representation relationship the firm will not be allowed to provide brokerage services to more than one client in the transaction.