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Seller's Real Estate Condition Report
 More Resources for Buyers and Sellers
 
 
  Chapter 709 of the Wisconsin Statutes requires that owners of residential real estate make certain disclosures prior to transfer of the property. In order to comply with that statute, Sellers will provide the buyers with a Real Estate Condition Report. It is a good idea to complete that report when you put your home on the market. Once the report is completed, you can give potential buyers a copy of the report when they tour the property. Sellers should be aware that the standard offer to purchase does not allow for an item listed as a defect in the condition report to be objected to as a defect in the inspection contingency. In other words, if the buyer has knowledge (through written disclosure) of the defect prior to making an offer, the buyer cannot object to that defect later in the transaction. Because there are a number of important issues that can arise as a result of the condition report, sellers should have an attorney review the condition report with them prior to delivering that document to any potential buyers.

To review the standard, unedited version of a Chapter 709 compliant Real Estate Condition Report, visit WhoseHome.com
 


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