Property Supplement on The State of Real Estate – If a state report is required for the sale of a condo, a supplement must be added to the report to provide additional information about the property (e.g., name. Property B, reference number, fees). The Wisconsin sales contract manages documentation of the sale of real estate at a declared financial price. As part of the contract, the terms of sale and relevant information about the seller, buyer, purchase price and completion date are indicated. The binding agreement provides for a usual consideration of serious money as the debt promise of the agreement. A purchase and sale agreement in Wisconsin is used to determine the terms of sale and purchase of real estate. In the contract is a description of the residence, personal items that are included in the sale (for example. B appliances, furniture, curtains), and financial conditions such as purchase price and payment method. If the seller`s property is not mentioned in the provisions of p. 709.01 (2), they must submit to the buyer a report of the condition of the property. The report must be submitted within 10 days of accepting an offer.

If the property is a condominium (and a status report is required), the seller must also add a supplement to better describe the property. The two progress reports are available below under the words “Related Data.” State of The Real Estate Report – Wisconsin law requires sellers to submit a status report within 10 days of accepting an offer to purchase, without sellers being listed on 709.01 (2). Real Estate Report (No. 35-18-709) – The State of Wisconsin says that a seller must inform the potential buyer of any physical problems he or she is experiencing with respect to the property that could reduce the value of the real estate. The condition report must be presented to the buyer within ten days of acceptance of the offer of sale and signed by both parties for the valid transport. Lead-Based Paint Disclosure – Buyers who purchase an apartment built before 1978 must receive a disclosure informing them of the history of toxic lead paint. Property supplement to the state real estate report – condominiums need additional documentation on the current state of the space, which also provides additional information on common areas of the building and incidental costs. Lead-Based Paint Disclosure (42 U.S. Code ` 4852d) – For buildings built in 1978 or earlier, additional disclosure is responsible for detecting serious hazards arising from lead paint.

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