Your obligation to provide title insurance to the Buyer comes from a standard provision in the Offer to Purchase requiring Seller to provide evidence of title to the Buyer in the form of a title insurance policy. If you were working with a listing agent I agree that it seems reasonable to expect...Read more »
Eventually the title company will insure that the sellers have the right to sell. In the interim, you could ask if they have an order from the probate court making one of the children the personal representative of the estate.
Generally, easements indicate responsibility for maintaining the road. Arguably, tree trimming should be a part of maintaining the road an access. Check the easement language to see how maintenance responsibilities are handled.
Generally, a municipality does not have to name a lien holder of a property when seeking a judgement relating to delinquencies unless they are seeking a foreclosure based on a failure to pay real estate taxes.
The seller of my home knew of diseased trees (received a bid for multiple thousands of $$) and did not disclose them on the condition report. I'd like to read the exact real estate legislation that I'm protected by.
(1) No person, firm, corporation or association, or agent or employee thereof, with intent to sell, distribute, increase the consumption of or in any wise dispose of any real estate, merchandise, securities,...Read more »
I'm pretty sure that cases this old are not freely available online. You can access them with a subscription. Alternatively, you can visit your County Courthouse which usually maintains a library. If in Madison, you can visit the State Law Library or the University of Wisconsin Law School. In the...Read more »
I signed contract and offer was accepted for 1,000 over asking price plus 4,000 closing costs. initial closing was scheduled for june 28. Now they changed the closing to july, 20th without my approval. I paid for inspection and inspector says windows need to be replaced for the loan to go through.... Read more »
It is impossible to answer a contract question without reading the contract. That being said, generally neither party may unilaterally change the terms of the offer. In the present case, if your lender will not fund the closing without the window replacement, then the terms of the contract may...Read more »
Assuming that you have no contingencies remaining in the offer that you could exercise in good faith, then a failure to close on the part of the Buyer is a default. Assuming this is a standard WI WB-11 Offer to Purchase form, if Buyer defaults, Seller may:
I made an offer on a foreclosed home in November of 2018. The bank counter offered, then I counter offered. The bank refused that offer and pulled the home off the market. I recently discovered that the home was sold in February 2019 for $20,000 less than my initial offer. I am quite upset by this... Read more »
Generally you would not have a claim against the bank unless you believe that the bank violated federal fair housing law by discriminating against you for a prohibited reason such as your age, race, religion or family status.
We just closed on a house on April 26th and the seller's bank 2 hours before closing told us we needed to pay an outstanding lien or they would walk. Our closing disclosure 3 days before never said anything about paying this additional 1874.75 fee. Can we go back to the bank to get our money back?
In a short sale the seller's bank has significant leverage. Essentially, they can dictate terms to release their lien and those terms may go beyond the agreement between the buyer and seller. Your question does not provide information on the type of lien the bank wanted satisfied or why they would...Read more »
We wanted to purchase a small portion of an empty lot next to our house. The contractor agreed on a price with us and then nothing happened for two years. The contractor did a survey recently - not based on the portion of land we wanted to purchase. We resurrected the idea of purchasing again... Read more »
Agreements to purchase real property in Wisconsin must conform to the requirements of Section 706.02 of the Wisconsin Statutes. That section sets forth the formal requisites for a sales contract or conveyance. Section 706.02(d) requires that the agreement be signed by all parties so email messages...Read more »
My landlord just sent us a letter saying that we need to have a carpets professionally cleaned before moving out. However, the lease does not mention the house needing to be professionally cleaned whatsoever. The most it mentions regarding carpets is that it should be "cleaned". And before I signed... Read more »
You will need to look at the deed to determine how you took title to the land to figure out what to do next. I recommend you pay a real estate lawyer to examine it for you and then lay out your best options in this situation. If you and your brother own an interest in the property, and you hold...Read more »
The front page of the lease says "for the year of Jan. 1st 2018 to December 31st 2018" in the provisions on the 2nd or 3rd page it says "both the tenant and landlord acknowledge this lease is for a minimum of one year" the lease was signed in September 2018, does that mean our lease expires in... Read more »
I have not seen your lease, but it sounds to me like someone forgot to change the dates on the front of the lease. It seems they intended the lease to run for at least one year from the date you signed it, but if that was their intent the dates are unclear. If it had said "This lease is for one...Read more »
Generally, the lease from the prior owner is assigned to the new owner. The old lease remains in force through its original term. The new landlord may seek to obtain a new lease to replace the old lease but you do not have to agree to the terms. Of course, the landlord might choose to not renew...Read more »
Generally transfers between an LLC and the sole member of the LLC are exempt from the Wisconsin Real Estate Transfer Fee. Section 77.25 (15s) of the Wisconsin Statutes governs and states that the transfer fee does not apply to a conveyance ....... Between a limited liability company and one or...Read more »
Our daughter found a perfect house and wants to be sure it does not slip away but would prefer to delay closing for several months. Can a contingency be put into the contract along with a statement that she requests the opportunity to remove the contingency if another offer without a contingency... Read more »
Yes, she could include an escalation clause if another offer comes in with a closing date that is sooner, meaning her offer would increase in purchase price, or her Offer to Purchase could offer to move her closing date up if another offer comes in with an earlier closing date before your...Read more »
Assuming the easement was originally recorded, the answer depends on the easement. If the easement "run with the land," then the easement binds the heirs and successors of the individual parcel owners. In other words, the easement continues to be binding without re-recording. If, on the other hand,...Read more »
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