Wb-11 Residential Offer To Purchase
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5For Sale By Owner Madison
Approved by Wisconsin Department of Regulation and Licensing
Madison, Wisconsin
WB-11 RESIDENTIAL OFFER TO PURCHASE
Page 1 of 5
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BROKER DRAFTING THIS OFFER ON
[DATE] IS (AGENT OF SELLER) (AGENT OF BUYER) (DUAL AGENT) STRIKE TWO
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GENERAL PROVISIONS The Buyer,
,
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offers to purchase the Property known as [Street Address]
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in the
of
, County of
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Wisconsin (Insert additional description, if any, at lines 180 - 186, 318 - 321 or attach as an addendum per line 316), on the following terms:
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PURCHASE PRICE:
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Dollars ($
).
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EARNEST MONEY of $
accompanies this Offer and earnest money of $
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will be paid within
days of acceptance.
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THE BALANCE OF PURCHASE PRICE will be paid in cash or equivalent at closing unless otherwise provided below.
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ADDITIONAL ITEMS INCLUDED IN PURCHASE PRICE: Seller shall include in the purchase price and transfer, free and clear
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of encumbrances, all fixtures, as defined at lines 124 - 132 and as may be on the Property on the date of this Offer, unless excluded
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at lines 15 - 16, and the following additional items:
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ITEMS NOT INCLUDED IN THE PURCHASE PRICE:
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ACCEPTANCE Acceptance occurs when all Buyers and Sellers have signed an identical copy of the Offer, including signatures on
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separate but identical copies of the Offer. CAUTION: Deadlines in the Offer are commonly calculated from acceptance. Consider
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whether short term deadlines running from acceptance provide adequate time for both binding acceptance and performance.
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BINDING ACCEPTANCE This Offer is binding upon both Parties only if a copy of the accepted Offer is delivered to Buyer on or
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before
. CAUTION: This Offer may be withdrawn prior to delivery of the accepted Offer.
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DELIVERY OF DOCUMENTS AND WRITTEN NOTICES Unless otherwise stated in this Offer, delivery of documents and written notices
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to a Party shall be effective only when accomplished by one of the methods specified at lines 24 - 33.
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(1) By depositing the document or written notice postage or fees prepaid in the U.S. Mail or fees prepaid or charged to an account
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with a commercial delivery service, addressed either to the Party, or to the Party’s recipient for delivery designated at lines 27 or
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29 (if any) for delivery to the Party’s delivery address at lines 28 or 30.
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Seller’s recipient for delivery (optional):
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Seller’s delivery address:
29
Buyer’s recipient for delivery (optional):
30
Buyer’s delivery address:
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(2) By giving the document or written notice personally to the Party, or the Party’s recipient for delivery if an individual is designated at lines 27 or 29.
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(3) By fax transmission of the document or written notice to the following telephone number:
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Buyer: (
)
Seller: (
)
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OCCUPANCY Occupancy of the entire Property shall be given to Buyer at time of closing unless otherwise provided in this Offer (lines
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293 through 297). At time of Buyer’s occupancy, Property shall be free of all debris and personal property except for personal property
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belonging to current tenants, or that sold to Buyer or left with Buyer’s consent. Occupancy shall be given subject to tenant’s rights, if any.
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LEASED PROPERTY If Property is currently leased and lease(s) extend beyond closing, Seller shall assign Seller’s rights under said
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lease(s) and transfer all security deposits and prepaid rents thereunder to Buyer at closing. The terms of the (written) (oral) STRIKE ONE
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lease(s), if any, are
.
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RENTAL WEATHERIZATION This transaction (is) (is not) STRIKE ONE exempt from State of Wisconsin Rental Weatherization
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Standards (Wis. Admin. Code Comm 67). If not exempt, (Buyer) (Seller) STRIKE ONE will be responsible for compliance,
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including all costs. If Seller is responsible for compliance, Seller shall provide a Certificate of Compliance at closing.
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PLACE OF CLOSING This transaction is to be closed at the place designated by Buyer’s mortgagee or
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no later than
,
unless another date or place is agreed to in writing.
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CLOSING PRORATIONS The following items shall be prorated at closing: real estate taxes, rents, water and sewer use charges,
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garbage pick-up and other private and municipal charges, property owner’s association assessments, fuel and
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. Any income, taxes or expenses shall accrue to Seller, and be prorated, through the day
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prior to closing. Net general real estate taxes shall be prorated based on (the net general real estate taxes for the current year, if
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known, otherwise on the net general real estate taxes for the preceding year) (
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). STRIKE AND COMPLETE AS APPLICABLE
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CAUTION: If proration on the basis of net general real estate taxes is not acceptable (for example, completed/pending
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reassessment, changing mill rate, lottery credits), insert estimated annual tax or other formula for proration.
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PROPERTY CONDITION PROVISIONS
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PROPERTY CONDITION REPRESENTATIONS: Seller represents to Buyer that as of the date of acceptance Seller has no notice
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or knowledge of conditions affecting the Property or transaction (see below) other than those identified in Seller’s Real Estate
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Condition Report dated
, which was received by Buyer prior to Buyer signing this Offer and which is made a part of this
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Offer by reference COMPLETE DATE OR STRIKE AS APPLICABLE and
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INSERT CONDITIONS NOT ALREADY INCLUDED IN THE CONDITION REPORT .
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