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Wisconsin’s Seller Disclosure Law is a consumer protection law designed to give homebuyers complete and accurate information about the condition of the property they are buying. The law does not apply to all sales.
If the law does apply, the home seller must provide buyers with a completed Real Estate Condition Report within 10 days after binding acceptance of the offer to purchase. The Report asks the seller questions about various aspects of the property’s condition and discloses information known to the seller concerning the property’s condition. Once the buyer receives the Report, the purchase offer can be rescinded in certain situations.
A REALTOR® can make sure that you get a copy of the seller’s completed Real Estate Condition Report, as well as explain your rights, as a buyer, under the new law.