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wisconsin form offer purchase

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Attorneys Title Guaranty Fund Inc. Approved by the Wisconsin Real Estate Examining Board 01-1-12 Optional Use Date 04-1-12 Mandatory Use Date Page 1 of 10 WB-12 WB-12 FARM OFFER TO PURCHASE DATE IS AGENT OF BUYER LICENSEE DRAFTING THIS OFFER ON AGENT OF SELLER/LISTING BROKER AGENT OF BUYER AND SELLER STRIKE THOSE NOT APPLICABLE GENERAL PROVISIONS The Buyer offers to purchase the Property known as Street Address in the of County of if any at lines 453-459 or 533-541 or attach as an addendum...
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Who needs the WB-12 Farm Offer to Purchase?

WB-12 Farm Offer to Purchase is a form approved by the Wisconsin Real Estate Examining Board. The form was created for use of real estate brokers representing the the seller and  buyer in the sale and purchase of a farm.

What is the form for?

The WB-12 Farm Offer to Purchase is supposed to record the details of the farm transaction and legally bind the parties to follow its provisions. Therefore, it serves as a legal confirmation of the purchase and sale of the farm.

Is the WB-12 Farm Offer to Purchase accompanied by other documents?

Seller has to deliver to the buyer the following:

- A list of all federal, state, county, and local conservation, environmental, farmland, or other land use programs, restrictions, agreements, or conservation easements, that apply to any part of the property.

- Evidence of title in the form on an owner’s policy of title insurance in the amount of the purchase price on a current ALTA form issued by an insurer licensed to write title insurance in Wisconsin.

- Documents evidencing that the sale of the property has been properly authorized, if seller is a business entity.

- An inventory of all equipment, fixtures, appliances, supplies, tools and other personal property included in the transaction.

- Uniform Commercial Code lien search as to the personal property included in the purchase price, showing the property to be free of all liens, other than liens to be released prior to closing.

- Any available agricultural operational records including pesticide, fertilizer and herbicide application, handling and storage, and livestock waste storage and spreading.

- Documentation confirming tillable land acreage, crop allocation, different crop bases, crop yields such as Farm Service Agency reports.

- Financial records including profit and loss statements, balance sheets, accounts payable and receivable, and records pertaining to any accrued or payable income, sales, payroll, unemployment or Social Security taxes relative to the farm operations.

- Municipal records, reports or other documentation confirming what development rights have been transferred or received under the applicable municipal Transfer of Development Rights ordinances.

- Any contracts, leases, permits, licenses, distributorships or franchises relative to the farm operations.

When is the form due?

The offer is binding upon the seller and buyer if a copy of the accepted offer is delivered to the buyer on or before the day agreed by the parties. The offer may be withdrawn prior to delivery of the accepted offer.

How do I fill out the form?

As a rule, the form is completed by the real estate broker involved in the transaction. The text of the form is self-explanatory.

Where do I send the WB-12 Farm Offer to Purchase?

Two original copies of the offer must be retained by the buyer and the seller, and one more copy should be made for the broker’s records.

Video instructions and help with filling out and completing wisconsin form offer purchase
Instructions and Help about 1 12 farm form
Hey guys welcome back TJ by tens the strategic real estate team today we're actually going to be going over the Wisconsin residential offer to purchase it's actually a full nine pages long we're just gonna kind of try to make a quick video of it obviously the shorter the video probably the better we don't want to bore the heck out of you so we're just going to kind of touch on some of the major points the key thing to remember is that the blank lines that are actually in the offer to purchase that's where you're filling in the terms of what you're offering the seller and then all the other stuff we'll touch on some of it but up that's the legal stuff base to protect you and protect the seller it explains what happens when if you default it and just walked away or if the seller said they didn't want to sell to you so let's just jump right in here and enjoy okay guys so here we have the Wisconsin residents offer to purchase if you're actually watching this on our website right below this video there should be a little PDF download link so you can download this and either go through it with us or if you can't sleep tonight you can read through it and it'll probably help you fall asleep so as you can see right on top we have the date here that we're going to write in that we're writing the offer you got to put the buyers name in for the buyers name you want to put in there however you want to take title to the to the to the property so for myself if if I wanted it to be TJ by tense I would just put TJ by tense but I wanted my middle name in there or just my middle initial I'd have to write that in there so just make sure you put in the buyer as the way you want to take title to the property next we're going to put in the street address after that we're going to move right on down to the purchase price here on line 8 line 10 we talked about earnest money earnest money some people don't know what it is you've seen some of our other videos we actually talked about what it is earnest money is money that you're going to send along with the offer just telling the seller that you're serious about the serious about that you're serious about buying the house so if you send a hundred dollars in earnest money that's not very serious if you send a thousand ten thousand obviously we're getting a lot more serious here it all kind of depends based on what the what the price of the house is so online 14 through 16 we're actually going to be talking about what kind of things are included in the purchase price so this is where you would put in things like the washer dryer refrigerator stove any other items in the house if there are window coverings things like that if there are things that were not included in the purchase price that lines 17 to 18 that's where we'd write that line 23 27 kind of talks about acceptance acceptance happens when both parties have signed off on the offer 27 is let's say you write this offer on Monday the first and we put binding...
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