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Net general real estate taxes shall be prorated based on (the net general real .... review the report form or consult with an attorney for additional information ...
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Hello and welcome to the Wisconsin Realtors forms update my name is Cory Lamont I am the director of brokerage regulation and licensing for the Wisconsin Realtors today during the forms update we're going to discuss three offer to purchase forms the three that have recently been approved by the state of Wisconsin for use by real estate licensees we will first look at the residential offer to purchase which is the WB 11 followed by the second most commonly used offer to purchase which is the WB 14 residential condominium offer to purchase and then we'll round everything up by looking at the WB 13 vacant land offer to purchase the goal of this discussion is not to get into an in depth conversation but just to highlight the changes of course as always the WRA offers lots of different resources for you to gain more information about this ranging from our Wisconsin real towards magazine and legal updates hot tips all of those wonderful things so again we're just hoping to highlight some of the changes so that you can feel comfortable about the form the first thing that we're going to remind you of are the youth states the form is optional march first 2011 in mandatory july first 2011 so as of july first 2011 you must be using the residential offer to purchase the condo offer and the vacant land with the mandatory you state of july 1 2011 of course if you'd like to use the forms once they're available before july first your often able to do that if you'd like you're more than welcome to do so but as of july first you must use the form i cannot emphasize that enough so let's get into the different forms the first one we're going to start with is the WB 11 residential offer to purchase now I know some of you are sitting there thinking hey didn't we just redo this form and the answer to that is yes so when I'm discussing the differences between the two forms I'm actually going to be discussing the 2010 version and the 2011 version so again there are not a ton of things that have been changed in the residential offer but we do want to highlight some things there have been some improvements some are just minor tweaks that were made because the form had been reopened others were essential legal changes that they wanted to make sure they cleaned up so what we're going to do at this point is kind of just pick apart some of those two changes the first form the WB 11 that we're looking at if you're looking at the general provisions you will notice that for the buyers name and the property address we have longer lines that's basically to help make sure that you have extra space to write in that information the other change that you will notice if you look at the delivery section that has had a facelift all the language is essentially the same there has been a shifting of the information more intuitive more user friendly so if you're looking at the delivery section you will notice that obviously you still have your optional provisions as far as you can choose fax...