So, you found your dream home and agreed on a purchase price with the Seller, but it is “For Sale by Owner.” That means there is no realtor to guide you and the seller through the transaction, and you’re probably little nervous about writing up an Offer to Purchase on your own. (If you’re not, …
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Wisconsin Rental Agreement Form: Make Sure your Lease Does not Contain Prohibited Provisions Comments Off
Illegal Provisions May Void Lease Many Wisconsin landlords are not aware that if they have an illegal provision in their Wisconsin rental agreement form, the entire agreement may be unenforceable. In fact, the lease may be unenforceable even if the landlord never tries to enforce the “illegal” provision. The issue was addressed by the Wisconsin …
Read MoreWausau WI Real Estate Lawyer: Contractual Status of Mortgages Trumps Recording Order Comments Off
A Wisconsin appellate court ruled in U.S. Bank v. Landa, 2010AP3036, that a loan agreement designating one loan as the “second mortgage” controlled, even though the “second mortgage” was recorded with the register of deeds before the mortgage that was intended to be the “first” mortgage. In that case, Landa bought a home for $210,000. …
Read MoreGuarantors Liable for Deficiency in Foreclosure Sale Comments Off
In Wisconsin, the holder of a mortgage (typically a bank) must wait six months (the “redemption period”) from the date of a foreclosure judgment to hold a foreclosure sale of commercial properties or multifamily residences. This gives the debtor a chance to redeem the property by paying the judgment before the date of the foreclosure …
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