Wisconsin Continuing Education COURSE
WI 2023-2024 Wisconsin Contract Contingencies, Default, and Cancellation
Making an offer to purchase a property is often stressful for buyers, filled with questions, deadlines, and contingencies. Real estate professionals play a crucial role in helping buyers navigate this process with confidence and knowledge. Understanding the details associated with an offer and being able to explain those details to anxious buyers are two distinct and essential skill sets that licensees must possess.
To be a successful licensee, staying informed about how to properly work with offers to purchase and all the associated contingencies is essential. Additionally, licensees must have a clear understanding of contract defaults and their responsibilities when it comes to earnest money.
This three-hour mandatory course fulfills three of the 12 hours of mandatory continuing education in the topics of:
- The Inspection Contingency in Wisconsin Offers to Purchase
- Default, Earnest Money, and WB-45 Cancellation Agreement and Mutual Release
- Financing Commitment and Appraisal Contingencies in Wisconsin Offers to Purchase
Course highlights include:
- Inspection contingencies
- Inspections vs. testing
- Notices and amendments
- Buyer's home inspection and report
- Home inspector dos and don'ts
- Seller financing
- Financing commitment contingencies
- Land contracts
- Offers non-contingent on financing (e.g., cash offers)
- Appraisal contingencies
- Contract default
- Trust fund handling and disbursement
- Contract termination