As of July 1, 2018 the State of Wisconsin has changed the Real Estate Condition Report that is completed by anyone selling a property.
The previous version was 3 pages long, and the new version is 6 pages long.
This may sound annoying, but really it’s not. For the typical home owner, not everything on this document will apply to you.
So what is the purpose of this document? Simple. It is your opportunity as the Seller to detail any issues there might be with the house. These “issues” can range from something major like a structural problem, or something as simple as not having the appropriate smoke and carbon monoxide detectors.
When completing this document, it is in YOUR best interest to be as honest as possible. If one of these “issues” is not disclosed properly, this can cause major problems later. Even if you are selling a property “AS IS” this does NOT excuse you from liability. You MUST disclose any issues that you are aware of.
As Realtors, we are not allowed to give you advice on what is an “issue”. Therefore, when completing this document your best bet is to always be cautious and disclose anything you might be concerned about. When in doubt, write it down!
Questions, comments, concerns? Let me know.