Home sales reached record levels in Wisconsin during 2020, despite an economic crisis and high unemployment, caused by the Covid-19 pandemic. And it shows no signs of slowing down in 2021.

It is a Seller’s Market, with potential buyers submitting bids that are $10,000.00, $20,000.00, or even much more, above the original asking price. This in turn is causing a scarcity in available properties for sale, and it is very likely that prices will continue to rise, due to this demand.

Last week, Walworth County updated its aerial imagery on the Geographic Information Systems Application, also known as GIS. This online database is not only free, but it provides users interesting information, ranging from current owners of parcels, fair market values for tax purposes, the current and future zoning of an area and so much more.

To access Walworth County’s GIS, click the following link:
https://gisinfo.co.walworth.wi.us/oneview/

An easement is a nonpossessory right to use or enter upon real property of another without actually possessing it. Most easements are created by the owner of a burdened estate (The Grantor) and the result is a benefit to the dominant estate (The Grantee). Once created, the easement is recorded in the county where the property is located.

May 16, 2019

BEWARE! Wire transferring money on real estate transactions could cost you your life savings. We continue to advise our clients in residential real estate transactions, and in commercial real estate transactions, that they should be extremely careful about putting personal information (such as social security numbers and bank accounts) in any emails, and when they are wiring funds to an attorney’s office, a real estate agency, or a title company.

August 10, 2018

The statutory Real Estate Condition Report (“RECR”) recently tripled in size. The new RECR became effective on July 1, 2018. The RECR was already a troublesome document for sellers because it requires sellers to give their opinions on defects to real estate issues only known by professionals in the field of construction, development, legal, zoning, etc. What makes matters worse is that the application of the current law provides an opportunity for buyers to sue sellers for double and triple damages, including attorney’s fees, should the seller accidentally, unintentionally, or without knowledge fail to check one of the now over 48 separate boxes. The RECR is so onerous on sellers that entire law firms have cropped up solely dedicated to litigation of these reports.

There are circumstances where unmarried persons purchase homes together. In most of those cases, the couples take title as joint tenants, which means that upon the death of one of them, title is automatically vested by operation of law in the survivor. On the other hand, if the unmarried couples take title as tenants in common, it is almost always on a 50-50 basis.

The problems arise when the relationship ends. The question that we are often asked is: Are there common law rights for unmarried cohabitants?

January 6, 2016
 
As a continuing free service, Clair Law Offices, S.C. thought you might be interested in a recent Wisconsin Court of Appeals decision issued on December 23, 2015, involving financial institutions, foreclosures, and sales of real estate after obtaining a foreclosure judgment.
 
Key Facts
 

“Don’t sign anything until an attorney has an opportunity to review the document”
 
That includes listing contracts, and here’s one example why.
 
Key Facts
 
On July 10, 2015, a real estate company received a $378,000 commission without actually selling the property. The Wisconsin Supreme Court made the decision based on the language of the listing agreement between the seller and the realtor and the “enforceable contract” in place against the buyer. Ash Park LLC v. Re/Max Select LLC (July 7, 2015).
 

November 17, 2014

Am I Legally Required to Sign a Real Estate Condition Report?

No.

Although many Sellers are told that they are “required by law” to fill out and sign a Real Estate Condition Report (RECR), the relevant statute provides a number of exceptions. For instance, “personal representatives, trustees, conservators, and fiduciaries who are appointed by, or subject to the supervision of, a court” are excepted from RECR’s. (Wis. Stat. 709.01(2)).

Moreover, even if you are just a normal seller, you may be excepted from filling out a RECR. For example, the statute provides that if the buyer signs a written waiver, then you do not have to fill out the RECR. (Wis. Stat. 709.08). Similarly, if the buyer proceeds to closing without receiving the RECR, the buyer can no longer rescind the contract because of the lack of an RECR. (Wis. Stat. 709.08).