Legal Question in Real Estate Law in Wisconsin
Which legal document do I need?
I am purchasing a piece of vacant land through for sale by owner. The owner promised to pay for the utilities to be hooked up. We are closing before the utilities will be hooked up, they are scheduled to be hooked up in a few weeks. I would like to provide my title company with an additional form stating that the seller is responsible for paying for the utilties hook up. What form in Wisconsin should I use for an ammendment to this closing?
1 Answer from Attorneys
Re: Which legal document do I need?
What you really need to do is to come to an agreement with the seller that a certain amount of the closing proceeds be held in escrow to assure your work gets done, at which time the escrow agent will release the funds to the seller, or if not done, will allow you to use the money to get it done. These agreements are usually done by an attorney and usually require that the escrow agent be paid a fee. The escrow agent would usually be the title company handling the closing. Good luck!
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