Legal Question in Real Estate Law in Wisconsin
Offer to Purchase agreement
We had a signed(buyer and realtor representative) offer to purchase agreement for the home we are selling and the buyer backed out. What are our rights?
Asked on 2/18/07, 4:36 pm
1 Answer from Attorneys
Thomas Schober
Schober Schober & Mitchell, S.C.
Re: Offer to Purchase agreement
If you used the standard Wisconsin Offer to Purchase forms, unless they were modified, your rights as Seller when a Buyer defaults are set forth in the default provisions. There is also a practical aspect: if you pursue your rights, the Buyer may decide to tie up your property. That could delay a sale. You should see a knowledgable real estate attorney to be sure you consider all the possibilities. Good luck!
Answered on 2/18/07, 7:42 pm
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