Legal Question in Real Estate Law in Wisconsin

Every home purchase contract in WI is unique and all issues are negotiable. While significant defects must normally be disclosed, even this requirement can be waived during negotiations or via "as is" sales by a fiduciary who has never occupied the property (such as an estate representative or a bank after a foreclosure). It is also unclear whether a fire is indeed such a "significant defect," since a minor fire with no damage would not matter much. It is therefore always critical that you hire an experienced real estate lawyer to represent you in every real estate purchase, since these transactions are otherwise loaded with hidden traps. Brokers' obligations normally run towards the seller rather than the buyer and even so called "buyer's brokers" only have limited duties to the buyer, since the seller ultimately pays their fees. Hiring a lawyer simply to review an offer and advise you before you accept it should not be very expensive at all, especially considering that a home purchase may be the largest transaction of your life, effecting you for the next 30 years plus. My answer here does mean that I am representing you, so be sure to consult your own attorney before deciding on what you should do, or contact my office at 262-633-3090, 333 Main St, Racine, WI 53403, during business hours if you desire formal representation. See me on the web at www.jayknixonlaw.com, or view over 15 years of my previous answers at http://www.lawguru.com/answers/atty_profile/view_attorney_profile/jknixonAttorney answers may contain advertising materials.