Condition Report

Question:
The licensee is listing a property. The owner`s son is an attorney, and he helped the sellers fill out the "Condition Report" on the attorney`s condition report form. Can the licensee use that for the listing?
Answer:
Sellers are required to disclose defects, per Wis. Stat. Chapter 709. Generally, sellers of one-to-four dwellings are required to complete a Real Estate Condition Report. Therefore, when a seller accurately completes a RECR, the seller discloses information about known defects in the property to prospective buyers. Although the seller is required to complete a RECR, the seller does not necessarily have to use the WRA`s RECR (WRA-CR). The seller is required to complete a RECR that meets the requirements of Wis. Stat. § 709.03. 

If the sellers have provided a RECR completed with the assistance of legal counsel, the listing licensee may provide the RECR to buyers upon the sellers` instructions...   ...more