If you are purchasing a home in Wisconsin, prior to closing the seller will usually provide you with a property disclosure form. State law requires that home sellers disclose any condition or defect that would result in a significant negative effect on the property value, significantly impair the health or safety of future occupants, or significantly shorten or negatively affect the normal life of the property.
The information contained within the seller’s disclosure document will help you to determine whether (1) property flaws will require repair prior to closing, (2) the offer price needs adjustment, or (3) the defects warrant outright cancellation of the offer.
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