MARCH 2017, 17.03
The Closing of Buyer’s
Property Contingency and The
Secondary Offer Contingency
From a seller’s perspective, the Closing of Buyer’s Property Contingency
is perhaps the least desirable contingency to appear in a buyer’s offer.
The success or failure of the seller’s transaction is dependent on the
buyer’s transaction, which might be dependent on another buyer’s
transaction, which might be dependent on another buyer’s transaction,
and so on. If just one piece of any of the multiple transactions fails to fall
into place, the chain of events leading to the seller’s successful closing
is in jeopardy.
From the buyer’s perspective, the Secondary Offer Contingency is
perhaps the least desirable contingency to include. Success of the
secondary buyer’s offer depends on the actions of the seller and the
primary buyer. The secondary buyer essentially waits around hoping
that the primary offer will fall apart for some reason such as a bad
inspection or the primary buyer’s unwillingness to waive the Closing of
Buyer’s Property Contingency.
Success or failure of these two contingencies rests on the actions
of an external third party or third parties. While not always easy to
navigate, both contingencies are common and offer important benefits
to the parties who use them. Timing, deadlines, delivery and sometimes
actual receipt are critical to these contingencies and making sure they
function the way the parties intended.
Closing of Buyer’s Property
Contingency
IN THIS ISSUE
P1
P4
Closing of Buyer's Property Contingency
Secondary Offer Contingency
notice, a buyer can waive the contingency and preserve the buyer’s
offer as primary or not waive the contingency and lose the property.
This contingency is satisfied by the closing of the sale of the buyer’s
property and not satisfied by the buyer merely accepting an offer. If
the buyer’s property has not closed by the deadline in the contingency
and the buyer and the seller wish to continue with the transaction, the
parties can use a WB-40 Amendment to Offer to Purchase to change the
deadline in the contingency.

REALTOR® Practice Tip
The Closing of Buyer’s Property Contingency is used most
frequently in residential transactions but its use it not limited
to residential transactions. The following WB Offers have a preprinted Closing of Buyer’s Property Contingency.
• WB-11 Residential Offer to Purchase (Lines 304-311)
• WB-12 Farm Offer to Purchase (Lines 521-526)
• WB-14 Condominium Offer to Purchase (Lines 387-394)
• WB-15 Commercial Offer to Purchase (Lines 471-478)
The WB-13 Vacant Land Offer to Purchase, WB-16 Business
Offer with Real Estate and WB-17 Business Offer without Real
Estate do not have a Closing of Buyer’s Property Contingency,
but if suitable for the transaction, a buyer could negotiate such
a contingency into the offer.
Many buyers want or need to sell an existing property before
becoming contractually obligated to purchase a new home. For this
purpose, a buyer can use the Closing of Buyer’s Property Contingency.
This is a short though somewhat complex contingency in some of the
WB offers. This contingency benefits both the buyer and the seller. The
buyer does not have to purchase the seller’s property unless the sale of
the buyer’s property closes by a date specified in the contingency. If the
seller accepts a bona fide secondary offer, the seller can issue a notice
to the buyer that the seller has accepted a secondary offer. This notice
is commonly referred to as the “bump notice.” After receiving a bump
Wisconsin REALTORS® Association
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Legal Update, March 2017
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Drafting the Closing of Buyer’s Property
Contingency in the WB-11 Residential Offer
to Purchase
Lines 304-311 of the WB-11 Residential Offer to Purchase
o CLOSING OF BUYER'S PROPERTY CONTINGENCY: This Offer
is contingent upon the closing of the sale of Buyer's property
located at ________________________________
_____________, no later than ______________. If
Seller accepts a bona fide secondary offer, Seller may give
written notice to Buyer of acceptance. If Buyer does not
deliver to Seller a written waiver of the Closing of Buyer's
Property Contingency and______________________
________________________________________
_______________________________________
_______________________________________
_______________________________
[INSERT OTHER REQUIREMENTS, IF ANY (e.g., PAYMENT
OF ADDITIONAL EARNEST MONEY, WAIVER OF ALL
CONTINGENCIES, OR PROVIDING EVIDENCE OF SALE OR
BRIDGE LOAN, etc.)] within ____ hours of Buyer's Actual
Receipt of said notice, this Offer shall be null and void.
In the WB-11 Residential Offer to Purchase, the Closing of Buyer’s
Property Contingency is at lines 304-311. The buyer identifies the
property for sale on line 305 and sets a deadline for the sale on line
306. If a buyer is unable to close on the buyer’s property by the deadline
set on line 306, the buyer is unable to satisfy this contingency and is not
obligated to complete the transaction.
When drafting the Closing of Buyer’s Property Contingency, it is
important to include a deadline on line 310 for the buyer’s response to a
bump notice. An agent should not leave the deadline on line 310 blank.
Without a deadline on line 310, neither the buyer nor the seller knows
how long the buyer has to decide whether to waive the contingency. If
a listing agent receives an offer from a buyer without a deadline on line
310, the agent should discuss with the seller the potential problems that
could arise without a deadline for waiving the contingency and offer to
address the oversight by preparing a counter-offer to add a deadline.
If the parties have already agreed to an offer without a deadline for
waiving the contingency, they can use an amendment to add one. If the
parties are unable to agree to a deadline using amendments, they may
need a court to determine the deadline.

REALTOR® Practice Tip
Settling a dispute about any contractual ambiguity in the offer
may require a lawsuit. For most buyers and sellers, pursuing
legal action as part of the sale usually will involve more time
and money than either party was intending to spend on the
transaction. Contract interpretation has few “black and white”
rules. Generally, courts will attempt to create a reasonable
solution to address a contractual error or ambiguity. If asked to
determine a deadline for a buyer to waive the Closing of Buyer’s
Property Contingency, a court would try to determine what a
Wisconsin REALTORS® Association
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 REALTOR® Practice Tip continued
reasonable deadline is. The court may look at market practices
to determine what amount of time is usual or customary for
the deadline in the Closing of Buyer’s Property Contingency.
Common deadlines include 72, 48 and even 24 hours. To
avoid putting buyers or sellers in this position, agents should
carefully draft contracts to make sure they accomplish the
instructions of the parties. The best practice is to complete all
blanks in the offer or mark provisions as "not applicable" or
"(N/A)" to document the agreement between the parties. If
a buyer wishes to negotiate an offer with a Closing of Buyer's
Property Contingency but does not wish the seller to have the
opportunity to issue a "bump notice," the buyer can delete the
bump language in the offer by crossing it out and see if the
seller is willing to accept it.
Issuing the bump notice
A seller cannot try to bump the primary buyer without accepting a
bona fide secondary offer. A bona fide offer is one that is genuine and
real. For a secondary offer to be a bona fide offer, it does not have to
be free from contingencies or be a cash offer. It has to be a legitimate,
good-faith offer from an actual buyer intending to purchase the property.
The secondary offer does not have to be better than or different from the
primary offer and could itself be contingent on the sale of the secondary
buyer’s property.
Accepting a secondary offer gives the seller the opportunity but not
the obligation to issue a bump notice to the primary buyer. Whether to
issue a bump notice is always a seller’s decision. Secondary buyers
sometimes assume that if the seller accepts a secondary offer, the
seller must try to bump the primary buyer. If the seller chooses to issue a
bump notice, the seller would use the WB-41 Notice Relating to Offer to
Purchase. Issuing a bump notice triggers a buyer’s decision to waive the
contingency and remain in the transaction or not waive the contingency
and be “bumped” out of the transaction.
Responding to the bump notice
The buyer’s deadline for deciding whether to waive the contingency is
in hours and is on line 310 of the WB-11 Residential Offer to Purchase.
The deadline for waiving the Closing of Buyer’s Property Contingency
runs from a buyer’s actual receipt of the bump notice from the seller.
Actual receipt means that the buyer, not the buyer’s recipient for
delivery, has the notice. Regardless of when the notice was delivered,
actual receipt does not occur until the primary buyer has actual physical
possession of the written notice. Although many timelines in the offer
to purchase are triggered when a document or notice is delivered, the
hours for the bump notice begin upon actual receipt of the bump notice
by the primary buyer.
When the buyer receives the bump notice on a WB-41 Notice Relating
to Offer to Purchase, lines 38-44 of the WB-41 give the buyer and the
agents the opportunity to document when a notice was sent to the
receiving party and for the recipient to acknowledge actual receipt.
While acknowledging when actual receipt occurs is not mandatory or
necessary for the functioning of the contingency, it is useful in avoiding
disputes regarding when the buyer’s deadline begins for waiving the
contingency.
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Lines 38-44 of the WB-41 Notice Relating to Offer to
Purcase
ACTUAL RECEIPT
If the Offer requires Actual Receipt the following may be
completed
This Notice was sent to the Receiving Party
by ________________________ on _____________
Licensee and Firm for Receiving Party
Date
at __________a.m./p.m. STRIKE ONE
Receiving Party acknowledges Actual Receipt of this Notice
occurred on___________________ at ____________
a.m./p.m. STRIKE ONE (x)________________________
Initials of Receiving Party
If the buyer chooses to waive the contingency, the buyer delivers a
written wavier of the contingency to the seller before the deadline on
line 310. The buyer would use the WB-41 Notice Relating to Offer to
Purchase to notify the seller of the buyer’s waiver. If there are additional
requirements for waiving the contingency on lines 307-308, the buyer’s
deadline for complying with those requirements is the same deadline
for waiving the contingency on line 310. Additional requirements may
include providing to the seller evidence of a bridge loan, additional
earnest money, or evidence of the sale of the buyer’s property. If the
buyer delivers a notice and any additional requirements by the deadline
on line 310, the bump clause is essentially removed from the offer and
the seller can no longer terminate the transaction based on the Closing
of Buyer’s Property Contingency.
Waiving the Closing of Buyer’s Property
Contingency
Contingencies in an offer to purchase may be waived by the party
benefiting from the contingency. A buyer or seller may only waive a
contingency that is for that party's benefit. However, a party may not
waive a contingency if the waiver would deprive the other party of a
benefit under that provision.
The Closing of Buyer's Property Contingency benefits both the buyer
and the seller. A buyer is protected if the buyer’s home does not sell
because the buyer is not obligated to buy the property. Concurrently,
the seller has the right to accept secondary offers and proceed with a
secondary offer if the primary buyer does not waive the contingency and
fulfill any other conditions agreed on in the contingency after receipt of
the bump notice. Each party enjoys certain rights and benefits under
this contingency, and neither party can unilaterally waive it. If the parties
bilaterally agree to waive this contingency, they would use a WB-40
Amendment to Offer to Purchase to remove this contingency.
Although the buyer may not unilaterally waive the contingency, if the
buyer receives an offer on the buyer’s property, the buyer may notify the
seller of the offer. If the buyer has received an offer and perhaps a loan
commitment on the buyer’s sale, the buyer could request by amendment
that the seller waive the contingency either outright or with conditions
such as proof of the offer or evidence of a bridge loan. The seller may or
may not agree to the buyer’s amendment since waiving the contingency
deprives the seller of the ability to issue a bump notice to the buyer.
Other versions of the Closing of Buyer’s
Property Contingency
There are different versions of the Closing of Buyer’s Property
Contingency that appear in company addenda as well as local versions
of Addendum A. An agent should read the contingency carefully if it is
not the standard version pre-printed in the WB offers. Other versions
of the contingency likely modify provisions of the standard version. For
example, the REALTORS® Association of Northeast Wisconsin (RANW)
Addendum A includes an optional Closing of the Sale of Buyer’s Property
Contingency that includes additional provisions such as a buyer agreeing
to list the buyer’s property for sale no later than seven days after the
seller accepts the buyer’s offer with a named firm for a maximum listing
price. Additionally, the buyer can use RANW’s Addendum A to make
the buyer’s offer contingent on the closing of the sale of the buyer’s
property without a bump clause if the buyer has an accepted offer
on the property. If the buyer does not have an accepted offer on the
property, the buyer has to check an additional box if the buyer wants to
give the seller a bump clause.
The process for waiving the contingency in the RANW Addendum A
departs significantly from the process in the contingency found in the
WB offers. To waive the RANW Addendum A contingency, the buyer has
two options. Option #1 is for the buyer to waive the Closing of the Sale
of Buyer’s Property Contingency and all financing contingencies making
it a cash offer. A buyer choosing Option #1 must also provide written
verification from a financial institution or a third party in charge of the
buyer’s funds that the buyer has funds sufficient to close. Option #2 is
for the buyer to waive the contingency by delivering a copy of the offer
on the buyer’s property to the seller. The offer delivered to the seller
must have all contingencies other than financing satisfied or removed.
The pre-printed Closing of Buyer’s Property Contingency in the Offer is
Wisconsin REALTORS® Association
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14 lines long. The RANW Addendum A Closing of the Sale of Buyer’s
Property Contingency with its component parts is 47 lines long. This is
just one example of the significant differences between the pre-printed
Closing of Buyer’s Property Contingency as found in the WB offers and
an alternate version found in a local Addendum A.

REALTOR® Practice Tip
When drafting or presenting an alternate version of the Closing
of Buyer’s Property Contingency, the agent should read it
carefully and compare and contrast its provisions with the
pre-printed version of the contingency in the WB offers. By
identifying similarities and differences, the agent can explain
the advantages and disadvantages associated with using the
alternate version of the contingency rather than the pre-printed
version. As demonstrated in the review of the RANW Addendum
A Closing of the Sale of the Buyer’s Property Contingency, there
are fundamental differences in the process and in the required
actions in these contingencies. An agent should review the
options available for this contingency with the buyer and select
the choice that best achieves the instruction of the party.
A seller can use a counter-offer to attempt to eliminate the
contingency altogether or propose an alternate version.
The Secondary Offer Contingency
All of the WB offers to purchase have a provision that permits a seller
to continue marketing a property after binding acceptance of an offer
and to accept secondary offers. Line 28-29 of the Binding Acceptance
section in the WB-11 Residential Offer to Purchase provide, “Seller may
keep the Property on the market and accept secondary offers after
binding acceptance of this Offer.” A seller can continue marketing the
property after accepting an offer, and a seller can continue to negotiate
with other buyers using the Secondary Offer Contingency.

REALTOR® Practice Tip
The Secondary Offer Contingency is used frequently in
residential transactions, but its use it not limited to residential
transactions. The following WB offers have a pre-printed
Secondary Offer Contingency.
• WB-11 Residential Offer to Purchase (Lines 312-317)
• WB-12 Farm Offer to Purchase (Lines 527-531)
• WB-13 Vacant Land Offer to Purchase (Lines 405-410)
• WB-14 Condominium Offer to Purchase (Lines 395-400)
The WB-15 Commercial Offer to Purchase, WB-16 Business
Offer with Real Estate, and WB-17 Business Offer without
Real Estate do not have a Secondary Offer Contingency, but
if suitable for the transaction, a buyer could negotiate such a
contingency into the offer.
Wisconsin REALTORS® Association
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Drafting the Secondary Offer Contingency
in the WB-11 Residential Offer to Purchase
Lines 312-317 of the WB-11 Residential Offer to Purchase
SECONDARY OFFER: This Offer is secondary to a prior accepted
offer. This Offer shall become primary upon delivery of written
notice to Buyer that this Offer is primary. Unless otherwise
provided, Seller is not obligated to give Buyer notice prior to
any deadline, nor is any particular secondary buyer given the
right to be made primary ahead of other secondary buyers.
Buyer may declare this Offer null and void by delivering written
notice of withdrawal to Seller prior to delivery of Seller's notice
that this Offer is primary. Buyer may not deliver notice of
withdrawal earlier than ______days after acceptance of this
Offer. All other Offer deadlines which are run from acceptance
shall run from the time this Offer becomes primary.
To include a Secondary Offer Contingency, a buyer needs to know
that there is a primary offer already accepted by the seller. Licensees
can disclose that a seller has accepted an offer, an offer subject to
contingencies, or an offer subject to a contingency that has a bump
clause. When a buyer is aware that there is already an offer on a
property, a buyer can choose to write a secondary offer on the property
by including the optional secondary offer contingency in the offer to
purchase.
Lines 312-317 of the WB-11 Residential Offer to Purchase
Wis. Admin. Code § REEB 24.12 Confidentiality of Offers tells
licensees what they can and cannot reveal about negotiations
between buyers and sellers.
• A licensee cannot disclose any of the terms of one
prospective buyer’s offer to purchase, exchange
agreement or option contract proposal to any other
prospective buyer or any person with the intent that this
information be disclosed to any other prospective buyer.
• Licensees shall encourage all prospective buyers to
submit their best offers.
• A licensee may but is not required to disclose:
• Information known by the licensee regarding the
existence of other offers on the property.
• That a seller has accepted an offer.
• That a seller has accepted an offer subject to
contingencies.
• That a seller has accepted an offer subject to a
clause requiring removal of certain contingencies
upon the occurrence of an event such as receipt,
acceptance or conditional acceptance of another
offer.
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When a buyer submits a secondary offer, a buyer includes a deadline
on line 316 before which the buyer will not withdraw the buyer’s secondary
offer, essentially creating a “lock-in” provision for the secondary offer.
Because the listing agent cannot disclose the length of the bump clause
in the primary buyer’s offer, deciding on the length of time to put in
for the lock-in provision on line 316 can be a bit of a guessing game.
Most agents are familiar with what is customary and usual for a bump
clause in their area and can discuss with the secondary buyer what
a reasonable deadline will be for the lock-in provision. If the agent
guesses wrong and makes the deadline too short for the seller to issue
the bump notice and determine the primary buyer’s response, the listing
agent can counter the secondary offer to try to achieve a deadline that
is more suitable to the seller’s transaction.
With a secondary offer, the buyer is agreeing not to withdraw the
secondary offer before the expiration of the lock-in provision on line 316.
When drafting an offer for a buyer in secondary position, the licensee
will want to explain this lock-in period. Usually during this period, a
secondary buyer is hoping that the seller will issue a bump notice to the
primary buyer and that the primary buyer will not waive the contingency
allowing the seller to bump the primary buyer and elevate the secondary
buyer. A licensee drafting a secondary offer for a buyer should discuss
with the secondary buyer that though the secondary offer may cause the
seller to issue a bump notice, the seller is not obligated to try to bump
the primary buyer. Additionally, the secondary buyer should be aware
that there is no priority among secondary offers and the seller is able
to elevate any secondary offer the seller so chooses regardless of the
terms or when it was submitted.

Can A Licensee?
Can a licensee disclose to a buyer terms such as price and
closing date from another buyer’s offer? No!
Can a licensee encourage a buyer to submit the buyer’s best
offer? Yes!
Can a licensee disclose that the seller has accepted an offer?
Yes!
Can a licensee disclose that the seller has accepted an offer
subject to a contingency? Yes!
Can a licensee disclose that the seller has accepted an offer
subject to a contingency with a bump clause? Yes!
Can a licensee disclose that the seller has accepted an offer
contingent on the sale of the buyer’s home? No!
Can a licensee disclose that the seller has accepted an offer
with a 72-hour bump clause? No!
A licensee can disclose generally that a seller has an accepted
offer with a contingency but not the nature of the contingency.
A licensee can disclose that a seller has accepted an offer with
a bump clause but not the length of the bump clause.
Wisconsin REALTORS® Association
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REALTOR® Practice Tip
A buyer can draft a secondary offer to include a priority clause
or even a provision that would prohibit the seller from accepting
other secondary offers. A priority clause is an additional
provision that would require a seller who accepts that
secondary offer to elevate that secondary offer with the priority
clause to primary position ahead of all other secondary offers
if it became possible for the seller to elevate a secondary offer.
For alternative versions of the Secondary Offer, see Wisconsin
Real Estate Clauses — Contingencies and Other Standard
Provisions, 2012 Edition.
If the seller has not elevated the secondary buyer to primary position
before the deadline in the Secondary Offer Contingency, the secondary
buyer can withdraw the secondary offer or choose to stay in secondary
position. Once the deadline in the Secondary Offer Contingency passes,
the secondary buyer is free to remain in secondary position or withdraw
the secondary offer at any time. When a listing agent is working with
a seller who has a primary buyer with a Closing of Buyer’s Property
Contingency and a secondary buyer, the licensee must use the deadlines
in the two different contingencies to the seller’s advantage.
Example #1
A seller accepts a primary offer with a Closing of Buyer’s Property
Contingency and a 72-hour deadline for the primary buyer to waive
that contingency if the seller issues a bump notice after accepting a
secondary offer. On March 23, the seller accepts a secondary offer
where the buyer agreed not to withdraw the secondary offer for two days
after acceptance. Because the secondary offer was accepted on March
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Encouraging secondary offers
23, the secondary buyer is agreeing not to withdraw the secondary offer
until March 26.
Many agents think about using secondary offers in the context of
a seller who has already accepted a primary offer contingent on the
closing of the buyer’s property. A seller with an offer contingent on the
closing of the buyer’s property needs to accept a secondary offer to be
able to try to bump that primary buyer. Other sellers can also benefit
from accepting secondary offers.
The seller issues a bump notice to the primary buyer. The primary
buyer actually receives the notice at 4:00 p.m. on March 23. If the
primary buyer wants to remain in primary position, the primary buyer
must waive the Closing of Buyer’s Property Contingency by 4:00 p.m.
on March 26.
At 9:00 a.m. on March 26, the secondary buyer decides to withdraw
the secondary offer. The primary buyer does not waive the Closing of
Buyer’s Property Contingency by 4:00 p.m. on March 26. The seller went
from having two offers to zero offers.
There are many factors that could cause the primary offer to fall apart
including a bad inspection, a low appraisal, or perhaps a buyer who
decides on a different property and wants to terminate the transaction.
Many buyers, especially buyers not represented by agents, are not aware
of the secondary offer process or even the possibility of a secondary
offer. Frequently, when buyers contact agents about a property, they
are told that there is already an accepted offer on the property and
the buyers assume that is the end of negotiation possibilities on that
property. For many sellers, encouraging secondary offers is in their best
interest. Without knowing what secondary offers are possible, the seller
may not be able to make the most informed decision about how to
proceed with a primary offer.
To avoid this result, the listing agent could have discussed countering
the secondary offer to extend that lock-in provision for longer than the
primary buyer’s deadline for waiving the contingency. If the seller had
countered the secondary offer to make the lock-in period three days
after acceptance, the secondary buyer would not have been able to
withdraw the offer until on March 27. By delaying the first time that the
secondary buyer could withdraw the offer, the seller would have enough
time to issue the bump notice and see if the primary buyer was going to
waive the contingency to stay in primary position or get bumped out of
the transaction. If the primary buyer did not waive the contingency by
4:00 p.m. on March 26, the seller at that time could have elevated that
secondary offer to primary position.
GROW YOUR BUSINESS
The early stages of a real estate transaction involve many concurrent
events, often with short timelines. A buyer’s inspection contingency, for
example, is usually happening during the early stages of the transaction
when the property is probably receiving the most attention from
potential buyers. From the seller’s perspective, this is an opportune time
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to solicit secondary offers so the seller knows
exactly what negotiation leverage the seller has
when responding to the results of the buyer’s
home inspection. Even later in the transaction,
if a buyer is working through financing or an
appraisal, letting a buyer submit a secondary
offer is not detrimental to the seller and
can give the seller some options if the seller
needs to respond to the buyer’s financing
unavailability or a low appraisal. If the seller
is not interested in maintaining a channel of
ancillary negotiations, the seller can reject any
secondary offers.
Example #2
Example #1
Resources
A seller accepts an offer that is almost at
list price with an inspection contingency that
gives the seller the right to cure. A few days
later, a buyer submits a secondary offer that
is above list price with some contingencies. If
the primary buyer issues a notice of defects,
the seller can choose to cure the defects and
continue going forward with the primary buyer,
or the seller could refuse to cure the defects
making that offer null and void. With the
primary buyer out of the way via the inspection
contingency, the seller can now elevate the
secondary offer to primary position and move
forward with a more beneficial offer.
EDITORIAL STAFF
Author
A seller accepts a primary offer that has
a home inspection contingency. After the
inspection, the buyer proposed an amendment
requesting a lower purchase price. If there are
not any secondary offers, the seller may feel
obligated to accept the amendment or risk
the buyer issuing a notice of defects. If there
are secondary offers with favorable terms, the
seller may want to force the buyer to issue a
notice of defects making the offer null and void
if there was no right to cure or triggering the
seller’s right to cure if there was a right to cure.
WRA LegalTalks video, "Closing of Buyer’s
Property Contingency and Secondary Offers,"
with Jennifer Lindsley at www.wra.org/
LegalTalks/BuyerContingency.
Jennifer Lindsley
Production
Lauren B. Hubbard
ASSOCIATION MANAGEMENT
Chairman
Erik Sjowall
President & CEO
Michael Theo, CAE
CONTACT INFORMATION
Wisconsin REALTORS® Association
4801 Forest Run Road, Suite 201
Madison, WI 53704
608-241-2047
800-279-1972
LEGAL HOTLINE
Ph: 608-242-2296
Fax: 608-242-2279
Web: www.wra.org
The information contained herein is believed accurate
as of March 1, 2017. The information is of a general
nature and should not be considered by any member
or subscriber as advice on a particular fact situation.
Members should contact the WRA Legal Hotline with
specific questions or for current developments.
Reproduction, use or inclusion of this material in other
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WRA Legal Update © 2017
Wisconsin REALTORS® Association
Page 7
Legal Update, March 2017
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