Home Buying in Milwaukee>Question Details

emmalina60, Home Buyer in Milwaukee, WI

bad home inspection question

Asked by emmalina60, Milwaukee, WI Thu Dec 12, 2013

Our inspection went bad, in a dual agency situation. We went in tonight to submit our notice of defects to cancel the contract, but agent provide us a wb-45 "cancellation agreement & mutual release" instead. Stating the sellers just want to "move on". We signed, but it's not effective yet until all parties sign. Are we still able to provide notice of defects wb-41? The agent said WB-45 is basically the same thing, but it doesn't seem right and what happens if the sellers don't sign the wb-45 until AFTER our contingency period is over?

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Answers

6
Kris gives a great explanation. Take her wisdom with you.
1 vote Thank Flag Link Fri Dec 13, 2013
You are finding out why dual agency is not a good idea. Submit both forms and get your money back.
0 votes Thank Flag Link Fri Dec 13, 2013
Have the agent submit both. Why would he/she? Don't know about Wisc law but I do know that a lot of agents tell their sellers the "don't want to know what's wrong with the property" because they will have to disclose it later. I don't know what a wb-45 is but I'm guessing it states what's wrong with the home. My guess is that they don't want to know and that's why she says they "just want to move on."

Don't want to rub salt on the wound but stay out of dual agency situations. This might have been handled differently if their agent wasn't also your agent.

Good luck.
0 votes Thank Flag Link Fri Dec 13, 2013
Good Morning!

Yes, I agree that giving a proper Notice of Defects (WB-41) as well as the Cancellation and Mutual Release agreement is necessary. The WB-41 notifies the seller that you are NOT waiving the home inspection contingency and you are not moving forward with the transaction due to the defects disclosed during the home inspection. This should be delivered to the seller before the home inspection contingency period expires. The cancellation agreement is typically handed in along with the Notice of Defects.

I'm not a lawyer...just friendly advice from someone who works with many buyers and generally represents them as a Buyer's Agent!

You can click the "Contact" link below my name if I can be of further help!

Best,

Kris Plechaty - First Weber Group Realtors
email: kplechaty@firstweber.com
0 votes Thank Flag Link Fri Dec 13, 2013
I agree with Bill Eckler. What is one more signature, just to be safe. You should have had a buyer's agent on your side to stick up for you.

Peter D.
0 votes Thank Flag Link Fri Dec 13, 2013
A quick call to a real estate attorney would clear this up for you....

Your signature within the contingency period is of greatest importance. What harm would there be to submit both WB-41 and WB-45? This way all of your bases would be covered.

Good luck,

Bill
0 votes Thank Flag Link Fri Dec 13, 2013
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