Who needs a WB-44 Form?
WB-44 is a form approved by Wisconsin Real Estate Examining Board as a Counter-Offer to Residential Offer to Purchase (Form WB-11). It is to be used to a real estate broker acting as an agent of one of the parties to a potential residential property purchase and sale transaction. A Party initiating the submission of the Counter-Offer can be either of the parties: a Seller or a Buyer.
What is Counter-Offer WB-44 Form for?
Counter-Offer is supposed to be made on paper in a legally binding document to enable either of the parties state the provisions indicated in the Offer to Purchase or a previous Counter-Offer they disagree with and suggest their ideas how this can be handled to reach an agreement and close the deal.
Is Counter-Offer accompanied by other forms?
The form as such does require an accompaniment, however, logically it should reference the Offer to Purchase and an already-made Counter-Offer. (In the latter case, it serves as Counter-Offer to a Counter-Offer).
When is Wisconsin Real Estate WB-44 Form due?
The due dates of submission and acceptance or rejection are to be discussed and agreed upon by the parties to the potential transaction.
How do I fill out Counter-Offer WB-44 Form?
The Counter-Offer must define the following details:
- Number of Counter-Offer
- Indication of the party filing the WB-44 Form
- Date of the Offer to Purchase
- Address of the real estate
- Terms and/or conditions that are subject to amendments by the filing party
- Name of a real estate agent or firm drafting the Counter-Offer
- Party making the Counter-Offer
- Party Accepting the Counter-Offer (or its rejection)
Where do I send Counter-Offer WB-44 Form?
The Counter-Offer is to be drafted in two original copies, one is retained by the party making the Counter-Offer, the other is to be delivered to the other Party. A copy is to be retained by the agent drafting the document.