Wisconsin Real Estate Litigation: Common Home Buyer Disputes

 Posted on July 12,2018 in Real Estate

Buying or selling a home can be a lengthy, complicated process, requiring both parties, their real estate agents, and their attorneys to meet a variety of legal and financial requirements. Unfortunately, disputes can arise in which a party fails to abide by the terms of the purchase contract, and real estate litigation may be necessary to resolve these matters. Consider the following common issues that can lead to legal disputes in real estate transactions:

• Failure to disclose - Under Wisconsin law, a seller is required to fully disclose any known defects that affect the value of a property, present safety issues for those who use it, or result in a shortened lifespan for the premises. Failure to disclose required information may result in the buyer rescinding the purchase contract. Furthermore, in some cases, a seller may be required to pay damages to the buyer.

• Zoning issues - Following the signing of the purchase contract, legal issues affecting the property may arise, such as disputes over boundaries or property lines, zoning regulations that affect how a property can be used, or easements on a property. Litigation may be required to determine how these issues will impact the sale of the property.

• Unresolved home inspection issues - After a buyer completes a home inspection, the seller may be asked to make certain repairs or address issues that are discovered. If a seller refuses to cure or repair these issues, this may result in additional negotiations, or disputes that must be settled through litigation.

• Contingencies - A buyer may ask to include certain contingencies in the purchase contract, such as the requirement that they sell their home or obtain financing prior to the date of closing. If they fail to meet these requirements and attempt to rescind the contract a result, a seller may dispute whether they are able to do so.

• Breach of contract - If a buyer or a seller wishes to back out of a real estate transaction after signing a purchase agreement for reasons that are not allowed in the agreement, this is considered a breach of contract. In these cases, litigation may be required to determine the proper remedies, such as paying a penalty or being required to go through with the sale. 

Contact a Milwaukee Real Estate Lawyer

If you have any questions about how to resolve disputes during a real estate transaction, the attorneys of Gimbel, Reilly, Guerin & Brown, LLP can help you understand your rights and work with you to reach a resolution that protects your rights and your financial interests. Contact our Milwaukee, WI real estate litigation attorneys at 414-271-1440 to arrange a consultation.

Sources:

https://www.realtor.com/advice/buy/sue-false-information-given-sellers/

http://www.homebuyinginstitute.com/purchase-contract-contingencies.php