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The Department of Regulation and Licensing (DRL) recently revised the following approved forms:
WB-11 Residential Offer to Purchase
WB-40 Amendment to Offer to Purchase
WB-41 Notice Relating to Offer to Purchase
WB-42 Amendment to Listing Contract
WB-44 Counter Offer
WB-46 Multiple Counter Proposal
WB-47 Amendment to Buyer Agency/Tenant Representation Agreement
The mandatory use date for all forms is March 1, 2010. Printed forms are expected to be available by December 1 while an update for ZipForm is likely early- to mid-December. Any changes in release schedule will be posted here.
In addition to DRL approved forms, the following WRA drafted forms will change in coming weeks.
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WRAADA |
Addendum A to the Offer to Purchase |
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WRAADO |
Occupancy Agreement Addendum to Offer |
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WRACR |
Condition Report (2 pages) |
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WRASCR |
Seller’s Real Estate Condition Report (3 pages) |
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WRAF |
Real Estate Condition Report – Farm |
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WRARCC |
Seller Disclosure Report – Commercial |
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WRARV |
Seller Disclosure Report – Vacant Land |
Addenda O and A are being revised to reflect the removal of the occupancy provision from the new WB-11 and to more closely match other provisions in the new form. Changes to the condition/disclosure reports are necessary to include the new farmland preservation conversion fee required as of January 1, 2010 and to match the list of disclosure items to those listed on the new offer to purchase.
The WRA drafted forms will be available for purchase and as an update to ZipForm in December.
Why new forms now?
The current WB-11 offer was last revised in the late 1990s and became mandatory for use on November 1, 1999. Although the existing offer form has generally served REALTORS® well, the time has come for an update. These changes are intended to make the forms the best that they can be by clarifying language, creating better definitions and fixing provisions that do not work well in day-to-day practice – in other words, improving the forms for the benefit of consumers and licensees alike.
How are the new forms developed?
The WB forms are prepared and approved for use by the DRL. Prior to approval, drafts are reviewed by the Wisconsin REALTORS® Association Forms Committee, chaired by REALTOR® Dwight Kruse, and comments are forwarded on to the DRL. Once the DRL forms are finalized, WRA drafted forms are examined to see if changes are warranted.
Helpful Tools
Here are some tools to help you learn about the new forms.
- A line-by-line video
explanation of form changes and sample forms will be available November 13.
- Watch for Legal Update 09.11, available soon.
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