Contracts
A Wisconsin buyer's financing contingency in the WB-11 protects the buyer by:
AGuaranteeing loan approval from any lender
BAllowing the buyer to void the contract if they cannot obtain financing under specified terms✓ Correct
CRequiring the seller to help finance the purchase
DExtending the closing date indefinitely
Explanation
A financing contingency allows the buyer to void the offer and recover earnest money if they are unable to obtain a mortgage commitment under the terms specified in the contract.
Related Wisconsin Contracts Questions
- A Wisconsin seller signs an exclusive right-to-sell listing but then sells the property themselves to a neighbor without the broker's involvement. The broker is entitled to:
- A Wisconsin seller who wants to include personal property in the sale (such as a riding lawn mower) should:
- In a Wisconsin WB-11 offer, the term 'contingency' allows the buyer to:
- A Wisconsin real estate purchase contract is assignable unless:
- The Wisconsin WB-11 provides that if the inspection reveals defects, the buyer may:
- A Wisconsin buyer includes a 'lead paint contingency' in a pre-1978 home purchase, allowing them to void the contract if:
- An option contract in Wisconsin gives the optionee the right to:
- A Wisconsin buyer who includes a 'property condition contingency' in their offer is agreeing that:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →