Wisconsin License Law
A Wisconsin licensee acting as a buyer's agent has a duty of disclosure that requires them to disclose to the buyer:
AThe seller's bottom-line price if the seller told the listing agent
BAll material facts that affect the property's value or desirability✓ Correct
COther offers the seller has received
DThe seller's personal financial situation
Explanation
A buyer's agent in Wisconsin must disclose all material facts known to them that affect the property's value or desirability, including known defects, regardless of the seller's wishes.
People Also Study
Related Wisconsin Questions
- Under Wisconsin agency law, a licensee's duty of 'disclosure' to their client requires sharing information that:Agency
- Under Wisconsin Wis. Stat. § 452.133, a Wisconsin licensee's duty to disclose material adverse facts applies:Agency
- Under Wisconsin law, an agent must disclose material adverse facts to:Agency
- The Wisconsin Seller's Disclosure Report requires sellers to disclose known environmental concerns. Failure to disclose known issues can result in:Environmental
- A Wisconsin listing agent's duty of 'disclosure' to the seller requires them to:Agency
- Under Wisconsin law, a real estate licensee must provide the agency disclosure at:Wisconsin License Law
- Under Wisconsin law, a real estate licensee who wishes to place a 'For Sale' sign on a listed property must:Wisconsin License Law
- The Wisconsin Condominium Ownership Act requires that buyers receive a condominium disclosure packet:Property Ownership
Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
Promissory NoteA written promise to repay a loan under specified terms — the borrower's personal financial obligation in a real estate transaction.
State-Specific Concepts
License Law
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →