Property Management
A Wisconsin property management agreement is a contract between the property owner and the:
ATenant
BProperty management firm/broker✓ Correct
CLocal municipality
DDSPS
Explanation
A property management agreement is a contract between the property owner (principal) and the property management firm/broker (agent), authorizing the firm to manage the property.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
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