Environmental
A Wisconsin property seller who has knowledge that the property was used as a dry-cleaning establishment in the past should disclose this because:
ADry cleaning equipment has historical value
BDry cleaning operations commonly used perchloroethylene (PERC), a chlorinated solvent that is a serious groundwater contaminant✓ Correct
CDATCP requires disclosure of all commercial uses
DDry cleaning uses only biodegradable solvents
Explanation
Perchloroethylene (PERC/PCE) used in dry cleaning operations is a persistent groundwater contaminant and known carcinogen; former dry-cleaning sites may have significant subsurface contamination requiring disclosure.
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Key Terms to Know
Capitalization Rate (Cap Rate)
A rate used to estimate the value of income-producing property, calculated as Net Operating Income divided by property value.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
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