Contracts
A Wisconsin WB-11 offer includes an inspection contingency with a 10-day inspection period. If the buyer fails to order an inspection within those 10 days, the contingency:
AExtends automatically for another 10 days
BIs waived, and the buyer must proceed or be in breach✓ Correct
CConverts to a general due diligence period
DRequires DSPS approval to extend
Explanation
If the buyer fails to act within the contingency period specified in the WB-11, the contingency is deemed waived. Failure to exercise rights within stated deadlines can result in losing those rights.
Related Wisconsin Contracts Questions
- In a Wisconsin WB-11 offer, the term 'contingency' allows the buyer to:
- A Wisconsin buyer presents an offer with a personal property inclusion list specifying the refrigerator, washer, dryer, and basement freezer. The seller crosses off 'basement freezer' before signing. This is a:
- Liquidated damages in a Wisconsin real estate contract typically refers to:
- When a Wisconsin seller accepts an offer but communicates the acceptance after the offer's deadline, the result is:
- A Wisconsin buyer exercises their right of rescission under a financing contingency. The seller is entitled to:
- Under Wisconsin law, a 'merger clause' (integration clause) in a real estate contract means:
- A Wisconsin WB-11 offer that is rejected by the seller becomes:
- The Wisconsin WB-11 Residential Offer to Purchase becomes a binding contract when:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →