Environmental
When selling a Wisconsin lakefront property, a licensee should advise the seller to disclose:
AThe lake's fish population
BAny known shoreline erosion, water quality issues, or dock permit limitations✓ Correct
CThe history of neighboring properties' values
DFuture plans for the lake by the state
Explanation
Material adverse facts about a lakefront property include known shoreline erosion, water quality problems, and limitations on dock permits — all of which materially affect value and desirability.
People Also Study
Related Wisconsin Questions
- Under Wisconsin law, an agent must disclose material adverse facts to:Agency
- A Wisconsin buyer's agent MUST disclose to the buyer all known material adverse facts about a property. These include:Agency
- Under Wisconsin Wis. Stat. § 452.133, a Wisconsin licensee's duty to disclose material adverse facts applies:Agency
- A riparian owner in Wisconsin owns land along a navigable lake. Their water rights include:Property Ownership
- Wisconsin requires that all advertising by a real estate licensee include: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:Wisconsin License Law
- A Wisconsin property manager who fails to disclose a known material defect in a rental unit to prospective tenants may be liable for:Property Management
- A Wisconsin real estate licensee who represents a buyer must disclose their licensee status when:Wisconsin License Law
Key Terms to Know
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.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
Study This Topic
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →