What contractual form should a broker use in an in between situation?
A. Unless allowed by Wis. Adm. Code section RL 16.04 (2), (3), a licensee is otherwise required to use approved forms when acting as an agent or a party in a real estate or business opportunity transaction. However, in certain instances an approved form may be very close to providing the necessary terms and conditions for the real estate transaction in question yet doesn’t exactly provide a legal blueprint to encompass the parties understanding. In those instances a form should be selected that requires the least modification, and the rules for modification contained in Wis. Adm. Code section RL 16.06 should be followed.
Related Questions
- Form 1099-B, Proceeds from Broker and Barter Exchange Transactions will be mailed to shareholders who have sold any of their fund shares during the year. (See the answer to the question: Why did I receive Form 1099-B, and where do I report the information?
- What contractual form should a broker use in an in between situation?
- How is a Business Broker different form a Real Estate Agent?
