This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Wisconsin Mobile Home Purchase Agreement
Category:
State:
Multi-State
Control #:
US-02474BG
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out Mobile Home Purchase Agreement?
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FAQ
How much earnest money is required in Wisconsin? There isn't any kind of legal requirement when it comes to how much earnest money to put down in Wisconsin, but most sellers will want to see at least 1 percent of the purchase price.
While a contract, to be valid, must have consideration, the earnest money is not consideration. Earnest money is a good faith deposit and is not necessary to have a valid contract.
Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.
Ing to Wis. Stat. § 101.9203(4), a manufactured home title is not needed when: The owner of a manufactured home that is situated in this state or intended to be situated in this state is not required to make application for a certificate of title under s.
If the buyer's contingencies cannot be met, for example, the buyer can't get the financing described in the financing contingency, the buyer may be legally entitled to get the earnest money back. If the buyer and seller get into a dispute over the earnest money, they must work it out or go to small claims court.
Be sure to include at least the following information: Mobile home description, including VIN, serial number, make, model, and year. Buyer and seller names, addresses and contact information. Sale date. Sale price, including any taxes. Sale conditions and terms, including warranties or ?as is? status.
Earnest money is typically a small percent of the purchase price, 1-2% or higher if the buyer wants to indicate that they are more serious about purchasing the property. The buyer will give this money to a 3rd party, often one of the real estate agents, for safe keeping.
Every situation is different, but broadly speaking, the seller gets to keep the earnest money if the buyer decides not to go through with the home purchase for reasons not specified as part of the contract.