A person licensed to arrange the buying and selling of real estate for a fee. A real estate broker acts as an intermediary between the parties selling and buying the real estate. Real estate brokers can also be called real estate salespersons, and the people who assist them (who are generally not required to be licensed) are generally called real estate agents.
A Wisconsin Contract of Sale of Commercial Property with No Broker Involved is a legally binding document that outlines the terms and conditions of the sale of commercial property in Wisconsin without the involvement of a real estate broker. This type of contract is designed to facilitate the direct transaction between the seller and the buyer, eliminating the need for a third-party intermediary. This contract contains specific details and provisions related to the sale of the commercial property, ensuring both parties have a clear understanding of their rights and responsibilities. It is important to note that there may be different types of Wisconsin contracts of sale of commercial property with no broker involved, depending on the specific circumstances and needs of the parties involved. Some relevant keywords for this topic include: 1. Commercial property: Refers to real estate that is used for business activities or intended for business purposes, such as office buildings, retail stores, industrial facilities, or warehouses. 2. Sale agreement: A legally binding contract that sets out the terms and conditions of a property sale. 3. Wisconsin: This refers to the state where the commercial property is located, and specific laws and regulations of Wisconsin might apply to this contract. 4. No broker involved: Highlights that this contract is intended for direct transactions between the seller and the buyer without the involvement of a real estate broker. 5. Terms and conditions: Specifies the rights and obligations of both parties, including the purchase price, payment terms, contingencies, closing date, and other relevant provisions. 6. Purchase price: The agreed-upon amount that the buyer will pay the seller for the commercial property. 7. Contingencies: Conditions that must be met for the sale to proceed, such as obtaining financing, conducting inspections, or obtaining necessary permits or approvals. 8. Closing process: The final stage of the transaction where legal ownership of the property is transferred to the buyer, and all financial obligations are settled. 9. Due diligence: The process of investigating and evaluating the property's condition, title, and any potential issues or liabilities before completing the purchase. 10. Earnest money: A deposit made by the buyer to demonstrate their seriousness and commitment to the transaction, which is typically applied towards the purchase price at closing. In addition to these keywords, it is essential for both the seller and the buyer to seek legal advice when drafting or reviewing a Wisconsin Contract of Sale of Commercial Property with No Broker Involved to ensure compliance with applicable laws and to protect their interests.
