The Right to Cure...Yes....We Believe In It ...

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

      In Wisconsin, one part of the Offer to Purchase a property gives the Seller(s) the "Right to Cure". Buyers when writing their offers can choose to give it ....or not. What this means is...If, as the result of an inspection by a licensed home inspector, there is an issue that requires replacement or repair, the Seller can fix the problem. If the Buyer chooses not to give the Seller the Right to Cure...the Buyer can walk from the contract and the Seller loses valuable time on the market for an issue that may well have been a simple repair.

   Agents who argue in favor of NOT giving the Seller the right to cure say this is a protection for the Buyer that the Seller will not have Uncle Harry rewire the house .....they believe they are avoiding the horrors if an unlicenced tradesperson doing work for which they are not qualified.

   The remedy to giving the Sellers the right to cure we believe is quite simple. After the home inspection an example of an amendment written by the Buyer could be: "Seller at Seller's expense to hire a licensed Wisconsin electrician to repair or replace wiring in the lower level laundry room to meet current code compliance. Seller(s) to provide a paid invoice and lien waiver 72 hours prior to closing. The repair has been made professionally, the Seller has not lost time on the market...and everyone should be satisfied that the problem was corrected.

        No worry of Uncle Harry's mistakes or the Seller cutting corners on repairs....and the Buyer should be content knowing the issue has been resolved.

      Every inspection is likely to find something...very often unknown to the homeowner. We believe that negotiating in good faith means negotiations of repairs and replacements...in a workmanlike manner by qualifies tradespeople.

     This has been a post brought to you in the spirit of cooperation and completing a transaction for the greatest satisfaction of all parties by Sally K. & David L. Hanson, Broker Associates with EXP Realty LLC honored to be of service for all things real estate in southeastern Wisconsin.

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Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


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Rainmaker
3,282,915
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Great idea for every state Jay Markanich the only issue we can see is that there are quite a number of trades here that do not require licenses.

Oct 17, 2019 02:22 AM #2
Rainmaker
1,853,924
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Licenses are required here for many professions - realtors and home inspectors included.  But for many trades it is voluntary unless the company is incorporated or an llc.  So requiring a licensed tradesman to do a repair avoids schmuck work inherited by a new buyer.

Oct 17, 2019 03:11 AM #3
Rainmaker
1,853,924
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

I just looked and locksmith licenses are not required in Wisconsin!  Wow.  A locksmith here cannot enter someone's house without being licensed and he has to show that license at the door!

I have two locksmith posts that point out the dangers of hiring an unlicensed locksmith.

Oct 17, 2019 03:13 AM #4
Rainmaker
1,853,924
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Trades are licensed by the Virginia DPOR.  If you have a complaint and call them they have teeth!  Before hiring someone you can check the DPOR for any disciplinary actions against the company.  They are all listed if there are some.  It's a good way to evaluate a company before hiring them.

Oct 17, 2019 03:15 AM #5
Rainmaker
5,079,311
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

good morning, Sally K. & David L. Hanson how foolish of a buyer and buyer's agent to not go forth with a deal because of repairs that could easily be done by licensed professionals with proper permitting on file, if needed....  most homes require something.....there are no perfect homes, unless they're owned by folks in the trades....

Oct 17, 2019 03:15 AM #6
Rainmaker
1,853,924
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Barbara - ha!  I do inspections all the time on homes owned by well-known contractors and they are sometimes a mess!  But you're right, for the most part.

Oct 17, 2019 03:18 AM #7
Rainmaker
3,337,058
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Sally. The best hope for a good job is a licensed contractor, but not a guarantee. Enjoy your day!

Oct 17, 2019 05:47 AM #8
Rainmaker
3,838,765
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Sally K. & David L. Hanson,

In Texas we have a option period and any repair requests must be done by a professional. If the seller and buyer can't come to terms on repairs the buyer can terminate the contract and receive their earnest money (during the negotiated time frame of the option period).

Oct 17, 2019 06:06 AM #9
Rainmaker
3,667,151
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Sally. I think this is terrific. You explained it well. I believe you have done your readers a service.

Oct 17, 2019 06:07 AM #10
Rainmaker
2,618,324
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Our contract allows for cures to be issued as well, but I haven't used them much at all.  I recall one time I used it, but I waited to issue the cure after it was too late for them to actually be able to cure the situation, which was definitely to the benefit of my clients.

Oct 17, 2019 08:02 AM #11
Rainmaker
1,253,192
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Sally K. & David L. Hanson

You always provide good information for the real estate community in the Wisconsin area. This is no exception. Cure notices should be rare indeed but they can happen. 

Oct 17, 2019 08:33 AM #12
Rainmaker
3,207,079
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Home and Condo Specialists

This is why buyers and sellers should be working with The Hanson's in their Real Estate journey in Wisconsin. Good message here Sally!

Oct 17, 2019 12:05 PM #13
Ambassador
3,842,784
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Sally and David it sense to me, and it can be a win win for everyone.

Oct 17, 2019 12:24 PM #14
Rainmaker
5,460,720
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for sharing your experience and your advice.

Oct 17, 2019 01:10 PM #15
Ambassador
3,930,961
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Sally and David- once again showing that real estate is regional. Your "cure" is a good one!

Oct 17, 2019 02:58 PM #16
Rainmaker
2,971,927
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Sally.

Same thing here, just worded differently.  Make it a great day

Oct 18, 2019 01:18 AM #17
Rainmaker
3,391,376
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Sally and David - once again, your knowledge of Wisconsin real estate proves to be quite beneficial to those who are fortunate to work with you.  You inform as to the options, the reason behind the language and the ramifications of choosing or not choosing certain paths.  Good job.  

Oct 18, 2019 09:03 AM #18
Rainmaker
343,414
Dana Basiliere
Rossi & Riina Real Estate - Williston, VT
Making deals "Happen"

That is a good idea.  I have not seen the "right to cure" clauses in our contracts.  I will be having a discussion with my partners on this one.  Some buyers/buyer's agents will object to loosing the "get out of jail free" card. 

Oct 18, 2019 10:44 AM #19
Ambassador
4,045,989
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Sally and David:

Interesting how things are done differently there regarding repairs. Great education for buyers in WI so they understand the issues.

Enjoy your weekend!

Jeff

Oct 18, 2019 02:18 PM #20
Rainmaker
1,551,373
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

There are professionals and there are professionals - but I expect in most cases a professional is better than uncle Harry.

It does amaze me in reading posts and comments that in some places permits are required for almost everything. That would not go over well in North Idaho.

Oct 19, 2019 03:27 PM #21
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Rainmaker
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Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
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