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.