Wisconsin REALTORS® Association: Line by Line Forms Training

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Line by Line Forms Training

Are drafting errors causing transaction delays? The Line by Line online video series gives you the tools to draft forms properly for swift, seamless closings. With WRA attorneys Wendy Hoang and Jennifer Lindsley as your guides, these in-depth videos provide the insights you need to navigate real estate forms with confidence, reducing the risk of errors and misrepresentation.

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Member offices can gain full access to the Line by Line series for dually licensed nonmembers. Company subscription fee: $1,500 annually plus tax.

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Forms included

WB-11 Residential Offer to Purchase (2020)

Topics

Review how to satisfy the Financing Commitment Contingency.
Consider how seller financing might influence terms in a transaction.
Evaluate how to use the Right to Cure provision with the Appraisal Contingency.
Explore all the ways to use the Bump Clause with contingencies.
Streamline your drafting with the pre-printed Radon Testing Contingency.

WB-14 Condominium Offer to Purchase

Topics

Explore the Condominium Offer to Purchase and all the documents that can be part of a purchase transaction.
Learn how to determine exactly what’s included in a condominium sale.
Discover how important deadlines for condominium documents can affect your transactions.
Master the different purposes of an amendment and notice.
Review how to describe a unit’s common elements and limited common elements.

WB-28 Cooperative Agreement

Topics

Learn when and how you can cooperate with licensees from other states.
Review the Wisconsin firm’s role when cooperating with out-of-state licensees.
Explore how to use the WB Cooperative Agreements to control an out-of-state licensee’s participation in a transaction.
Consider alternatives to cooperation such as referrals.
Understand how to best serve the parties when working with an out-of-state licensee.

WB-24 Option to Purchase

Topics

Learn how to use the WB-24 Option to Purchase to lock in a buyer’s right to buy a property without the obligation to actually purchase it.
Review how an option differs from an offer when it comes to the timing of inspections, testing and financing.
Explore scenarios when an option is a better fit than an offer for your buyer.
Consider how to create a rent-to-own scenario using an option with a lease.
Highlight when a buyer would want to record an option or record a document evidencing the option.

WB-2 Farm Listing Contract and WB-42 Amendment to Listing

Topics

Learn how to use the WB-2 Farm Listing Contract to describe the farm you are listing.
Explore how to accurately identify government programs that might restrict land use on a farm.
Consider how use value taxation might affect a transaction.
Review the definition of fixtures in relation to farm equipment and crops.
Discuss when post-closing occupancy might occur if there are existing crops on the property.

WB-12 Farm Offer to Purchase

Topics

Identify the complexities an agent may encounter in a farm transaction including use restrictions from government programs.
Expand your understanding of fixtures and personal property in the context of a farm where equipment and animals may be involved.
Consider how zoning is going to affect your buyer’s intended use of the property.
Understand the importance of identifying rental agreements that may affect the sale.
Review how to use contingencies to investigate water and waste treatment systems.

WB-6 Business Listing Contract – Exclusive Right to Sell

Topics

Explore the WB-6 Business Listing Contract.
Identify how to make sure your seller has the ability to sell the business.
Consider including or excluding the real property is going to affect the transaction.
Review how to identify items of personal property included in a sale.
Compare which terms an agent can amend with and without permission from a supervising broker.

WB-16 Offer to Purchase – Business with Real Estate Interest

Topics

Learn how to draft an offer on a business that includes real estate.
Identify personal and real property a buyer wants to purchase.
Consider the tax implications for how personal and real property are identified in the offer.
Determine when a buyer needs to consult tax advisers and attorneys in a business transaction.
Compare different real estate interests that may be conveyed, including owned and leased property.

WB-17 Offer to Purchase – Business Without Real Estate Interest

Topics

Learn how to draft an offer on a business that does not include real estate.
Identify personal property a buyer wants to purchase or lease.
Consider the tax implications for how personal property is identified in the offer.
Determine when a buyer needs to consult tax advisers and attorneys in a business transaction.
Compare leases that may be transferred or terminated in the sale.

WB-35 Simultaneous Exchange Agreement

Topics

Learn the process for engaging in a simultaneous exchange.
Consider whether a simultaneous exchange or a deferred exchanges is right for your parties.
Identify when to use the WB-35 Simultaneous Exchange Agreement.
Evaluate those exchanges for which the WB-35 Simultaneous Exchange Agreement is not appropriate.
Review drafting tips for all the WB forms.

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