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Under Wisconsin's WB-11 Residential Offer to Purchase, how is the deadline for a seller to cure title defects typically established?

Correct Answer

B) A negotiated deadline, often tied to the closing date, by which the seller must resolve any title defects

Under Wisconsin's WB-11 Residential Offer to Purchase, the title contingency does not impose a fixed statutory cure period. Instead, the parties negotiate a deadline — typically tied to the closing date — by which the seller must cure any title defects identified by the buyer. If the seller is unable to deliver marketable title by the agreed deadline, the buyer generally has the right to terminate the contract and receive a return of earnest money. Licensees should always refer to the current DSPS-approved WB-11 form language when advising clients on title contingency timelines.

Answer Options
A
A fixed 10-business-day period that begins upon the buyer's written notice of defects
B
A negotiated deadline, often tied to the closing date, by which the seller must resolve any title defects
C
A fixed 30-calendar-day period set by Wisconsin statute regardless of the closing date
D
No cure period exists; the buyer must accept title in its current condition

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Related Topics & Key Terms

Related Topics:

marketable titletitle contingencyWB-11 Offer to Purchasetitle insuranceclosing date

Key Terms:

title defectsmarketable titleWB-11cure deadlinetitle contingencyclosing date
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