Under Wisconsin Statutes Chapter 709, which of the following transactions is NOT exempt from the Real Estate Condition Report requirement?
Correct Answer
C) A sale of a three-unit residential building by an individual owner to an unrelated third-party buyer
A sale of a three-unit residential building by an individual owner to an unrelated third-party buyer is a standard arm's-length transaction that falls squarely within the scope of Wisconsin's RECR requirement under Chapter 709. It involves a 1–4 unit residential property sold to a buyer with no special relationship to the seller, and none of the statutory exemptions in § 709.01(2) apply. This transaction is therefore NOT exempt and requires a completed RECR.
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Related Topics & Key Terms
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A stigmatized property is one that has an undesirable reputation due to events that occurred on the property or nearby, such as a murder, suicide, alleged haunting, or proximity to a registered sex offender. The stigma is psychological, not physical.
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