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December 29th, 2022 |

5 Things to Check before Buying Property in Wisconsin

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Buying a property is a major investment, thus it must be well planned to avoid future trouble to the buyer. In the care of a legal team, you’ll be sure to know exactly what to check before buying a property in Wisconsin.

The detailed examination of all documents and verification of information relevant to the property is all part of the legal duties your attorney takes care of for you. Doing the transaction properly will ensure that your investment brings security and prosperity.

McLario Helm Bertling & Spiegel are real estate lawyers in Menomonee Falls WI with the necessary experience in real estate transactions. They will provide thorough legal support for your purchase and ensure you do your due diligence well.

Five Things to Check Before Your Purchase

1. Verification of Title and Ownership of the Seller

The buyer and his legal team need to undertake due diligence to confirm the existence of the title, free from encumbrance, with the seller. The seller may be asked to provide the following items:

• All title documents of the property, and original title if possible.
• The nature of title (leasehold, development right, freehold.
• All title documents duly stamped and registered with the jurisdictional sub-registrar of assurances office.
• Information on pending or past litigation and any other legal records.
• Show that it is registered in the name of the seller.
• In the scenario where the seller claims development rights to the property, the seller must present the development agreement, power of attorney, executed by the owners favoring the seller.
2. Conversion and Land-use Permissions and Construction

Urbanization is on the rise leading to require conversion of property for non-agricultural developments. The buyer must make sure that his/her intended use for the property satisfies the zoning requirements and other development codes. The construction plan must adhere to the requirements by local municipal authorities.

3. Status of Tax Payment

It is necessary to check with municipal authorities to confirm that the seller paid property tax is there are no tax liens on the property.

4. Physical Survey and Access to the Property

The survey will detail the measurements and extent of the property. It is advisable to determine access to the property and demarcate its boundaries.

5. Occupancy Certificate

It is very important and mandatory that the seller obtain the occupancy certificate from the corresponding authority. Lack of this document exposes the buyer to penalty under building bylaws.

Be an Informed Buyer

Being an informed buyer can be aided by hiring legal experts who specialize in real estate transactions. McLario Helm Bertling & Spiegel will help you buy your property with the right documentation in place so you can enjoy your new purchase. Meeting with real estate lawyers in Menomonee Falls WI is one of the first steps towards a bright future in your new property.

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