Monroe, WI

Usually when a buyer is purchasing property or a home, the seller provides a form called a real estate condition report. The seller is legally required to make no mis-representations about the property and its condition.

Sometimes, though, the condition report is not filled out or the contract contains a provision that states "The buyer accepts the property as-is, where-is. Seller makes no warranties, expressed or implied." This happens most frequently in the case of bank-owned properties (foreclosures) or when a personal representative fills out the documents for an estate, but it can also happen in regular transactions as well.

Buyers need to be very aware of what they are signing when they agree to an as-is, where is statement in a contract.

When a buyer agrees to an as-is, where is statement in the contract, they effectively lose their right to sue the seller later for mis-representation. This statement implies that the buyer is purchasing a property that is not in perfect condition and cannot rely on the seller to diclose any or all defects. Wisconsin Court of Appeals recently heard a case regarding a real estate transaction where the seller assured the buyer that the property had a clean environmental analysis, but where there was soil contamination. The buyer signed a contract with an as-is, where is provision. Because of the provision that the buyer agreed to, the court ruled that the buyer was in breech of contract when attempting to back out of the deal.

Buyers should tread carefuly with any offer that has an as-is, where is provision attached. Try to obtain any inspections or testing that could help determine condition prior to submitting an offer. Perfect properties rarely come with the as-is, where is language, so keep buyers need to be aware of any potential hidden risks.

We now have sidewalks but construction continues for Monroe's square. Parking is still limited on the square but the front door is now accessible. Thank you for putting up with this inconvenience.

From Scott Larson of Towne Square Realty in Monroe, Wisconsin

“Your Realtor of the Region”

E- Mail scott@greencountyhomeguide.com

On the web at greencountyhomeguide.com

I think you will be surprised how affordable the Dairyland is,

so come to my land of cows and plows and visit for a day, but stay for a lifetime

608-2124-9844 Direct

TIME IS RUNNING OUT!!!

Remember potential home buyers there is an $8,000 credit available to first time homebuyers.

Brief details:

First-time home buyers or purchasers who have not owned in 3 years qualify.

Home must be bought between Jan. 1st and Dec. 1st 2009 NOTE ( You must close before Dec. 1st )

The $8,000 credit will either offset taxes you owe or trigger a refund on your tax returns

To learn more just log on my website and follow the links

From Scott Larson of Towne Square Realty in Monroe, Wisconsin

“Your Realtor of the Region”

E- Mail scott@greencountyhomeguide.com

On the web at www.greencountyhomeguide.com

I think you will be surprised how affordable the Dairyland is,

so come to my land of cows and plows and visit for a day, but stay for a lifetime

608-2124-9844 Direct

August 28 already. Back to school time is here. Labor Day is just around the corner. How quickly this year has flown. Four more months left in the year.

Three more months before the $8000 first time home buyers tax credit expires.

Are you or someone you know hoping to take advantage of this tax credit? Time is running out. You must close on a home on or before November 30, 2009 in order to claim this credit.

Considering that the average closing happens about 30-45 days after an offer is accepted, there is not a lot of time left to find the perfect first home. If you are writing an offer on a short sale home, it can easily take 60-90 days to close, sometimes more.

Now is the time to be looking for your home if you want to take advantage of this offer. There are great homes out there, and with inventory very high right now, local sellers are willing to negotiate considerably more than they ever have in the past.

Give me or Luis a call if you are thinking of looking for a home. We will be happy to show you what is currently available in the area, and we can help you connect with a reputable mortgage banker who can help you figure out what you can afford in a home. Our market has houses from under $75K to hundreds of thousands, and everything in between. People start at all price points, and each buyer is valuable to us.

95 days and counting. Don't miss out on this credit; call us.

Here is a look ahead at area happenings in the upcoming week:

~ If your children are attending a Monticello school this year, remember that the open house night is on Friday at 6 pm.

~ Also in Monticello this weekend, Habitat for Humanity is working on this year's home. Come out to the site on Summet Avenue to help out or call Cathy at 513-1626 for more details.

~ There is a concert at the Piazza on Saturday evening. This is a private party concert, but the hosts love meeting new friends so gate crashers and new people are always welcome. Andrew Calhoun and Campground are performing folk music spanning spirituals to prison ballads. The potluck theme is 'Tis a Gift to be Simple. Call Terry or Nancy for details at 608-328-4023

~ Stef at Goose Chaser Farm between New Glarus and Blanchardville is having a tomato party on Saturday. Bring your ripe tomatoes and your canning jars. Together, attendees will boil, peel and puree their way to the scarlet jars of tomato sauce. Work like this is more fun with a group, so come out and participate. No canning knowledge or experience is necessary, so come learn. RSVP to Stef at 608-523-4165.

~ The Green County Entrepreneurs and Inventors Club meets on Monday evening at 6:30 in the New Glarus room of the Monroe Hospital. This month's topic is "Legal Aspects for Small Business. This meeting will be the September meeting due to the Labor Day holiday.