Chapter Overview Important Terminology WB-44 COuntER

Other Approved Forms - 12WB-46 Multiple Counter-PROPOSALApproved by Wisconsin Department of Regulation and Licensing11-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date)WB-46 MULTIPLE COUNTER-PROPOSAL1A Multiple Counter-Proposal is being made by Seller to one or more other prospective buyers. The terms of this2A Multiplemay Multiplediffer from Counter-Proposalthe terms of multiple counter-proposalsbeing submittedto other prospectiveseller Counter-Proposaluses the WB-46as a way to proposetransactionterms to3 buyers. This Multiple Counter-Proposal is not binding on Seller or Buyer until Seller’s binding acceptance per lines lgivesaselleraviable,legalmethodtonegotiate4 Seller or Buyer may withdraw their Multiple Counter-Proposal or accepted Multiple Counter-Proposal, at any time prior toprospective5withbindingacceptancebuyersper lineswithout45-47. committing to a particular buyer’s offer.6The Offer to Purchase dated and signed by Buyer, , for7A purchaseof realestateatseller canusemultiplecounter-proposals to issue non-binding proposals to prospective buyers.8 is rejected and the following Multiple Counter-Proposal is made. All terms and conditions remain the same as stated in theThe proposal is a statement of terms a seller wants a buyer to include in an offer. For example, a9 Offer to Purchase except the following: [CAUTION: This Multiple Counter-Proposal does not include the terms orreceivesgood offersor fromthreebuyers. A unlessseller incorporatedcan use multiplecounter-proposals to10sellerconditionsin anythreeother counter-offermultiplecounter-proposalby reference.]11negotiatewith the buyers. A seller could issue one proposal suggesting a different purchase price,12anotherrequesting earnest money, and no proposal to the third buyer. A seller does not have to13issueproposals to all buyers and can customize each proposal based on the buyer’s specific offer.Ifanyof the buyers agree to the seller’s proposals, the buyer signs the proposal and returns it to1516theseller. The seller is not bound by any of the returned proposals. If a seller likes the terms of an17offercoupledwith Departmenta buyer’sacceptedproposal, the seller signs it and delivers it back to the buyer.Approvedby Wisconsinof Regulationand Licensing1811-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date)Thereisnowbindingacceptanceofthebuyer’s offer including the terms of the accepted proposal.1920Lines 1-10WB-46 MULTIPLE COUNTER-PROPOSAL14212223242526272829Any warranties, covenants and representations made in this Multiple Counter-Proposal survive the closing of this transaction. ThisMultipleCounter-Proposalby Seller will expireand bemadenull andvoid unlessa copyof theapprovedMultiplebuyers.Counter-Proposal1A Multiple Counter-Proposalis beingby Sellerto oneor moreotherprospectiveThe terms(seeof thislines31-33) isdelivered to Sellermayin anymannerOffer tocounter-proposalsPurchase on or before(Timeprospectiveis of the2 MultipleCounter-Proposaldifferfromauthorizedthe termsinofthemultiplebeing submitted to other3 buyers.ThisThisMultipleMultipleCounter-Proposalnot bindingon SellerBuyer until Seller’s binding acceptance per lines 45-47.Essence).Counter-Proposalwasisdraftedonby or.4 Seller or Buyer may withdraw their Multiple Counter-Proposalor accepted MultipleCounter-Proposal,at any time prior toDateLicensee andFirm 5 binding acceptance per lines 45-47.(x)6The Offer to Purchase dated and signed by Buyer, , forSeller’sSignaturePrintestateName atHere Date 7 purchaseof real8 is rejected and the following Multiple Counter-Proposal is made. All terms and conditions remain the same as stated in the(x)9 Offer to Purchase except the following: [CAUTION: This Multiple Counter-Proposal does not include the terms orSeller’s Signature Print Name Here Date 10 conditions in any other counter-offer or multiple counter-proposal unless incorporated by reference.]30 11APPROVAL BY BUYER1231 This Multiple Counter-Proposal by Seller is approved by Buyer. Approval of this Multiple Counter-Proposal is not binding on Buyer13The firstof themultipleof counter-proposalindicatesthat thebysellermakingone32 or Selleruntil linebindingacceptancethis approved MultipleCounter-ProposalSelleris (perlines proposals45-47) on ortobefore14or more other prospective buyers.If a (sellera proposalonebuyer,the seller must33 ,Time is isof issuingthe Essence).NOTE: If tothejustaboveMultipleCounter-Proposalby1534 Selleris notapproved byBuyer inthatits entirety,do notuse thisform for a counter-offerby Buyer.Instead,submita alstootherbuyers.Absentthemodification,1635 Offer (WB-44) or a new offer to purchase.a buyer could misunderstand the number of other buyers with which a seller is negotiating and1736 18(x)a seller could be liable for misrepresentation. A seller might issue a counter-proposal to just one37 19Buyer’sSignature Print Name Here Date buyer out of a pool of offers. A seller may choose to use a counter-proposal even if the seller only2038 (x) has one offer because, unlike a counter-offer, a counter-proposal allows a seller to negotiate the21 Any warranties, covenants and representations made in this Multiple Counter-Proposal survive the closing of this transaction. This39 22Buyer’sSignature Print Name Here Date Counter-Proposal (seeMultipleCounter-Proposalby Sellerwill expire and be null and void unless a copy of the approved Multipleterms of an offer without rejecting it.31-33)is delivered to Sellerin any mannerauthorizedin the OfferPurchaseon or before(Time is of theThislinesMultipleCounter-Proposalis (rejected)(countered)STRIKEONE to(Buyer’sInitials)ThisexplainMultiple Counter-Proposaldraftedby .Linesthatmayreceivedifferent counter-proposals, the proposal41 24ThisEssence).Multiple sBuyerbyon402325DateLicensee and Firm is not binding on the seller until there is binding acceptance, and that parties can withdraw a42 on , at26 (x)43Licensee orand FirmDate Each buyera.m./p.m. proposalan accepted proposal until there is binding acceptance.receivesan27 Seller’s Signature Print Name Here Date individual WB-46, even if the seller is proposing the same terms to all of the buyers. No buyer44 28 (x)ACCEPTANCE BY SELLERwillknowthetermsanotherbuyer’s proposal. Like offers to purchase, the Counter-Proposaltermsof a counterSeller’sSignature PrintNameofHere 45 29By signingbelow, SelleracceptsBuyer’sapproved Multiple Counter-Proposal. The terms of this MultipleDateshall beproposal46 bindingon Sellerareand confidential.Buyer if Seller delivers a copy of the accepted Multiple Counter-Proposal to Buyer in any manner authorized30APPROVAL BY BUYER47 in the Offer to Purchase on or before the deadline stated at line 33. NOTE: Seller should not sign below if there is an existing31 ThisMultipleCounter-ProposalbySelleraboutis approvedby theBuyer.Approval ofisthisMultipleCounter-Proposalis noton madeon lines 6-7bybindingthe offer’s48 accepted offer unless this Multiple Counter-Proposal providesfor a secondaryoffer.32 or Seller until binding acceptance of this approved Multiple Counter-Proposal by Seller (per lines 45-47) on or beforedate, the buyer who made the offer, and theis ofpropertyaddress. Like counter-offers, the multiple, (Timethe Essence). NOTE: If the above Multiple Counter-Proposal by49 itionsof any previousthe50 34Seller’sSignature SignatureDate unlessSelleris not approved by Buyer in its Dateentirety,do not use Seller’sthis formfor a counter-offerby Buyer.proposalInstead,submita Counter51Offer(WB-44)or a new offerto purchase.drafterincorporatesthoseterms by reference.The accepted Multiple Counter-Proposal was presented to Seller by35A seller uses lines 11-20 to describe the proposal.36 (x)52 37Buyer’s Signature Print Name Here 53Licensee and Firm 38 (x)39 Buyer’s Signature Print Name Here 4041on , atDate Date This Multiple Counter-Proposal is (rejected) (countered) STRIKE ONE (Buyer’s Initials)This Multiple Counter-Proposal was presented to Buyer byDate a.m./p.m. 185

52836293730383139324033conditions in any other counter-offer or multiple counter-proposal unless incorporated by reference.]A Multiple Counter-Proposal is being made by Seller to one or more other prospective buyers. The terms of thisMultipleCounter-Proposal may differ from the terms of multiple counter-proposals being submitted to other prospectivebuyers.ThisMultiple Counter-Proposal is not binding on Seller or Buyer until Seller’s binding acceptance per lines 45-47.ESTATESALESSelleror Buyer may withdraw their Multiple Counter-Proposal or accepted Multiple Counter-Proposal, at any time prior tobindingacceptance per lines 45-47.The Offer to Purchase dated and signed by Buyer, , forpurchase of real estate atis rejected and the following Multiple Counter-Proposal is made. All terms and conditions remain the same as stated in theOfferto Purchase except the following: [CAUTION: This Multiple Counter-Proposal does not include the terms orLines21-29conditionsin any other counter-offer or multiple counter-proposal unless incorporated by reference.]Any warranties, covenants and representations made in this Multiple Counter-Proposal survive the closing of this transaction. ThisMultiple Counter-Proposal by Seller will expire and be null and void unless a copy of the approved Multiple Counter-Proposal (seelines 31-33) is delivered to Seller in any manner authorized in the Offer to Purchase on or before(Time is of theEssence). This Multiple Counter-Proposal was drafted on by .DateLicensee and Firm (x)Seller’s Signature Print Name Here Date (x)Seller’sSignature Print NameHere DateAnywarranties,covenantsandrepresentationsmade in this Multiple Counter-Proposal survive the closingof this transaction. ThisMultiple Counter-Proposal by Seller will expire and be null and void unless a copy of the approved Multiple Counter-Proposal (seeAPPROVALBY toBUYERlines 31-33) is delivered to Seller in any manner authorizedin the OfferPurchase on or before(Time is of theThis MultipleCounter-Proposalby Seller isapprovedbyBuyer. Approvalof this Multiple Counter-Proposal is not binding on edonby.Aseller includes a deadline for a buyer to acceptthe proposalon line 23and the draftingor Seller until binding acceptance of this approved Multipleby SellerDate Counter-ProposalLicenseeand Firm(per lines 45-47) on or beforelicenseeincludes identifyinginformationon isline24.Lines NOTE:26-29Ifarefor selleridentificationandby,(Timeof theEssence).the aboveMultipleCounter-Proposal(x)Sellerdateis notofapprovedby Buyer inits entirety,do notuse this formfor a thecounter-offerby Buyer.Instead, submit a uageisstricken.Seller’s Signature Print Name Here Date Offer (WB-44) or a new offer to purchase.(x)Lines30-43 Approval by Buyer(x)Seller’s Signature Print Name Here Buyer’s Signature Print Name Here Date Date APPROVAL BY BUYER(x)This Multiple Counter-Proposal by Seller is approved by Buyer. Approval of this Multiple Counter-Proposal is not binding on BuyerBuyer’s Signature Print Name Here Date or Seller until binding acceptance of this approved Multiple Counter-Proposal by Seller (per lines 45-47) on or beforeThis Multiple Counter-Proposal is (rejected)(countered)STRIKEONE (Buyer’sInitials),(Time isof the Essence).NOTE:If the above Multiple Counter-Proposal by34is not Counter-Proposalapproved by Buyerits entirety,do notbyuse this form for a counter-offer by Buyer. Instead, submit a Counter41 SellerThis Multiplewasinpresentedto Buyer35 Offer (WB-44) or a new offer to purchase.42364337on , at(x)Licensee and Firm Buyer’s Signature Print Name Here Date a.m./p.m. Date ACCEPTANCE BY SELLER(x)Bysigningbelow,Selleracceptsshall beBuyer’sSignature PrintNameHere Buyer’s approved Multiple Counter-Proposal. The terms of this MultipleDateCounter-Proposal 46 binding on Seller and Buyer if Seller delivers a copy of the accepted Multiple Counter-Proposal to Buyer in any manner authorized40is (rejected)(countered)STRIKE(Buyer’s47 Thisin theMultipleOffer toCounter-ProposalPurchase on or beforethe deadlinestated atline 33.ONENOTE:SellerInitials)should not sign below if there is an existing41MultipleCounter-Proposalwas presentedto Buyer by provides for a secondary offer.48 Thisacceptedofferunless this MultipleCounter-Proposal4438453942494350on , at(x) (x)Licensee and Firm Seller’s SignatureDate Seller’s Signature Date a.m./p.m.Date ACCEPTANCEThe accepted Multiple Counter-Proposal was presentedto Seller by BY SELLERBy signing below, Seller accepts Buyer’s approved Multiple Counter-Proposal. The terms of this Multiple Counter-Proposal shall beon ,Ifa sellerissuesa counter-proposalor allMultipleof theprospectivethemannerbuyerscanbindingon Sellerand Buyerif Seller delivers a copytoof somethe acceptedCounter-Proposaltobuyers,Buyeratin anyauthorizedLicensee and Firm Date a.m./p.m. in the Offerreject,to Purchaseon or before the deadlinestated at line proposals.33. NOTE: Sellershouldnot sign belowif there is anexistingaccept,or counter-offertheir individualTheseller-issuedproposalsarenot48 accepted offer unless this Multiple Counter-Proposal provides for a secondary offer.445145524653474950515253186binding on either party until binding acceptance, which must occur before the date listed on line(x)(x)33.Time is of the essence unlessit is stricken.Lines 33-35 instruct a buyer toDateusea WB-44Seller’s Signature Date Seller’s Signature Counter-Offer or a new offer if the buyer wants to suggest terms other than those presentedThe accepted Multiple Counter-Proposal was presented to Seller bybythe seller in the proposal. A buyer should not use the WB-46 Multiple Counter-Proposal foron ,at in the proposal,negotiating with a seller. If a buyer agrees to all of the seller’sterms includedLicensee and Firm Date a.m./p.m. the buyer signs and dates the proposal. Lines 36-39 are for buyer identification, signatures,and dates. If a buyer wants to reject or counter the proposal, the buyer indicates this on line 40by striking the inapplicable choice and initialling. Lines 41-43 are for identifying the presentinglicensee and the time and date of presentation.

3637(x)3839(x)40This Multiple Counter-Proposal is (rejected) (countered) STRIKE ONE (Buyer’s Initials)This Multiple Counter-Proposal was presented to Buyer by414243Buyer’s Signature Print Name Here Date OtherDate Buyer’s Signature Print Name Here on , atLines44-53 Acceptance by SellerLicensee and Firm Date Approved Forms - 12a.m./p.m. ACCEPTANCE BY SELLER44By signing below, Seller accepts Buyer’s approved Multiple Counter-Proposal. The terms of this Multiple Counter-Proposal shall be46 binding on Seller and Buyer if Seller delivers a copy of the accepted Multiple Counter-Proposal to Buyer in any manner authorized47 in the Offer to Purchase on or before the deadline stated at line 33. NOTE: Seller should not sign below if there is an existing48 accepted offer unless this Multiple Counter-Proposal provides for a secondary offer.454950(x)51The accepted Multiple Counter-Proposal was presented to Seller by5253on , atSeller’s Signature Date (x)Seller’s Signature Licensee and Firm Date Date a.m./p.m. If a buyer accepts a seller’s proposal and returns it to the seller, the seller then decideswhich, if any, of the returned proposals to accept. Lines 45-47 state that by signingthe proposal, the seller accepts the buyer’s approved proposal and, to achieve bindingacceptance, the seller must deliver a copy of the accepted proposal back to the buyerin a manner authorized by the buyer’s offer before the date included on line 33 of thebuyer’s approval section. Lines 47-48 caution the seller not to sign and deliver anaccepted proposal to a buyer if seller has accepted an offer unless the proposal relatesto a secondary offer. If a seller has an accepted offer from one buyer and delivered anaccepted proposal to another buyer without identifying one of the offers as secondary, aseller would have two binding contracts for the sale of the seller’s property. Lines 51-53 arefor licensee identification and documenting the time and date that the licensee presentedthe proposal to the seller.WB-42 Amendment to Listing ContractApproved by Wisconsin Department of Regulation and Licensing11-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date)WB-42 AMEndMEnt tO lIStIng COntRACtA sellera brokerthe WB-42Amendment to Listing Contractto amendthe termsagreedthat thewouldListinguseContractdated, betweenthe undersigned,1 It is or,of aslistedapropertyfor 200,000.Thesale of the property known as (Street Address/Description)broker advertises according to the terms of the listing contract but the property fails to attract3 in theof, County ofany offers. A seller decides to lower the listing price in an effort to generate more interest in the4, Wisconsin is amended as follows:property. Rather than drafting a new listing contract, the seller and the broker would use the5The list price istochanged to also use this form if a seller.WB-42AmendmentListingfromContract.A seller and broker could6decidednot expirationto sell thedatepropertyand terminatelistingearly, if the parties agreed to a differentTheof the contractis tion7midnight.,date.8The following items are (added to)(deleted from)9STRIKE ONEthe list of property to be included in the listprice:.1011Other:12131415161718187

Approved by Wisconsin Department of Regulation and Licensing11-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date)REALESTATESALESApprovedby WisconsinDepartment of RegulationandLicensingWB-42AMEndMEnttO lIStIng COntRACt11-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date)dated1 It is agreed that the Listing Contract,WB-42AMEndMEnt tO lIStIng COntRACt1-112 Linesfor sale ofthe property known as (Street Address/Description)of3 Itin istheagreed that the Listing Contract dated1, County of, between the undersigned,,, Wisconsin is amended as follows:4 for sale of the property known as (Street Address/Description)25 in theThe list price is changed from 3, between the undersigned,to of64The expiration date of the contract is changed from midnight75midnightThelist price is changed from 86following itemsThe expirationdate ofarethe(addedcontractto)(deletedis changedfrom)from midnightSTRIKE ONE97price:midnight, County of.to, Wisconsin is amendedas follows:,to .,the list of property to be includedin the listto,.,108The following items are (added to)(deleted from)119Other:price:STRIKE ONEthe list of property to be included in the 192220212322The drafting party identifies the original listing contract by date on line 1 and the listed propertyon lines 2-4. Lines 5-10 contain preprinted terms for amending the list price, contract expirationdate, and included and excluded items. Revisions to included and excluded items will notdictate what is included or exc

counter only the terms that vary from the original offer. All other terms remain unchanged from the original offer and are incorporated by reference. Approved by Wisconsin Department of Regulation and Licensing. 11-1-09 (Optional Use Date) 3-1-10 (Mandatory Use Date) WB-44 COUNTER-OFFER Counter-Offer No. _ by (Buyer/Seller) STRIKE ONE