Tag Archives: Wisconsin Real Estate Law

6 Tips on Drafting Letters of Intent

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Image courtesy of Super Trooper / freedigitalphotos.net

Image courtesy of Super Trooper / freedigitalphotos.net

Are you planning to purchase or lease commercial real estate? Negotiating a letter of intent (also known as an LOI) will be one of the first and most important steps you take on the way to owning or leasing your new property.  To help you through that process, here are six quick tips on drafting real estate letters of intent:

1.    Make sure your LOI is non-binding.

If you’re not careful, that letter of intent you wrote in a hurry at midnight could become your purchase and sale agreement.  To make sure that does not happen, always add language to your LOI, similar to the following, that makes it clear that your letter of intent is non-binding. Continue reading →

What Contractors Need to Do to Comply with Wisconsin’s New Storm Chaser Law

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Image courtesy of Victor Habbick / freedigitalphotos.net

Image courtesy of Victor Habbick / freedigitalphotos.net

On January 1, 2014, a new Wisconsin law, often referred to as the “Storm Chaser Law” (Wis. Stat. Sec. 100.65) went into effect. The new law is intended to protect consumers and their insurers from contractor fraud, particularly the type of fraud that sometimes occurs when unscrupulous contractors, often from out-of-state, descend on a community recently devastated by a storm or other natural disaster.

Continue reading →