Wisconsin Real Estate Sales Practice Exam

What form does a licensee use to modify a term in a sales contract?

1. WB-39

2. Amendment to offer- WB-40

3. Change Request- WB-42

4. Contract Adjustment- WB-45

The correct answer is: Amendment to offer- WB-40

The appropriate form a licensee utilizes to modify a term in a sales contract is the Amendment to Offer, commonly referred to as WB-40. This form is specifically designed for parties involved in a real estate transaction to make changes or additions to the original sales contract. It allows the parties to ensure that any alterations, whether they pertain to dates, prices, contingencies, or any other terms, are formally documented and agreed upon. Using this form is essential because it provides a structured and legally recognized way to amend agreements, thereby reducing the likelihood of misunderstandings or disputes regarding the modifications made. The focus of the WB-40 is to maintain clear communication and documentation between all parties involved, ensuring that the amended agreement reflects their current intentions. This form differs from others, as some may designate specific requests or adjustments that are not exclusively meant for contract modifications. Therefore, the WB-40’s purpose in amending an existing offer is what makes it the correct choice for this scenario.