I am purchasing a home from a relative and neither of us are planning to use a realtor. We have already sat down and gone through the purchase agreement (WB-11 in Wisconsin) and are in agreement on the terms. We have filled out the contract based on our agreed upon terms, but we have one outstanding question I could not find an answer to.
On the contract, there are two fields to mark down who drafted the offer (lines 1 and 564), and one field to mark down who presented the offer (line 578). On each of these fields, there is a [Licensee and Firm] indicator. This threw us for a loop as we are unable to determine if there is a requirement for the drafter/presenter to be licensed. I am the one drafting and presenting the agreement, so I would intend to put down my name, but I do not want to end up voiding the contract if that is not allowed. I am unable to find any resources on this online as they are all geared towards realty companies and those tend to either demonize private selling or simply not mention it at all.
Just to assuage some impending comments, yes we trust one another, and there is no concern about either party trying to abuse the contract. We are simply wanting to make sure it is filled out properly. We do not have concern about the other areas of the contract as they are relatively straightforward.