Wisconsin situation guide · Updated November 2026

Wholesaling Flood-Damaged Houses in Wisconsin

Wholesaling flood-damaged houses in Wisconsin means contracting to buy a water-damaged home and assigning that contract to a buyer who can handle the cleanup and rebuild. Around Madison’s chain of lakes, along the Yahara River and in river towns across the state, heavy rain and rising water leave basements and first floors soaked. Owners often want out before mold and repair bills pile up. Wisconsin’s wholesaler statute applies to these deals too. See our repair cost guide for the numbers side.

Wis. Stat. 710.13 noticeCondition report rules100% online mentorship

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The short answer

Can you wholesale flood-damaged houses in Wisconsin?

Generally yes, if you give the written wholesaler notices Wis. Stat. 710.13 describes and you disclose what you know. Confirm the current statute wording and get legal advice for your situation.

As the statute reads, a person who buys a one-to-four unit home intending to assign the contract for a fee is a wholesaler. The seller gets written notice no later than the purchase agreement. Your end buyer gets written notice no later than the assignment contract, saying you hold an equitable interest and not title. Our assignment guide and wholesale offer guide show the flow.

Late notice can let the seller rescind before closing and keep the deposit, or let the buyer rescind and get the deposit back. Flood deals add disclosure questions. Owners who lived in the home generally complete a condition report, and Wisconsin’s form asks about water and other defects. Our due diligence guide helps you ask good questions.

Flood-Damaged Houses in Wisconsin at a glance

Wholesaler notice	Written notice to seller and to the end buyer, per Wis. Stat. 710.13
Property types covered	Residential, one to four dwelling units
Condition report	Generally due within 10 days after acceptance, with a short rescission window
Transfer fee	30 cents per $100, paid by the grantor
Flood disclosure	No separate statute confirmed beyond the report form
Flood maps	Check FEMA maps and local floodplain zoning

The opportunity

Why flood-damaged homes create wholesale opportunities in Wisconsin

Water damage scares ordinary buyers and lenders, which leaves more room for investors. Dane County has lakefront neighborhoods and low spots where basements flood after storms, and Madison’s older east side homes are a common example. Owners often worry about mold, insurance gaps and the cost of drying out. A clear cash offer with a quick close can look like relief. Your edge is knowing which damage is cosmetic and which is structural, so learn the signs with our foundation guide before you write an offer.

Stressed owners

Many homeowners do not carry flood coverage, so repair bills land on them. See our motivated seller guide.

Investor demand

Contractors and rehab buyers who know drying and remediation will pay for the right scope.

Wide local variety

Lake, river and basement-only flooding all price differently, so keep your comps close.

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Lead sources

Where to find flood-damaged houses in Wisconsin

After big rain events. Drive affected neighborhoods in Madison and nearby towns and note properties with dumpsters, fans or debris piles.
City and county records. Local building inspection offices may have permit and condemnation records. Ask what is public.
Floodplain maps. FEMA maps show where flood risk is higher. They do not prove a specific house flooded.
Owner research. Use our guide to find a property owner and then reach out respectfully.
Listings and expired listings. Water-damaged homes sometimes sit unsold, so check our expired listings guide.

Your exit

Who buys flood-damaged houses in Wisconsin

Rehab investors with remediation crews, small builders and landlords are the usual buyers. They want moisture readings, photos of the basement and a clear statement of what you know about past water events.

Give each one the written wholesaler notice before the assignment contract. Never promise that a house is mold free. Our buy box guide helps you match flood deals to investors who actually want them. Make sure the buyer has proof of funds.

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Step by step

How to start wholesaling flood-damaged houses in Wisconsin

Ask about the water. Find out when it flooded, how deep it was and what has been dried or removed.
Get the paperwork. Ask for any condition report, insurance claim and repair invoices.
Check flood risk. Look at FEMA maps and ask the local zoning office about floodplain rules.
Run the numbers. Use the ARV calculator and the MAO calculator with repair costs that include drying, mold and drywall.
Sign with notice. Deliver the written wholesaler notice to the seller no later than signing.
Assign with notice. Deliver the written notice to your buyer no later than the assignment contract.
Close at title. Work with an investor-friendly title company and pay attention to liens.

Your checklist for wholesaling Flood-Damaged Houses in Wisconsin

Ask the owner for a written history of water events.
Check floodplain maps and local rules for the address.
Give both notices in writing and keep copies.
Recommend that your buyer get a mold and structural inspection.
Get a Wisconsin attorney to review your contract.

A Wisconsin example: a flooded ranch near Madison’s east side

Contract price	$112,000
Estimated repairs	$54,000
Repaired value (ARV)	$252,000
Buyer’s all-in cost	About $188,000 with fees
Assignment fee	$11,000
Transfer fee, 30 cents per $100	$336 on a $112,000 sale, paid by the grantor

A Madison retiree owned a ranch whose basement and first floor took on water after a string of storms. She had no flood coverage and a relative handling the paperwork. She wanted a quiet sale.

You compared nearby sales using our comps guide and agreed on $112,000. You gave her the written wholesaler notice before she signed and told her you planned to assign the contract.

A rehab buyer took it for an $11,000 fee after receiving his own written notice. He closed with cash through a title company and began demolition within a week.

Wisconsin rules to know

Notices, condition reports and fees for flood-damaged houses

Wis. Stat. 710.13 sets the wholesaler notices for one-to-four unit homes, and late notice can let the other side cancel before closing. Review the current text and our legality guide. Wisconsin’s broker definition can also catch a person who builds a pattern of sales, so keep track of your volume and check the license rules.

Chapter 709 generally requires owners who transfer residential property to give a condition report within 10 days after acceptance, unless an exemption applies. A buyer may be able to rescind within two business days when the report is late or shows a problem. The grantor pays the 30 cent per $100 transfer fee unless an exemption applies. See our attorney guide for help finding counsel.

Learn it with a mentor

Learn which water damage is worth the risk

Flood deals can go sideways fast. Mentorship students share photos and we walk through repair scope, buyer fit and notice timing.

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FAQ

Flood-Damaged Houses in Wisconsin: common questions

Is wholesaling flood-damaged houses in Wisconsin allowed?

Generally yes, with the written notices Wisconsin describes and attention to broker rules. Check current text. Give the seller notice no later than the purchase agreement, give your end buyer notice no later than the assignment, and disclose what you know about the water.

Does Wisconsin have a flood disclosure law?

No separate statute was confirmed. The condition report form is the main tool, so ask the owner direct questions. The Wisconsin form asks about water and other defects, so request the completed report early and ask about past basement water in plain terms.

Who pays the transfer fee?

In most cases the grantor pays 30 cents per $100 of value, subject to exemptions. On a $180,000 Madison house that is $540 on the seller side, and your title company can confirm the exact amount and any exemption before closing day.

Should I rely on FEMA maps?

They are a helpful starting point, but they do not prove a specific house flooded or did not flood. Also check local floodplain zoning, ask the owner about past water, and confirm with an inspector before you price the repairs.

What if the seller has a mortgage?

Ask for a payoff statement and make sure the price covers it. See our payoff statement guide. Flood damage can leave an owner with an insurance gap and a loan balance, so confirm the payoff in writing before you send a contract to a buyer.