Cheyenne

Non-Judicial

In a non-judicial foreclosure state, the lender does not need to go through the court system in order to foreclose on a property. This process can be quicker and less expensive for the lender compared to a judicial foreclosure.

Real estate agents generally conduct closings. Conveyance is by warranty deed. Mortgages are the usual security instruments. Foreclosures may follow judicial or power-of-sale proceedings. Residential foreclosures take around 120 days; agricultural foreclosures, around 13 months. Wyomingites use ALTA owner’s and lender’s policies and endorsements. Buyer and seller negotiate who’s going to pay the various closing costs and title insurance fees. There are no documentary, mortgage, or transfer taxes. Property taxes may be paid annually December 31st or semi-annually September 1st and March 1st.

Paid annually by December 31st or semi-annually Sept 1st and March 1st.

YES. Property management is expressly considered a real estate activity under existing Wisconsin real estate licensing laws. Property management is defined as â??the act of management for compensation of real estate for another, including collection of rents, maintenance of the real estate and accounting of fees received for another.â?? If a property manager is going to rent, manage or lease, or offer to rent, manage or lease real estate, or negotiate or attempt to negotiate to perform any of those acts, or list real estate for lease, or collect, offer or attempt to collect rent, or if he or she holds herself out as engaging in any of those activities, he or she will need a broker's license. A salesperson working under a broker may engage in such activities.

YES. For example, an owner of real estate or a member of his or her immediate family or his or her regular employees with respect to the property owned unless the owner, the immediate family or the employee is a real estate licensee, is exempt. In addition, any person or employee acting as the resident manager for a broker managing an apartment building, duplex, apartment complex or court, when the resident manager resides on the premises and is engaged in the leasing of real estate in connection with his or her employment is also exempt, unless that person is a real estate licensee. For more information about these and other Wyoming property management requirements and exceptions, please contact the Wyoming Real Estate Commission. Before hiring a property manager to manage your Wyoming rental property, you should always check that he or she is licensed appropriately. You can check the license status of Wyoming property managers using the Arello License Verification Tool.

There is no requirement that a community association manager or condo association manager in Wyoming hold a real estate broker's license.

Wyoming real estate broker licensing requirements include: - Trustworthiness: must submit proof of trustworthiness; criminal history - Age: must have reached the age of majority (in Wyoming, that age is 18) - Experience: must have served actively for two of the preceding four years as a real estate salesman or associate broker - Education: submit evidence of completion of 60 class hours approved by the commission - Exam: pass the broker exam

Wyoming real estate salesperson licensing requirements include: - Trustworthiness: must submit proof of trustworthiness; criminal history - Age: must have reached the age of majority (in Wyoming, that age is 18) - Education: submit evidence of completion of 30 class hours approved by the commission - Exam: pass the salesperson exam