In real estate few things upset buyers and sellers as often as misunderstanding what is and what is not staying or going with the house. At closing time, the last thing you want is a dispute over what goes with the house and what doesn’t. But it isn’t all that unusual for a buyer to think a particular item is included in the sales price, while the seller never had any intention of including the same item! Classic examples include window coverings, lighting fixtures and chandeliers. But just about anything which might be construed by a buyer as being “part of the house” has the potential for misunderstanding and disagreement. Generally, the law says that anything which is part of the land or attached to the house and is immovable, or can’t be removed without damage, or anything which is incidental or appurtenant to the land is real property. Personal property is basically everything else – the possessions you take with you when you move. One of the ways I think about it is - if you can pick it up without doing anything else, i.e. removing a screw or nail, then, it is personal property.
The law recognizes the intent and manner with which an item is attached in determining whether an article or fixture is real or personal property. Built-in appliances are usually considered real property, while free standing ones are usually personal property. If removing the item requires pulling nails, it’s probably real property. If it can be unscrewed and removed without leaving any damage, it might be an item ready to cause some disagreement!
If you are a seller and want to take fixed items with you then you need mark it under the exclusions list. Tell you realtor the very first time you meet that here are things I want to be excluded. If buyers know this upfront then they are able to negotiate based on this information. Better yet, take down the fixed item and replace it before the home goes on the market. Sellers remember - if there is something you want to take with you, and it requires removing a screw or nail, put it in the contract.
Remember, as with everything else in real estate, it’s all negotiable. I once bought caribou horns in a real estate transaction. If there is a unique item you want included in your purchase, you may be able to get it included at a reasonable price. Especially if the item won’t fit in with the new home the seller is moving to.
This entry was posted on Thursday, July 17th, 2008 @ 6:50 am on the category Selling A Home.
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