Originally posted on my Denver Real Estate Blog
I get many questions working with Denver real estate clients or Highlands Ranch homes sellers and buyers that have to do with the real estate contract. Some issues and questions relate only to Colorado, others are more broad. This real estate contract series addresses those questions.
The Real Estate Transaction Series: Inclusions and Exclusions
You’ve decided that it is time to sell your house. The asking price is all worked out as well as other details. But what about the inclusions and exclusions? Will the fridge stay with the house? How about the curtains in the family room and the ceiling fan in the master bedroom, the hot tub? There are plenty of items to consider when selling your home.
These are things that come up all the time. Seller’s may think, well we can just negotiate a price for them with the buyer. But maybe the buyer thought they were already included in the price of the home. Some things are considered attached and part of the property, therefore part of the purchase. Maybe you were going to swap out that nice Pottery Barn curtain rod for the original basic model. Was it attached to the wall when the buyer wrote the contract? If so, did you identify it as an exclusion?
So what do you do? Best practice is to get familiar with the real estate contract and see what really is considered attachments and go with the property. Then decide, before going on the market, what you are willing to include in the sale and what you don’t want to include. Some things fall in grey areas, like the refrigerator or washer and dryer. Are they attached or just plugged in? When in doubt, just exclude them on the listing if you don’t want any misinterpretation. No real need to itemize your inventory here, personal belongings don’t all need to be identified. But if you were planning to replace the kitchen light with the original that came with the house, then either do it before showings or exclude it in the listing.
The list of exclusions and inclusions usually isn’t that long, but it’s best to consider these before you find yourself arguing with the other party about if it stays or goes.
Note: This article is intended to provide general information and is not intended to provide specific advice.
Real Estate Transactions: Inclusions & Exclusions is the 4th post in my Real Estate Transaction Series.
You can also read the others as well here:
The Real Estate Transaction Series: The Closing
The Real Estate Transaction Series: Final Walk Through
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