Buying Real Estate And Personal Property In The Same Transaction

Nick, another thing I learned today! You always hear about things being asked for when someone buys a house, but I never thought about the warranty thing. When we bought our house the sellers switched the fridge out for an older one before possession.

Nick ~ in Colorado, we often have appliances and window coverings in the contract left behind as personal property.  But not furnishings or decorations like mirrors and things.  The buyer will get a Bill of Sale for the items. 

Nick  I understand about the fruniture, but here in Northern Virginia kitxhen appliances are part of the deak 99,9% of the time

Nick, I agree, and if there is any indication that there is value being given to these items in the Sales Contract for other items, it puts the financing in jeopardy.

Hi Nick, appliances here are for the most part, included. Most times the sellers take their furniture unless the buyer wants to buy some of it then that is a different story.

Hi Nick, I need to write a post about the offer one of my sellers received last year.  I have never seen purchasers request so much "stuff".  I wondered why their agent wrote it in the real estate offer.   There were so far apart on price it never went anywhere, but if the sellers agreed to any of it we would have definitely handled it separately.

I left a surprise for you in my blog post this morning. Let me know when you find it. What? You think I’m going to tell you where? Ha!

This is a good post about what "incentives" the buyers are requesting now-a-days.  I've had a few deals that they want the "personal property" thrown in to sweeten the deal (for them) and wanted to use the "hot tub" in their counter.  My eyes roll back as I try to explain that personal property is not real estate, and will come with no value.  We have a section in our offer agreements that have a place to include personal property.  I CAN'T STAND IT when the buyers want to "counter" using personal property.  ANNOYING.  Endre makes a good point!!

Nick, in our state a home sold to a buyers, especially a first timer must be in habitable condition, and that includes the necessary kitchen appliances, stove and refrigerator. If they ask for the dining room set, or the freezer in the garage, that are a throw in item only

Nick good info that is why we always put "at no value" on any person property included into any contract.  Basically no lender will allow any personal property to be included at any value since that will cloud the value of the home.  In some cases some lenders will not allow the items to be in the contract at all even at no value. 

Personal Property can be included if both Seller and Buyer agree, but is left to the benefit of the Seller with no cash value, in Indiana.

I am on board with this 100%.  I had a buyer purchasing a million dollar property and after the negotiations on price wanted me to then go back and as the seller to "pitch in" the baby grand and the bar stools.  I emphatically said that I do not sell non-realty items and that after the option period she was welcomed to call the seller and work something out.  The buyer is still mad at me over this but as you said, too many potential problems with this. 

Nick, I too, would prefer to sell chattels separately in a side deal, keeping the real estate deal separate, but this seems to be the exeption, rather than the rule...

Non-realty items are often better addressed by having the buyer and seller negotiate a side agreement leaving the Agent(s) out of the arrangement (and keeping the contract language free from such inclusions).

Today I came across not just one but two listings with personal property, a small plane is being offered with a lot at the Costin Air strip in Port St. Joe FL and a vehicle in another.  It reminds me of "Dictionary Hill" in San Diego.  If you bought a home there back in the day, you got a set of encyclopedias. A plane and a lot on the air strip for $100,000. , really!