How to Identify Real Property versus Personal Property When Selling Home
John brings up a good point in his most recent blog post.I usually assume if it is attached, it stays, unless the seller or listing agent not that is does not stay in the MLS. What is common in your market area?
When selling your home you need to be able to identify real property versus personal property prior to putting your home on the market. Accurately identifying the two types of property will avoid possible disputes. A general rule in identifying real property: if the property is attached to the house then it stays with the house. For example, window treatment and chandeliers are in most cases considered attached to the house, therefore would stay with the house when it sells. If there are questionable items that the buyer might assume stays with the house, and seller intents on taking those items to their new home, then the seller needs put a sign on or near the item(s) stating the item(s) do not transfer with the house. In addition, the items that are to be included with the sale of the house should be identified within the Seller’s Disclosure of the property which is made a part of the contract. In final analysis, if you must unscrew a screw, take out a nail, detach from a wall or an exterior structure, remove from the ground, and you want to take the property to your new home, be sure it has been identified within the contact.
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