I recently sat in on (more like a refereed) a rather heated conversation between a real estate Agent and his first-time home Buyer client. They had just closed on the purchase of a home in Arizona, and both of them were quite upset.
Seems that the original Arizona MLS listing on the property had indicated that the refrigerator was "to be included with the home." The refrigerator was even mentioned in the property fliers, shown in photos of the kitchen and pictured in a virtual tour of the property. The refrigerator was in the home during the Buyer's first viewing, at the second viewing, during the inspections and at the final walk-through the day before recording.
As soon as the transaction recorded/closed, the excited Buyer went to see her new home. If you're anticipating the next part of the story, then you've no doubt guessed what she found ~ no refrigerator! The Seller had apparently removed it the night before the recording date.
The questions that this angry Buyer was asking her Agent were: "Where's MY refrigerator?" and, "Who's going to get it back for me, or pay for a new one?" At that point, I had to intervene and ask one simple question ~ what does the contract say?
The standard Arizona Association of REALTORS Residential Resale Real Estate Purchase Contract states that "...all existing fixtures on the Premises, and any existing personal property specified herein, shall be included in this sale...". The Contract goes on to say, "Additional existing personal property included in this sale: __refrigerator __washer __dryer as [hereafter] described."
The first question has to be, according to the Contract, , who owns that darn refrigerator? The answer is ((((drum roll)))) "It depends!" The only way to find out for sure is to review the Contract to determine whether or not ownership of the refrigerator was clearly marked and/or described in the Contract. If indeed the refrigerator was not marked or described, since it is clearly personal property, then the Seller owns it - plain and simple.
If, however, the refrigerator was clearly marked or described in the Contract, then the Buyer owns it. So what about the MLS printout? The MLS printout is merely a communication piece between cooperating Brokers that are members of and participating in the MLS. The MLS plano is NOT an advertisement, and it is NOT a part of the Contract. Therefore, even if the MLS printout says the refrigerator ~ or any other personal property ~ is to be included in the sale of the home, it is imperative that it be clearly specified and described in the Contract.
I recall hearing a story similar to this my first year as a Realtor and thinking to myself, "How boring!" I soon figured out that this is the "boring stuff" of which residential real estate is made.
Next question >>> what if the refrigerator had been built in, like a Sub-Zero? We'll save that conversation for another day. :)
Homes in Arizona ~ Homes in Gilbert ~ Homes in Chandler ~ Homes in Mesa ~ Homes in Queen Creek
Comments(60)