Question of the Day - How Do You Advise on Real Property Transfer Declaration?

Real Estate Broker/Owner with Aspen Lane Real Estate Colorful Colorado CRE# 40005863

The Real Property Transfer Declaration ask the buyer if any personal property was conveyed in the sale of the home including carpeting, appliances, window covering, etc. 

I have always advised my clients to make this number a little high but not to exceed one percent of thesigning a contract sales price.

It has always been my understanding that the county will deduct this number from the purchase price of the home before they establish property taxes for the home.

My business partner advises people to use garage sale prices for this personal property and keep the number as low as possible.

I would love to hear what others think of this situation.

I'm not sure if the form is specific to Colorado, or if it is universal across the states.

Please share your thoughts on this subject.



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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hi Belinda,  Everyone has a different take on this,  But after listening to you,  I think you are right on target.

Mar 11, 2011 05:16 AM #1
Jerry Newman
Brown Realty, 210-789-4216, - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

Hi Belinda, I have not seen this form in Texas yet. But, I will check with my broker. Perhaps, I missed something about personal property.

Mar 11, 2011 07:08 AM #2
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

We do not have that requirement in Maryland. Very interesting.

 Water lily in the rain. Life is good!

Mar 11, 2011 02:21 PM #3
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Belinda, the Arapahoe County Assessor has been to the Board, and recommended 2% on resale, and 3-4% on new, but also how much personal property is involved.

Mar 12, 2011 01:24 AM #4
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Jerry,  I wasn't sure if it was just a colorado thing or not.

Roy.  Good to know that you don't have it either.  Must be just Colorado.

Hi Joan.  Thanks for that.  I thought it needed to be higher than lower.

Mar 12, 2011 04:57 AM #5
Jim Frimmer
HomeSmart Realty West - San Diego, CA
Realtor & CDPE, Mission Valley specialist

That’s interesting. Do you put in a number even if no personal property conveyed? Wouldn’t that be fraud?

Mar 12, 2011 02:40 PM #6
Joyce Godwin, Realtor, CRS
14257 FM 2920 #115 - Tomball, TX
RE/MAX Elite Properties

Belinda, I think I'm glad we don't have to deal with it in Texas.

Mar 12, 2011 05:46 PM #7
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Hi Jim.  They consider appliances and carpeting personal property.  There have been times when we put zero because the house is stripped of everything.

Joyce, It is weird that it is specific to Colorado.

Mar 13, 2011 01:52 AM #8
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Belinda Spillman

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