Should It Stay or Should It Go? Lessons on Fixtures in North Carolina
The issue of what items are to remain in the house upon closing versus what the seller is taking, can be a complex. Sometimes sellers want to take things that are fixtures, or just do.
Buyers often have questions about what items will stay and what will go, too. And sometimes they make assumptions.
Debe does an outstanding job of addressing this issue which can sometimes come to a head at the final walk-through before closing. This is an important read for buyers and sellers, and their agents!
Keep in mind that contracts vary from state to state, too!
Please stop by Debe's original post to comment there!
Should It Stay or Should It Go? Lessons on Fixtures in North Carolina
The discussion often occurs during the final walk-through when the buyer realizes that one of the fixtures has been removed. Sadly, this isn’t what you want during the final walk-through – you want excitement and the sense of ‘can’t-wait-to-move-in’ during this time – NOT, anger or agony over whether or not the seller is going to return the missing item or items!
Most of the time these final walks are taking place, either during the evening, just prior to Closing or the morning of Closing so, when this occurs, we are all scrambling to manage the situation. Oftentimes, it is not easy as the sellers are either moving across the country or they have their belongings packed away in a storage facility or on a moving truck. So, the items are inaccessible until AFTER the Closing.
As lenders won’t allow personal checks from the sellers to the buyers to cover the cost of the missing items or any changes made to the Closing Disclosures without having to be re-approved, this can cause a delay in Closing. This can not only cause extremely hard feelings between the buyers and the sellers but, increased costs for both parties.
How do we remedy this?
AGENTS: INFORM YOUR CLIENTS – both sides of the transaction need to be familiar with what stays and what goes in a real estate transaction. Educate, educate, educate!
SELLERS: When packing, consult your Contract. Your agent should have gone over this with you when you listed your home as well as when you received your Offer. However, sometimes even with these reminders, in the midst that is the chaos of moving, some fixtures are missed. My recommendation, just before beginning to pack, print page 3 of the Contract – or this article – where all of the fixtures are listed for your review.
BUYERS: If in doubt, add it to the Contract. For example, pool owners may not consider the electronic cover to their pool a fixture. It should be but, it is not specified in the Contract. So, to prevent last-minute issues, add it to your Offer.
Here is the list from page 3 of your North Carolina Purchase Contract – with a few notes on some of the ‘hot’ items (also bolded for your reference). Unless otherwise specified IN THE CONTRACT, the following items are deemed fixtures and are included in the purchase price free of liens (if they are in/on the property at the time of Contract or written in to be added:
1. range/stove/oven
2. any built-in appliances – note that refrigerators, most wine refrigerators and washers & dryers are NOT built-ins.
3. light fixtures
4. ceiling fans
5. attached floor coverings
6. blinds & shades
7. drapery rods and curtain rods, brackets and all related hardware – The draperies/curtains are personal property but, not the rods, brackets and hardware.
8. window and door screens, storm windows
9. combination doors – DO NOT replace your doors after Contract to take your combination door with you!
10. awnings
11. antennas & satellite dishes and receivers
12. mounting brackets for televisions and for speakers and all related hardware – This has been the source of most issues with fixtures during 2016. The brackets on the walls remain, as do the brackets on the back of the TV (RELATED HARDWARE).
13. burglar/fire/smoke/carbon monoxide alarms and security systems
14. pool, hot tub, spa and all related equipment – If in doubt as to whether or not your equipment is ‘related,’ write it into the Contract.
15. solar energy systems
16. attached fireplace screens
17. gas logs, fireplace inserts – YES, these are fixtures, NOT personal items!
18. electric garage door openers with controls – This may seem trivial but, all cars may not sync with your garage door control!
19. outdoor plants and trees (other than in movable containers)
20. basketball goals, storage sheds, mailboxes
21. all bathroom wall mirrors and all attached wall and/or door mirrors – Another major 2016 item – if you have personal wall mirrors that you do not want to convey, change them out before listing your home.
22. fuel tank(s) whether attached or buried and including any contents that have not been used, removed or resold to the fuel provider as of Settlement
23. landscape and/or foundation lighting
24. invisible fencing including all related equipment – ALL related equipment must remain.
25. lawn irrigation systems and all related equipment
26. water softener/conditioner and filter equipment – Sellers, if you do not plan to leave this equipment, be sure that you list this as an exclusion on the Contract.
There is, of course, an option to list exclusions to the above list or to add items that are NOT permanent fixtures that you would like left in the home by the seller. Be sure that these permanent fixtures (as well as exceptions and personal items to remain) are reviewed prior to Closing…and preferably by the seller prior to the walk-through!
© Debe Maxwell | (704) 491-3310 | SavvyBroker@me.com | Should It Stay or Should It Go? Lessons on Fixtures in North Carolina
Originally posted at http://www.icharlotterealestate.com/stay-go-lessons-fixtures-north-carolina/#ixzz4GsNu9VXO
(THE best Charlotte home search available - no kidding!)
Charlotte NC Real Estate Agents
Debe Maxwell, CRS/Realtor®/Broker
SavvyBroker@me.com
Phone (704) 491-3310
Comments (8)Subscribe to CommentsComment