Working in residential real estate for more than ten years makes you think you’ve experienced everything. At the end of this last winter I was at a party and some new first-time homeowners divulged me their past experience at a completing walk-through prior to closing. They excitedly met with their agent to look at what would soon be their legal home. When they drove up the buyers thought the home was oddly dark. It was dark, very void of light! All of the outside and inside light bulbs had been removed by the sellers. It was their contention that since they were not attracted they did not convey. While this isn’t typical, you should know the difference between personal property and a fixture.
-Personal property. Defined as items that are easily removed and not permanently attached to property. Typically personal property includes items such as; rugs, drapes, furnishings, pictures, and appliances.
-Fixture. Personal property that has permanently been added to real estate. Built-in bookcases, closet organizers, light fixtures (but not their light bulbs!), automatic garage door openers are few examples of fixtures. There is no gray zone for fixtures like heating, cooling, and plumbing.
-Bill of sale. All personal property included with the sale of a property is transferred from the seller to the buyer through a bill of sale. You need one for all personal property that conveys.
-Exclusion. Items the seller made known he would be taken. Exclusions need to be documented in contract to purchase. Ensure the excluded items are on the listing sheets as well as pointed out during showings.
-A checklist made by the buyers should be used to make sure all the contractual inclusions remain at walk through.
-Disclose to buyers that some items in your home are leased such as your security system or cable box.
