Real vs. Personal Property left
At closing time, the last thing you want is a dispute over what goes with the house and what doesn’t. But it isn’t all that unusual for a buyer to think a particular item is included in the sales price, while the seller never had any intention of including the same item! Classic examples include window coverings, lighting fixtures and chandeliers. But just about anything which might be construed by a buyer as being “part of the house” has the potential for misunderstanding and disagreement.  

Generally, the law says that anything which is part of the land or attached to the house and is immovable, or can’t be removed without damage, or anything which is incidental or appurtenant to the land is real property. Personal property is basically everything else – the possessions you take with you when you move.  

The law recognizes the intent and manner with which an item is attached in determining whether an article or fixture is real or personal property.  Built-in appliances are usually considered real property, while free standing ones are usually personal property. If removing the item requires pulling nails, it’s probably real property. If it can be unscrewed and removed without leaving any damage, it might be an item ready to cause some disagreement!  

To avoid problems, both buyers and sellers should make detailed lists of any items to be included in the sale before closing.  As a seller, give your list of items to be included to the closing agent. If there is something you want to take with you, and it requires removing a screw or nail, put it in the contract.  

Remember, as with everything else in real estate, it’s all negotiable. If there is a unique item you want included in your purchase, you may be able to get it included at a reasonable price.  Especially if the item won’t fit in with the new home the seller is moving to.     

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.
 
Your Information
*Name:
*Email:
Phone:

Your Question
Question:

Note: Fields with an * are required

Equal Housing Opportunity

Brian L. A. Wess (Pat Newell & Associates - Metro Brokers): Real Estate Agent in Colorado Springs, El Paso County, Colorado

 


Brian L. A. Wess - CRS, CDPE, GRI, ABR, ASR, CSR, CNS, SFR, e-PRO Infinite Horizons Realty 2910 N. Powers Blvd, #174 Colorado Springs, CO 80922
Phone: Fax:

Why Get An Inspection? | Results for You | About Brian | Tax Closing Costs | Lead in the Home | Loan-Related Closing Costs | Insurance Closing Costs | Get the Highest Price | Selling your own home | Free Home Valuation | Find A Home! | About CO Springs | CO Springs Info | Bars, Pubs & Clubs | School Info | Colorado Foreclosures | Client Testimonials | Home Resource Center | Surveys & ILC's | Identity Theft | It's All About Choices | Support Our Troops | My Listing Programs | Neighborhoods & Areas | Veterans Ride | Old Foreclosure Law | Renters & Foreclosures | Short Sales | Foreclosure Alternatives | Privacy Policy | Heroes Rewards | Local HOA's | Avoid Foreclosure | First Time Buyers | Inspection Tips | Looking to Buy? | Environmental Issues | News | Press Release | Real Estate Glossary | Looking to Sell? | Featured Homes | Home | Mortgage Saving Tips | Housing Finance Agencies | Your Buying Power | Locking in Rates | Living Trusts | Staying Approved | Staging Checklist | All Listed Homes | Heart of the Matter | Mold in the Home | Seller Paid Closing | Site Map | APR Calc | Fixed Rate Mtg Calc | Mortgage Points Calc | Mtg Tax Savings Calc | Balloon Mortgage Calc | ARM vs Fixed Rate Calc | Mortgage Qualifier Calc | Required Income Calc | Maximum Mortgage Calc | Mortgage Payoff Calc | Refi Interest Savings Calc | Refi Breakeven Calc | Mortgage Calculators | Interest Only Calc | Real Estate Info | A holiday sale? | Holiday Saving | Holiday Theft | Winterize your Home | Property Management | Reasons homes don't sell | Showing Accessibility | Buying Foreclosures/REO's | Listing Contract Types | The Listing Contract | Contingencies in Contracts | Listing Commissions | The Back Yard | Bridge Loans | What's Earnest Money? | Should you paint? | Homeowner Warranties | Plumbing and Fixtures | Real vs. Personal Property | The Kitchen | Role of the MLS | Gated Communities | Flowers Add Curb Appeal! | Improvements That Pay | Home Appreciation | Selling One, Buying Another | Fixer Uppers | Mfg vs Modular Homes | Brian's Blog

Copyright © 2013 Brian L. A. Wess - CRS, CDPE, GRI, ABR, ASR, CSR, CNS, SFR, e-PRO
Portions Copyright © 2013 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: