By David R. Walker
Eliminating a common area of dispute between home buyers and sellers is easy
with foresight and careful attention to detail.
Too often a prospective buyer will fall in love with a home only to be
shocked and dismayed when moving day arrives to find that many of the features
they adored were taken by the seller.
To avoid a surprise, steps need to be taken long before the home purchase
goes into escrow.
Work with your Realtor to ensure that the purchase agreement – a legally
binding document of sale – includes clauses describing in detail exactly what
property is included.
The contract which you sign is a legal instrument enforceable by courts in
the event of a breach by either party. If in doubt, it is wise to include
additional conditions which must be met before you are obligated to buy and to
specify any personal property you would like included in the purchase.
The same holds true for sellers. They could take an item that typically
falls under real property if they include it in the purchase agreement. The
buyer could say “No,” and then it becomes a subject of negotiation.
Better to invest time and energy before hand coming to an agreement rather
than be stunned or face a possible legal fight after the fact.
Real property includes the land, the house itself, and features such as
trees, shrubs or a fence. Built-in appliances, window coverings, plumbing,
light fixtures and tacked-down carpets also generally constitute real
property.
Personal property extends to movable objects that are not permanently
attached to real property. Free standing appliances, such as a microwave or
toaster probably will be hauled out when the seller vacates the property.
Problems arise when one person’s definition of “built-in” becomes another
person’s “free-standing” appliance.
This is especially true when buying brand new home based on a fully
furnished model home.
In most cases, you can have the teak paneling, top-of-the-line appliances
and designer furniture that helped you fall in love with the home, but only if
you’re willing to pay a higher price. If in doubt, be sure that the purchase
agreement details what is included in the purchase.
Remember, the agreement to sell between a buyer and seller of real estate is
governed by the general principles of contract law. If it’s not in writing you
will have little recourse if something is missing.
This column is a service of the 11,800-member Southland Regional
Association of Realtors, one of the nation’s largest local associations. Send
questions to David R. Walker via e-mail to DavidR7944@aol.com.
-- 30 --