Real
estate transactions are emotionally charged. Sellers cherish their homes
and worry about selling them too cheaply. Buyers can be traumatized
by high purchase prices and the financial implications of
buying a home. This sets the stage for a transaction to
suddenly unravel when the parties squabble over who gets custody of
something as inconsequential as a chandelier light or some custom built-in
cabinetry.
From
a distance these disputes may seem silly but in the heat of the
moment the parties often view it differently.
After
representing buyers and sellers in our local market for nearly 20 years, I know
that the issues are not that significant and often can be easily resolved
through good will. But squabbles over fixtures after ratifying a contract
are far from uncommon.
Big
issues arise when things are not clear up front. You can avoid these issues
before they arise with due diligence. It is the real estate agent's job to
explain to the seller the difference between fixtures and personal property and
what will be included and excluded in the sale of the home. If a
seller does not want a fixture to be included in the sale simply remove
it. Alternatively the agent can specifically exclude certain fixtures from the
contract in an addendum that will be part of the disclosure package.
The
purchase contract states clearly that buyer’s purchase of the property includes
all existing fixtures and fittings attached to the property and devotes two
sections to fixtures and personal properties that are included and excluded in
the contract. Make sure that the contract states clearly what is included and
excluded from the property to avoid any misunderstanding.
Despite
best efforts, arguments may still break out. Remember to keep the issues
in perspective and make sure your agent is a skilled negotiator.
For
more details, please consult a local real estate attorney.
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