Real vs. Personal Property 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.
Dedicated to improving advertising opportunities for the general public all across the United States.
The information on the ifsbo.info website published by Direct to Market LLC. ("DTM") is available to you "AS IS" for your independent use and is not intended to provide investment or real estate or legal advice. We can not and do not guarantee information and its applicability in regards to your individual circumstances. DTM makes no warranties of any kind, either express or implied, regarding information provided including, without limitation, any warranties of merchantability or fitness for a particular purpose. You should seek professional advice from experts in each field.
Direct to Market LLC. P.O. Box 988 Camp Hill, PA 17001
The information on the ifsbo.info website published by Direct to Market LLC. ("DTM") is available to you "AS IS" for your independent use and is not intended to provide investment or real estate or legal advice. We can not and do not guarantee information and its applicability in regards to your individual circumstances. DTM makes no warranties of any kind, either express or implied, regarding information provided including, without limitation, any warranties of merchantability or fitness for a particular purpose. You should seek professional advice from experts in each field.