And yet, when she bought the house & went inside, the mirror was gone. All that was left were some holes in the wall & the wallpaper behind it ripped & discolored where it was previously mounted. The buyer promptly called her agent, who told her the mirror was personal property & didn't transfer with the house.
This scenario plays out in some form or another all the time. In real estate transactions, there are gray areas when it comes to personal property. Some contracts spell out exactly what's to be left behind for the new owner, while others are vague.
Don't assume anything you see on the property comes with the house. If you intend to buy a home & there's something in particular you want, speak, up early. Put your request in writing so that nobody is disappointed when the deal closes.
Here are five things that are often overlooked or not covered in a real estate transaction & that can lead to a dispute.
There are norms & customs in every market, which is why it's important to work with a local real estate agent who knows the ins & outs. And surprisingly, it's not the norm everywhere to include all major household appliances, such as a refrigerator or dishwasher, with the property. Worse, even if appliances are included, they might not be what you bargained for.
For example, a buyer was purchasing a home with top-of-the-line kitchen appliances. In the property's marketing brochure, the real estate agent had highlighted the high-end stainless steel appliances. Even though the contract stated that "appliances included in sale," however, the buyers were shocked when they discovered, upon taking ownership, that the seller had replaced the high-end stainless steel appliances with low-end models. This led to arbitration, & the seller had to return the appliances.
The lesson learned: Find out when making your offer if including appliances is customary in your market. If there's any doubt, be sure to put it in writing - & be specific. Make sure that "existing" appliances are included, or even go as far as to spell out the specific appliances, such as Bosch Dishwasher & Wolf Range.
2. Window Coverings
Window coverings are another issue that often results in some nasty e-mail exchanges after a sale.
In nearly every market, the custom is that if there are window coverings present, they stay with the new owner. Sometimes, there are shades & there are drapes. The shades may be fully fitted for the window & attached. But the drapes may be decorative. Sometimes the seller, w ho had the drapes custom made to match the furniture, will want to exclude the drapes from the sale. If you don't see it written anywhere or haven't heard about it, get the inclusion of window coverings in writing. Along with the appliances, specify that you want the "existing window coverings."
3. Personal Property
As with the drapes or the gigantic mirror noted above, the seller may have a specialty light fixture or a piece of art that appears designed to fit that space. Or there may be furniture that fits so perfectly into a room, nobody could imagine anything else going there. Here again, these items are personal property, & the seller may have no intention of letting them go, no matter how obvious it seems to the buyer than they should stay. Always assume that any personal property, much like the beds & furniture, will not transfer to the new owner.
4. Flat Screen TVs & Mounting Materials
Often, a seller may have had a high-def, flat-screen TV professionally mounted above the fireplace or on the wall like a piece of art, with the wires running through the walls. As a result, TVs - long considered personal property - are showing up more & more in real estate negotiations. But given a history of TVs as personal property, buyers shouldn't assume that a flat-screen TV, its wires or mounting brackets would stay behind after the sale.
5. Kitchen or Bath Hardware
Hardware - in the form of doorknobs, kitchen cabinet pulls, bed & bath fixtures, & so on - should always transfer to the new owner. This is just common sense. These items are permanently attached to & therefore should stay with the property. In fact, it used to be understood that "anything attached to the property stays with the property." During the foreclosure drama, however, it wasn't uncommon for the seller to remove nearly all fixtures & finishes from home before it was foreclosed on. This was their last chance to salvage some part of the house or even make a quick buck selling these items on the side. If you're considering buying a home in foreclosure, just be aware that it is sold "as-is," meaning how you see the home.
Items to be Sold Separately
Sometimes sellers will decide that they want to keep something, or that they aren't interested in parting with it for free. What is common is for the buyer to separately make an offer to purchase some of the seller's stuff.
Advice to Sellers
If you plan to take something with you, document it in all of the marketing materials (both print & online) so that there's no doubt in the buyer's mind what stays & what goes. When a buyer makes an offer, they can factor any exclusion of property into their price.
Advice to Buyers
Be as detailed as possible from the beginning. If there's something in particular you like & want to be sure stays, ask the listing agent during the open house. If they tell you yes, get it in writing.
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