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If someone you didn’t know asked for your children’s swing set or the matching leather furniture in your family room, What would you say? Would you sell the items? What if the stranger asked for the items as gifts?
Experienced sellers have heard it all. Many home buyers ask owners who they’ve never meet to leave personal property with the house they are trying to purchase as a condition of the sale.
Real property includes the land the house is built on and all "permanent" improvements on the land. Personal property includes "unattached" or non permanent items. The "attached" nature of an improvement often determines whether property is real or personal.
A good example of real property is shelving that is anchored (attached) to the walls of a house with bolts. The shelves are real property as they are permanently attached to the land or house. Movable metal shelving is unattached and is considered personal property. Trees and shrubs planted in the yard are attached and are real property but potted plants on the deck and patio are unattached and are personal property.
Whether you are buying or selling, the key to a successful "meeting of the minds" is clear and definite disclosure of what items remain with the property and which do not. Excluded items should be disclosed early in the negotiating process.
Whether you’re thinking about buying or selling or merely seeking information, rely on me to provide accurate up to date information about the marketplace today.
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