Real property vs. personal property – Chapman Hall Realtors
  
Real vs. Personal Property left
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.     

'VeryTerryAtlanta' Chapman Hall Realtors 6100 Lake Forrest Drive - Ste #120 Atlanta, Georgia 30328
Phone: Cell: Fax:

Why Title Insurance? | ResultsforYou | Why Work With Irma? | Radon Information | Contact Irma@VeryTerryAtlanta | Curb Appeal List | Setting the Sales Price | Loan-Related Closing Costs | Get the Very Best Price! | Selling your own home | Your Home Valuation. | Find A Home! | Your FICO Score | How Escrow Works | Smart People. . . | When it's time to Buy or Sell | Custom Page | First Time Buyers | Get Pre-qualified | Inspection Tips | Home Buyer Checklist | Looking to Buy? | Download Adobe Acrobat | Tell a Friend | News | Real Estate Glossary | Our Homes | Looking to Sell? | Area Homes7 | Atlanta Area Homes3 | Atlanta Area Homes3 | Atlanta Area Homes3 | Area Homes7 | Area Homes7 | Let's Get Started | Applying for a Loan | Loan Application Checklist | Mortgage Saving Tips | Your Downpayment | Document Your Assets | Your Buying Power | Writing the Offer | Loan Programs | Mortgage Shopping | Locking in Rates | Lender Types | Staying Approved | Neighborhood Prices | Staging Your Home2 | Staging Checklist | Creative Financing | "For SALE" in Atlanta | Heart of the Matter | 9 Steps to Owning | Mold in the Home | Seller Paid Closing | Site Map | Fixed Rate Mtg Calc | A holiday sale? | Holiday Saving | Holiday Theft | Winterize your Home | Reasons homes don't sell | Be Accessible! | Lease analysis | Buying Foreclosures/REO's | Types of Listing Contracts | The Listing Contract | Contingencies in Contracts | The Back Yard | Need a Bridge Loan? | What's Earnest Money? | Should you paint? | Homeowner Warranties | Plumbing and Fixtures | Real vs. Personal Property | The Kitchen | Gated Communities | Flowers Add Curb Appeal! | Ethics in Real Estate | Improvements That Pay | Home Appreciation | Selling One, Buying Another | Fixer Uppers | Atlanta Buyers

Copyright © 2014 'VeryTerryAtlanta'
Portions Copyright © 2014 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: