Thanks to Team Honeycutt of Concord, NC for the inspiration for this post

218773 Resource 178435 178982 178982 1227402169866 1227402605328 Controlled Something to Cover in Every Home Sales Contract

Always take down Grandma's chandelier before putting the house on the market!

Before you sell or list your home, make sure you know the difference between real property and personal property. Then, make sure you account for it all in every contract you sign – from listing agreement to sales contract.  Real estate is considered to be the land, and any improvements permanently attached to the land.  Personal property is considered to be items not permanently attached to the land.  But what is permanent?"Is it attached?" is an important question to ask when buying or selling a home.  When buying or selling a home make certain that all items of personal property in the transaction are written into the contract.  Examples of personal property are refrigerators, clothes washers and dryers, curtains, and drapes.  The Arizona Association of Realtors® standard Residential Resale Purchase Contract spells out a number of fixtures that are included in any home sale and redefines the any freestanding kitchen range as a fixture, so that every house that is shown with a range will sell with that range (unless the contract is specifically modified to change that provision).  If the personal property is included in the price, be sure to write into the contract "at no monetary value" or the appraiser will deduct it from the value of your real estate purchase. If in doubt as to whether an item is real estate or personal property, ask your Realtor® for clarification.  Wise sellers will switch out any fixtures they want to take in order to avoid disagreements later. Writing the exclusion in the listing agreement may not be enough to keep a buyer from asking for something they see and don’t want you to substitute later. And, then, will you be willing to lose the sale over Grandma’s chandelier?Ann Heitland is an Associate Broker with RE/MAX Peak Properties, has been selling real estate for 10 years, and practiced law for 23 years before that. For Flagstaff real estate sales, contact <a title="Flagstaff real estate broker" href="http://bestflagstaffhomes.com/" target="_blank">Team Heitland at RE/MAX Peak Properties</a>: (928) 714-0001. 9 application/xml appraisal issues Flagstaff broker Flagstaff Realtor home sales personal property vs. real estate real estate contracts Real estate law Remax in Flagstaff Thanks to Team Honeycutt of Concord, NC for the inspiration for this post Team Honeycutt and Team Heitland are both members of Active Rain, a national network of real estate agents who blog about anything and everything related to real estate http://teamhoneycutt.activerain.com/post/790353/Personal-Property-or-Real-Estate false Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 1.1.4322; .NET CLR 2.0.50727; .NET CLR 3.0.04506.30; .NET CLR 3.0.04506.648) 127.0.0.1 127.0.0.1 aheitland 24.121.32.9 false true false false true 178975 false false true false false false true 178435 blog blogsite/BestFlagstaffHomes/web