Why CAN'T I Take That With Me...It's MINE?!

I learn so much every day out here in the Real World of Real Estate. It is amazing the surprises and pitfalls we REALTORS face on a daily basis. If you aren't up for the challenge of constantly switching gears when least expected, you might not want to practice real estate for a living. For those of us Type A+ personalties who enjoy problem solving, we LOVE it!

Here is a scenerio for you: Ms. Seller is a week or so from closing and has decided she wants to dig up half of her landscaping and take it with her to the next state. She claims one of the trees to be her "baby" that she raised for the last 11 years. According to standard South Carolina Agreement to Buy and Sell Real Estate, Article 4, "The property, including but not limited to, landscaping and lawn, shall be maintained in the same condition from the effective date of this agreement until possession is delivered..." Digging up the tree or any other landscaping might hinder closing if the buyer gets miffed about its removal.  It is NEVER over until the "fat lady sings" and the new owner's name is recorded at the court house. You might be surprised at the seemingly miniscule items that can hang up a closing.

(The picture of the actual tree has been changed to protect the innocent...lol)

It is very important for sellers to discuss in depth which items in (and around) the house will and will NOT convey (or transfer ownership) in the sale. Specify whether or not the major appliances, window treatments, and any furnishings will stay with the home in the sale. All of this can be detailed in the listing BEFORE, the agent begins to advertise for you.  Deciding after the fact can cause some real problems.

If you state that the home is being sold furnished, be SURE to walk through each room and make a detailed inventory of personal items that will not convey. You would be shocked at the stink a buyer can cause over something as small as a child's framed artwork on the wall.  To you, it could be a priceless memento; to the buyer, it might be a deal breaker!

Buyers, all of this detailing goes for you as well. If you view a property and make an offer, be sure to READ the contract thoroughly (see my blog on lawyers) and include any items you would like to convey with the property. Even if the fridge is listed as an item that conveys, I would still have it included either under Article 2 of the sales contract, or in a separate Bill of Sale. Now, that being said, some agents will insist on putting ALL items that are not physically attached to the structure, or fixtures,  on a Bill of Sale. Some loan types, such as FHA or VA loans, have restrictions against including anything that is NOT a fixture on the face of the sales contract.  However, if you REALLY want that gnome out in the garden or beach scene print hanging in the living room, you had better ask for it in advance and in writing.

I know, I know...it seems very nit-picky. But, I promise you it is worth it off the get-go. Don't forget that wars have been fought and blood has been shed over the transfer of property...

Happy House Hunting!