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Real Estate Contracts >Personal Property
When you purchase a property, it usually includes the land and everything attached to it, such as buildings, trees, shrubs, etc. Most buyers are only interested in purchasing the real estate, not the owner's personal property. What happens when personal property has become a part of the real estate? Is it actually a "fixture" which will now convey to the buyer with the real estate?
There are three tests which usually need to be satisfied. Has the personal property been permanently annexed to the real estate? Is it intended to become part of the real estate? What is the local custom? Fixtures may include shades, heaters, ranges, screens, storm windows, lighting fixtures, etc. To save misunderstanding at the closing--and perhaps the sale--it is important that the seller spell out specifically in the sales agreement what will go to the buyer as part of the property.
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| Q |
In what real estate market are more than 90 percent of home sales cash transactions?
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| A |
Palm Beach, home to princes, politicians, and CEOs, has homes from 2,000 sq.ft. condos to 56,000 sq.ft. estates. |
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Shelia Scott
Brian Jennings
Keller Williams
Indy Metro South
1410 East Morgan St.
Martinsville, IN
46151
Direct: 765-318-1031
Fax: 765-342-5502
primary: sheliascott@NUMBER1EXPERT.Com
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My team and I are here to take CARE of
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perfect home to handling all the details from START to FINISH. If you are
SELLING your home we will be sure to get you the BEST PRICE in the SHORTEST TIME
possible. SERVICE to YOU is at the Top of list!
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