Real Property vs. Personal Property

"Do the drapes stay?", "Will they leave the chandelier?"

These are the types of questions I hear when showing homes to buyers and they are good ones to ask. It's important to understand what you're getting when you purchase the home. We refer to this as real property.

Real Property is not just the land and anything that is permanently attached to it, but also the rights and benefits that are included. Anything else is typically called personal property. For my clients, the key phrase is "permanently attached".

If you can pick up an item and move it, it's probably not considered real property and it doesn't come with the house. That is, unless you ask for it! This is important to know. If a buyer wants the refrigerator, but doesn't specifically ask for it to remain in the contract, the seller will likely remove it because it is personal property and not permanently attached.

Here are some examples. Do these come with the house?

• Drapes- Not automatically. You must ask for them in the contract.
  
• Kitchen Appliances- Maybe. Some, like the refrigerator and the microwave, may not be permanently attached and you could just pick them up and move them- they don't stay. However, the garbage disposal and the dishwasher are most likely hard-wired and considered real property. Note: If the microwave is built in and hard-wired it would stay.
  
• Washer and Dryer- Not automatically. Even if the seller offers them in the listing, you should make sure and ask for them in the contract to make sure they stay if you want them.
  
• Light Fixtures- Yes, they stay if hard-wired. The kind that hang on a hook and plug into the wall are considered personal property, though.
  
• Bathroom Mirror- This can be tricky. It stays if permanently attached to the wall. If it is just hanging on a nail, it's technically personal property.

As you can see, there can be some confusion about this. That's why if there is something about the home that is important to you, make sure to include it in the contract. It is all negotiable anyway. If you really want the drapes, chandelier, or even a certain piece of furniture be sure to ask and make it part of your offer.

You should also know that if you ask for much of the personal property in your offer we may use what's called a "Bill of Sale Agreement". This will list the personal property on a separate form and keeps it outside of the actual sales contract. This is done to keep lenders from thinking that you are borrowing their money to buy a bunch of furniture, etc.

The imporant thing is to think about all of this up front. Otherwise you may find that you bought a home without any bathroom mirrors...

-Peter

www.NashvilleCityHomes.com
REALTOR. City Home Specialist.