You’ve listed your home and received a great offer. Is it time to celebrate? Not quite yet. At least not until some important details are addressed to help speed your transaction toward a successful closing.
Even seemingly uncomplicated contracts can run into last minute delays that could cause the whole deal to fall apart. One of the most common issues has to do with “conveyances.” This basically refers to what the sellers will or will not “convey” or pass on, to the buyers after the sale.
Unhappy situations can be avoided altogether if you and your agent clearly define the “real” and “personal” property to be conveyed. Real property is the home itself and any permanent, attached fixtures such as ceiling lights and fans, kitchen cabinets, dishwasher, plumbing fixtures, garage door opener, furnace, and curtain rods. Personal property can easily be removed such as drapes, curtains, refrigerator, stove, washer, dryer, and furniture.
If you don’t want to convey the chandelier in your dining room that has been in your family for generations, then either replace it before your first showing, or clearly state in the listing information that it will not be included in the sale. Have your agent put together a feature sheet for your home that clearly states which items will stay in each room of your home. You may even request that you can take starts from your perennial flowers. That’s just starts, not digging up the entire plant and leaving large holes in the flower bed. It’s even a good idea to state in the feature sheet the items that will not stay if they are of great importance to you. If the buyer falls in love with a beautiful light fixture in your home and finds out after they make an offer that it doesn’t stay, the buyer feels like the seller is taking something away from them and has hurt feelings.
When you receive an offer, pay close attention to the items the buyer requests to stay. These could be listed on the purchase offer, inspection addendum or on a separate addendum. It’s a good idea to send a copy of the feature sheet and multiple listing sheet along with the offer to the seller. The seller should read over the feature sheet and multiple listing sheet to make sure the items listed on both are the items the seller intends to leave with the property. Occasionally mistakes are made, so it’s better to correct them now instead of buying a range or refrigerator for the new buyer because they were listed as staying on the feature sheet or multiple listing sheet and you took them with you when you moved out.
Happy buyers and happy sellers make for happy closings.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.