Excluding Personal Property
By Warren Damiano
You have finally made the decision to move yourself, your family,
two dogs and the cat to another state. It will be a big move and
a real challenge.
So now you would like to limit your moving expenses, you decide to sell part
of your furniture, your washer/dryer, or other major items of
personal property. What should you do with them, should you include them in the sale of your
home, or sell them separately?
While it may seem easier to include the personal items with your
home, it may cause potential problems.
The biggest problem I have found when a seller includes these items such as a refrigerator
during the sale of their home is the potential that they may break prior to the closing.
If they were included as part of the sale, it is YOUR responsibility as a seller to
repair or replace those items if they are inoperable. Remember, most closing
take at least 2-3 months from contract date to closing of title. A lot
can happen during that time.
There are two problems with including furniture in a sale, the first is that
probably most buyers have different taste anyway and probably don't want your old
smelly couch anyway.
My advice is if you must sell personal property, do it outside the scope of your real
estate sale. Advertise the items separately, and be sure your real estate
agent understands that they are not included in the real estate conveyance.
Be sure to place them as an "exclusion" on the listing sheet, leaving no doubt in a
prospective purchaser's mind that they are being sold separately.
Your real estate agent can explain which items are considered personal property,
and which are part of the real estate. There is a definite difference, and you
should know which is which before selling.