What are you buying? What stays and what goes? You probably are walking through a house that is being lived in. And it’s always a little confusing about what is staying with the house and what is leaving with the sellers. Or sellers, what do you have to leave? And remember this is all negotiable. I have seen many an offer countered back and forth over things that are staying or going. So just because its in the original offer until the offer is executed or signed around this section of the contract can be a moving part.
A good rule of thumb is that if it’s attached to the house it stays. This typically includes ranges, dishwashers, furnaces, hot water heaters, light fixtures, curtains, blinds, TV wall mounts, Fencing, landscaping, all of the plants, flowers, trees, etc.
If you want something left that is typically not included in the text of the contract, it needs to be asked for and written into the contract. You would expect that the items that are in the home when it gets shown are the items that stay. No switching out the range or the refrigerator or leaving the old ratty one that was in the garage and taking the beauty that was in the house.
One thing you want to be mindful of is that even if it’s advertised as staying if it’s not in the contract it legally does not have to stay.
For example: If you talk to the seller while you’re looking at the home and they say they’re going to throw the tractor in but it’s not added to the contract then it’s not legally obligated to stay.
And then that brings up another red flag.
If you ask for and receive a bunch of extra things that are not Real Estate, you may see your agent writing into the contract that all of that stuff stays at no value. Your knee-jerk reaction is hey that stuff is worth lots of money, what do you mean no value?
Your lender will have a hard time pushing through a loan that has a large number of other items that are part of the value of the sale. For one thing, your Real Estate loan is only for Real Estate. It’s not for the tractor and the shed in the backyard. Those would typically be covered by a personal loan or an auto loan. So to keep the lender happy any additional items that you manage to negotiate from the seller have no value.
It’s a good practice to either buy the additional items out of the contract if there are a lot of items or keep the personal items that are added to the purchase or sale to a bare minimum.
Special Considerations: Idaho is a right to farm state. So if you were to buy a property part way thru summer that had a large crop /garden on it. Your sellers would have the right to come back and harvest that crop. Now you can probably negotiate a little on that but that is something to keep in the back of your mind.
Another Special Consideration: If you sell or buy a property with a lot of timber. How it was presented is how it sells. The seller does not have the right to harvest the lumber crop. If you want to harvest your lumber and you are selling land. You are going to want to do that prior to presenting it for sale.
In the contract, there is also a section about what is not included. So if the seller is wanting to keep the antique chandelier that is in the living room and you are good with it, you would want to make sure that the chandelier is NOT Included in the sale. In writing!
You are going to want to have a good idea of any additional items you want to ask for prior to the writing of the offer as once it’s written it is pretty much etched in stone for what is staying and going.
And Remember if its not in writing it didn’t happen!
Any questions on this section please do not hesitate to shoot us an email and ask.
Wondering what to expect when you receive an offer?
Check out our blog “Sellers How to Prepare for an Offer.”
Carry on with the Series:
Learn the Home Inspection section of the Contract