Personal Property Purchase Agreement Section

The personal property purchase agreement that we use in North Florida makes it crystal clear what is expected to stay when buying Jacksonville FL Real Estate. Sellers that want to take personal property with them should make sure it is listed in the purchase agreement as excluded from the sale. Every buyer and seller should read this section at the time of the offer being submitted and also right before closing to make sure they aren’t in violation of this section.

While it is very common for homeowners to violate this section by mistake, rarely does the new homebuyer cause a fuss over it. However, you should always want to protect yourself from possible litigation from these issues.

Video Transcript

Hello and welcome back to the channel so today we’re going to discuss the standard northeast Florida real estate purchase agreement and what we’re really going to focus on is the personal property section of this agreement. It’s important for listing agents buying agents as well as the seller and the buyer and this is where you can really see if you have a lazy realtor or a detail-oriented one.

So let’s jump to the main portion that we’re going to discuss today and that is going to be the personal property section. Now, this video comes to us because of a Reddit post that I saw and it was a real estate horror story. Where uh the seller sold their house and they had these drapes that were up at the time of uh the contract and they took them down not realizing that that was an issue and the buyer showed up at their new house a couple of weeks later and served them with a lawsuit because they removed it. A few things this person mentioned that they did tell their agent that they were going to take the drapes however that was not listed in the personal property section and that’s where you could tell right away she had a very lazy or incompetent agent and I’ll let her decide that.

So let’s actually get into this section. So the personal property states the following items if owned by the seller and existing on the property on the date of the initial offer.  So not when you accepted it when they made the offer when that offer was sent to your agent and presented. Are included in the purchase price so a lot of standard stuff here that you would just normally include that you would normally assume is included in the house if they’re there range oven, cooktop, dishwasher, disposal, trash compactor. So here’s one ceiling fan some people love the ceiling fans that they have and they have these custom ceiling fans. If it’s not in this section where it says excluded specifically excluded in this agreement then it stays with the house and that goes the same with smart thermometers and smart keyless entry. I have a smart lock in my door and a smart thermostat. if those are in the house in the property installed on the date of the offer then those are no longer mine those stay with the house and that’s important to know. It goes on um to more things solar panel light fixtures bulbs and then here’s where this person got in trouble, drapery so any window treatment that’s in the house when the offer is made stays in the house. This is routinely not followed and normally the buyer doesn’t really care and doesn’t make a big issue about it but in this case, the buyer made a huge issue about it even going as far as suing. 

So how to protect yourself: anything that is in the property when you list it when you are doing that listing agreement with the listing agent needs to be put in this excluded. If you do not want to sell it with the house so this includes anything furniture and when I say furniture I mean the type of furniture that we have here you know cooktop, a dishwasher that type of furniture context. Any drapery, anything that’s listed up here that says it’s included in the purchase that you want to keep needs to be listed in the listing agreement but that’s not far enough because you also have to verify that when the purchase contract is submitted to you as an offer that those items are also listed on this purchase a contract that we’re looking at right now.

So make sure all the items that you are taking with you that would normally be included in this personal property section are put in the excluded from the agreement. It’ll protect you from any possible legal actions and like this person, this person now has to go consult a lawyer and has to be like okay what are my options what’s going to happen legally what are the legal consequences here. So there you guys go protect yourself from any of these possible issues by one getting a real estate agent or realtor that is detail-oriented and actually isn’t a lazy person like the majority of agents out there or incompetent and uh that’s the first step. The second step is check make sure read the purchase agreement that has been submitted to you that’s extremely important and if you’re the buyer and you want something to be included write it in there if it’s not listed don’t expect to just get something just because it’s just not how it works. So thank you guys I appreciate you watching today like subscribe to the channel. I’m a Jacksonville Florida real estate agent so if you are in Jacksonville hit me up. I can help you out thanks.

Copyright Julington Group 2020

If you found this informative, please consider leaving A google review