Share: 

The Sales Price

September 28, 2023

After your search for a house and all the negotiations are over, you arrive at the sales price. Finally, you feel some certainty about your bottom line. However, it is not unusual for there to be disagreements about what is included in the sales price. Careful drafting of the paperwork can help to avoid future disputes.

The following definitions may help. Real property is land and any permanent attachments, such as buildings, landscaping and fences. Personal property consists of movable possessions, such as furniture and clothing. A fixture is defined as an item of personal property which has become part of the real property by virtue of becoming permanently attached, such as a new sink, a Jacuzzi, or a chandelier.

The principal area of dispute about the sales price often relates to fixtures. Most preprinted real estate contracts will provide space for the fixtures to be listed. Whether you are selling or buying, you should make use of this space. Do not assume curtains, satellite discs, antennas or fireplace equipment come with the house. You should also make it very clear what you don't want left on the property. If you are specific about every item that may be questionable, you will greatly reduce the chances of a dispute after the closing.

f you have any questions about this real estate tip - or any other tips you may have heard elsewhere - please do not hesitate ask! There is no obligation and you'll hear back quickly!

__________________

Bill Cullin
Your Real Estate Source at the Delaware Beaches

Call or Text: (302) 841-7147
Toll Free: (800) GO-BEACH, Ext 27117
Email: Bill.Cullin@LNF.com

Websites:
DelawareBeachRE.com
TheHenlopen.com

Click Here for Zillow.com Client Reviews
 

ACCREDITATIONS & AWARDS:

  • 2022-3rd Consecutive Year: Overall Top Producing Individual Agent in Delaware at Long & Foster
  • 2022-3rd Consecutive Year: Member of the Long & Foster’s Gold Team Master Club Level, with sales volume of over $20-35 million
  • 2022-9th Consecutive Year: Five Star Professional Award-Winning Sales Agent
  • 2022-16th Consecutive Year: Top Producing Agent at Long & Foster’s Rehoboth Beach Office
  • 2022-13th Consecutive Year: “Zillow.com 5 Star Professional”, with “Best of Zillow” designation awarded in 2019
  • Top Selling Agent at The Henlopen Condominium in Rehoboth Beach, with well over 40 transactions, exceeding the volume of any team or agent in Delaware
  • Homesnap Top 5% Award, based on 202 data from over 1 million Homesnap Pro agents nationwide

Long & Foster Real Estate, Inc.
37156 Rehoboth Avenue Ext, Suite 5
Rehoboth Beach, Delaware 19971
Office: 302-227-2541, Ext 27117

Subscribe to the CapeGazette.com Daily Newsletter