Should items of furniture or appliances like fans, refrigerators or air conditioners be negotiable in the home buying process? Are appliances not the personal belongings of the seller? Should the appliances increase the list and sale price of the property? Emotions often become involved when buyers and sellers start negotiating over personal items that hold sentimental value to the seller but may be little more than decoration or utility to the buyer. For example, a fan might have sentimental value if it was given as a gift on the sellers wedding day but to the buyer, a fan is just a mere appliance. Homeowners are sometimes confused by this questions and emotions during the home buying process. So relax and let’s clear the cloud of confusion regarding appliance during the home buying process.
Appliances like a refrigerator, air conditioner and fans are all negotiable. If they are present at the property during inspection buyers can ask for them in the purchase offer. For the seller, it’s a personal choice to accept or reject the offer but if you as the seller don’t need them, you may include them in your listing. This addition is perfect for first-time homebuyers who most probably don’t already own appliances.
However, never assume that any personal property is included in the sale as a buyer. They are negotiable. As a buyer ensure your agent includes the offer for the appliances in the purchase contract. In reality, if it is not agreed to in writing, you may not be entitled to receive any of the appliances.
In general, any item that is not affixed to the wall is not included in the sale. This is usually considered the personal property of the seller. However, in some cases, the seller will offer personal properties just to sweeten the deal. Once bargaining on the selling price of the house are completed, another round of negotiations over the value of the furniture or appliance can complicate the process and hold up the closing if the buyer and seller are far apart in their assessment of the value of appliances. Sellers commonly overestimate the value of their personal property while on the flip side buyers often expect to pay any price they want for appliances because the seller wants to sell the house to them.
Buyers and sellers should instruct their real estate agents to closely monitor the conditions included in the final contract, especially when the parties negotiated for certain appliances to be included in the sale. The buyer may agree to the additional charges or reject the offers. Buyers and sellers need to instruct agents and closing attorneys about the conflicts about the appliances and get the final agreement in writing before signing the contract.To continue with, as a buyer never passes on a good home because appliances are not included in the deal likewise as a seller, don’t lose a buyer over appliances.
The decision whether to include appliances or make them negotiable is ultimately up to the seller. Ensure you inform your agent and lawyer of whatever decision so they can guide you.
