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Wednesday, April 11, 2012

Understanding Real Estate: What are Reserved Items?

Reserved items in the home selling and buying process are items that are attached to the home or land which will not be included in the sale.

For Sellers:  It is important that you let your KW Selling Team agent know if you are planning on taking anything out of the home or removing anything from the land when you list your house for sale. The items that are not to be included, thus reserved, must be mentioned in your listing contract and disclosed to the buyer.
Common reserved items are: curtains, chandeliers, mounted entertainment equipment and play sets.

The following is a list of items that WILL be included in the sale of your home, unless disclosed to the buyer:

All buildings: gas, oil, and mineral rights owned by you (seller).

All attached fixtures such as: carpeting, linoleum, mirrors, complete lighting and fan fixtures, drapery and curtain hardware, window shades and blinds, screens, storm windows and doors, stationary laundry tubs, TV antenna, complete rotor equipment, satellite dish and controllers, garage door opener and controls, attached work benches, all attached shelving, fireplace doors and screens, and built-in appliances.

Mechanical: heating and air conditioning equipment, water heater, water softener (unless rented), water pump and pressure tank, and sump pump.

Other: stationary outdoor grills, all support equipment for in-ground pools, detached storage buildings, mail box, all plantings, underground sprinkler system, water pump and timers, fences and posts, fuel in tanks, awnings, basketball hoop/ backboard, and outdoor play equipment.

When you are presented with an offer, you and your KW Selling Team agent should go over this list once again.  If there are in fact reserved items that were not previously mentioned when you listed your home they need to be addressed in the counter offer.  If not, they will be included in the sale of the home and property.

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