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| Fixtures and chattelsThinking of taking the custom-made window coverings with you when you sell, or that entertainment unit handcrafted to compliment the woodwork in your family room?Without a doubt, these items can be hard to part with. On the other hand, your home may prove more attractive to potential purchasers if those items are included in the sale. In fact, it's quite common for sellers to include things that would normally be considered chattels, such as drapes and appliances, in the sale of their homes, as an extra incentive to buyers. However, fixtures - things that are attached to the property, like light sockets, a hot tub or electric wall heaters - are an altogether different matter, according to the law. Unless otherwise stated, fixtures are considered part of the house and where the house goes, so go they. The law is not always clear about what constitutes a fixture, but your REALTOR® will guide you through the listing process and help you decide and clarify what you want to include in the sale of your home. There may be special circumstances where something which might ordinarily be considered as a fixture is not included in the sale - like the Venetian glass chandelier you imported from Italy on your twenty-fifth wedding anniversary - but, if this is your intention, make sure that this is clearly stated in the listing agreement and, more importantly, in the agreement of purchase and sale. If exceptions are clearly stated in the listing, REALTORS® will point this out to prospective buyers before an offer to purchase is made. If you want to make absolutely certain that you keep certain items that might fall into the gray area between chattel and fixture, such as the bookcase you had made to blend with the unique woodwork in your home - you may even want to store them away so that no potential purchasers will see them, fall in love with them and insist that they be included in the sale. Some items on the property, such as water heaters or water softeners, are often provided on a rental basis. If this is the case, you should exclude the items from the purchase price and the purchaser should be asked to assume the rental. Items that are to be included should be described along with their location in or on the property. Remember, if you have questions or concerns, talk to your REALTOR®. He or she is a trained professional who will help guide you through the selling process. . This information is provided by the London and St. Thomas Association of REALTORS®. The information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. | |||||||||||||||||||||||
London and St. Thomas Association of REALTORS®, 342 Commissioners Rd.W., London, Ontario. N6J 1Y3 - Phone 519-641-1400 - Fax 519-641-4613
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