Hello and welcome. This is Nolan with DiscoverNChomes and Nolan’s News and I wanted to talk about furnishing, specifically conveying with the sale or the purchase of a home.
In today’s age with everything inflation being so expensive, the cost of moving furniture has become almost astronomical. So we’ve seen a lot of sellers conveying furniture with the sale of the home and buyers accepting this because they’re doing the same thing with the sale. And again, the moving expenses often outweigh the value of the furnishings themselves. So few key things to make sure of: in our multiple listing system, nonetheless, which can shoots out to Zillow, Trulia, Realtor.com, etc, you will see that sometimes it says “certain furnishings in a sale will convey.”
Very important to the buyer: if it says that you need to make sure that is actually written and you’re offered a purchase in the contract under personal property, and you need to be very specific in what furnishings will convey with the sale. Even though it is listed in MLS, the purchase and contract agreement is the end all be all. So if it’s there out to the masses and advertisement, that really doesn’t matter. It has to be in the offer to purchase. That is the most important thing in a transaction.
Also, sellers: you might have the intent of leaving a lot of your furniture, but if it’s not in the offer to purchase, and you’ve even advertised it, you can’t leave the furniture unless it’s there.
We’ve also had cases on the other side: a buyer comes in and says: “Well, I didn’t want this piece of furniture, and I didn’t want that piece.” And the seller was under the impression because they put it in the marketing that it could stay with the home.
So lots of furniture conveying going on. I’d say since covid, especially because it’s just become so expensive to move it and often the move is more money than the furniture is worth, make sure, both buyers and sellers, that the furniture to be conveyed is in the offer to purchase and contract and make sure it’s specific. You may even do an addendum, a separate addendum, or an agreement between the two parties, buyer and seller specifically stating what conveys.
If you have any questions, please let us know, make sure it’s there. And we’ll talk to you soon.
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Address: 4320 Southport-Supply Rd SE Suite 100, Southport, NC 28461
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