The Real Estate Process: Pros Discuss Buying & Selling Your Home. Vi Brown
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The price was the maximum they could be approved for and, among other conditions, the contract was subject to the seller taking on the scooter by completion day in exchange for $3,000. The seller accepted the contract as written. Apparently, the seller was anxious to relocate and purchasing the scooter was a means by which he was able to move on with his life. Needless to say, I had very happy clients who delighted in their new home!
It has been my experience that a little creativity and working ‘outside the box’ can turn into a win-win situation for buyer and seller. Those times make my job so delightful!
Inclusions in the Purchase
As a rule, all fixtures are included in a purchase. These generally pertain to items which are ‘attached’-- light fixtures, doors, curtain rods, tracks and valances, fixed carpeting and so on. Not everyone views ‘fixtures’ in the same way so it is best to specify some of these inclusions. For example, a built in vacuum cleaner is attached and should, therefore, be included. However, the attachments may not be included!
Items like washer and dryer and stove and fridge are not automatically included unless they are built in. Items such as drapes and curtains are not automatically included but the rods are. When in doubt - clarify!
Subject to Clauses or Conditions
All subjects/conditions must be clearly written, have a time frame for satisfying the condition and indicate if they benefit the buyer or seller or both.
Financing
We now decide what conditions are required to protect you in this contract. As your REALTOR®, I certainly have recommendations in this area. The major one is the financing. If I don’t include this condition, and for some reason your mortgage does not materialize, you are still committed to this contract. Even if you have been pre-approved, I still include this clause because the property forms part of the mortgage qualification.
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