A primary responsibility of a real estate licensee is to prepare a Residential Purchase Agreement (“RPA”) that reflects “a meeting of the minds.”  In today’s vernacular that means having everyone “on the same page.”  The listing agent sets the ball in motion at the time of the listing by communicating with their seller.  The listing agent should ask, “What do you want to take with you and what do you want to leave with the property.”  No one should ever make any assumptions, nor rely on the general definition of real property (attached) vs. personal property (moveable).  Everything is negotiable.  All parties should know what property conveys with the sale.  The “RPA” should be clear and specific.  Vague language like per listing agreement, per MLS, or any variation thereof may lead to a misunderstanding and dispute.  Consider using a personal property addendum with a complete and detailed itemized list. The following contract clause contained in the California Association of REALTORS® purchase agreement may help to avoid and/or reduce the likelihood of any misunderstanding:  “Items listed as included or excluded in the multiple listing service, flyers, and/or any other marketing materials ARE NOT INCLUDED in the purchase price or EXCLUDED from this sale unless specified in the Residential Purchase Agreement.”

Source:  Avoiding Fixtures & Personal Property Disputes – a State of Nevada-approved real estate continuing education course written by Steven Kitnick ~ Steven Kitnick Seminars, LLC –  www.NevadaCE.com

 

 

 

 

 

 

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