What Is Included In The Sale Of A Home? - Part 2

Published by peter | Filed under Buyer / Seller Tips, Real Estate

It seems that the best articles are born from the comments and questions of the readers and subscribers. It makes sure that the content is not only fresh, but it is also based upon the current interests of people active in the Tampa Bay real estate market.Recently, a friend had a question about an offer she is making which concerned the difference between an offer and a real estate contract. She asked:

When we looked at the house we put an offer on, the seller’s disclosure indicated that, among other things, the washer and dryer conveyed with the sale. We are still negotiating, but the washer and dryer have been removed from the premises. Our agent says that is perfectly acceptable, but I don’t understand how they could be put in the disclosure as included and then they aren’t. Is this really allowed?

So, the real question is when you negotiate a home purchase, what is included in the sale?Keep in mind, the real estate contract is the controlling documentThe key to the question above rests is the statement “we are still negotiating …” which means that no contract exists. The real estate contract is the controlling document, and any item included in the contract  is legally bound as part of the agreement. Once there is a contract, not just an offer, the included items become part of a legally binding agreement, not just an offer.The seller can change the offer at any time, but once there is a contract, it takes both parties to change anything about the agreement, including what is being conveyed in the transaction. So if you are buying a home and there is something in the house (not nailed down …), make sure that it is specifically included in the contract.Final point: a well-written real estate contract is legally binding.The important message in all of this is that there is a big difference between an offer and a contract. Offers can be changed at any time, but a well-written real estate contract is legally binding. Make sure you work with somebody who is an expert at both, it could mean the difference between your total satisfaction and happiness with the home versus confusion and heartache over a botched, expensive purchase.