ARAMCO Report - The Mother of ALL Mortgage Blogs!

Home selling: what stays and what goes

Posted by Mehran Aram on Thu, Jul 18, 2019 @ 06:07 AM

An eccentric seller who had an emotional attachment to the door knobs in a home, a prize-winning rose garden and a crystal chandelier. These are just some of the unorthodox items sellers have taken from their home prior to moving out according to stories from seasoned Realtors. But according to the California Association of Realtors, there are some rules about what can actually be removed from a property.

The general rule-of-thumb is, if it’s nailed down, bolted or mounted, it stays behind. Understanding the difference between a fixture and personal property is key to knowing what to pack up. Buyers are legally entitled to receive all of the home fixtures as they appeared when the offer to purchase was made. But that hasn’t stop some sellers from stripping the home of some essentials that should have stayed like the toilet paper holders, light bulbs and the knobs to all the drawers and cabinets.

Unless sellers explicitly state otherwise in the negotiating process, home buyers shouldn’t expect to enter their new homes as victims of petty theft.

Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 4.00 percent and 15-year rates are near 3.375 percent.

Do you have a question for Real Estate & Mortgage Analyst Mehran Aram? Submit your queries about a home purchase, refinance, or reverse mortgage via Aramco.Biz, social media (#AramcoReport), or over the phone at (866) 381-8888 and your questions may be featured in an upcoming article.

Topics: Mortgage rates, home selling, Home Sellers