Real Property or Personal Property?

Real Property or Personal Property?, by Des Moines Real Estate Experts RE/MAX Real Estate Concepts

The difference between real property and personal property may seem obvious – until closing day.  As professional real estate agents in the Des Moines area, we have seen many misunderstandings come about unnecessarily.  An easy way to avoid problems at closing is to have a clear understanding of what stays with the house in writing.  Negotiating every detail is vital to the success of a purchase and sale.

Real property consists of everything that is permanent including the house, the land, and permanently affixed items.  Examples of permanent items are hard wired lighting fixtures and nailed down wall-to-wall carpeting.  Examples of personal property are furniture pieces, dishes, and towels.  Some items such as certain appliances, fall into a gray area and may be considered either real or personal property.  In order to avoid misunderstandings at closing, make sure your purchase offer specifically lists any appliances or other items that are to remain with the house.

An item can become real property when negotiated as part of the sales contract.  This has become common in the Des Moines area especially with so many custom kitchen renovations taken place.  For example, if a particular appliance fits perfectly within a space, the buyers would want that appliance to remain.  The sales contract insures that appliance will remain with the house if negotiated as such.

The bottom line is better to list any items that you want to remain with the house in the sales contract, rather than to assume they will be there when you close.  Take note of any item that you assume is part of the real property and ask your real estate professional if that item is part of the contract.  If it is not, consider negotiating a clause for it.  Ask if the curtains and rugs stay with the house.  As a general rule, anything permanently attached to the house is part of the real property; don’t leave it to chance.

There is a lot of free information available to you about buying, selling or investing in Des Moines real estate. For complete information about the Des Moines real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything everything Des Moines real estate at Real Estate with RE/MAX. Please feel free to contact us with any of your real estate or mortgage related questions and we will be more than glad to answer your questions. Call us at 1-800-708-5890 or email us at dsm@realestateconcepts.net.