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Real Estate Tips
Real Estate Contracts >Personal Property

When you purchase a property, it usually includes the land and everything attached to it, such as buildings, trees, shrubs, etc. Most buyers are only interested in purchasing the real estate, not the owner's personal property. What happens when personal property has become a part of the real estate? Is it actually a "fixture" which will now convey to the buyer with the real estate?

There are three tests which usually need to be satisfied. Has the personal property been permanently annexed to the real estate? Is it intended to become part of the real estate? What is the local custom? Fixtures may include shades, heaters, ranges, screens, storm windows, lighting fixtures, etc. To save misunderstanding at the closing--and perhaps the sale--it is important that the seller spell out specifically in the sales agreement what will go to the buyer as part of the property.

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Real Estate Trivia
Q 
During what great land boom (1919) did investors pay up to $25,000 for lots that had not yet been dredged up from the ocean?

A 
The Florida Land Boom--Carl Fisher founded Miami Beach that year and brought hundreds of investors to the state.
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Mike Hornby, REALTOR®, real estate agent and broker for Calgary, Bearspaw and Elbow Valley Estates, Alberta home listings, property and land for sale - NUMBER1EXPERT

Mike Hornby
ReMax Real Estate Central

206 2411 4th St. NW
Calgary, Alberta, T2M 2Z8
Cell: 403-870-8009
Fax: 403-284-4923
mikehornby@NUMBER1EXPERT.com

Mike has been selling in Calgary, Bearspaw, Springbank, MD of Rocky View, Elbow Valley Estates, Heritage Pointe, MD of Foothills areas for over a decade. He has helped hundreds of clients purchase and sell their homes, through his efforts Mike has recieved many Re/max awards, including induction into the Re/max Hall of Fame and Platinum Club status. Contact Mike today! 403-870-8009



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