Buying or selling property is as much a legal as a financial transaction. The current Consumer Protection Act (CPA) makes it more crucial than ever for sellers and their agents to be specific and forthright about the property they are selling. The CPA protects consumers from ambiguity and deception when buying goods or services advertised. This includes real estate.
All About Fixtures
Moveable property attached or fixed using glue, nails, screws, bolts, cement, or any other method becomes a fixture. It thus becomes part of the real (immoveable) estate. A towel rail is an example: the towels are the personal property of the seller but the towel rail, given its more permanent status, is a fixture.
Fixtures also include blinds, ceilings fans, fireplaces, ovens, bookcases, bars, TV aerials, satellite dishes, built-in water features, swimming pool and borehole pumps as well as light fittings and established plants and trees. While it is reasonable to expect that such fixtures will be automatically included in the sale, it is best not to assume that they will be.
How can you be sure? Here are 4 tips to help avoid disappointment and disagreements:
1. List Fixtures
When completing your offer to purchase, it is up to you to state clearly, which fittings and fixtures you would like included in the sale. It is up to your estate agent to negotiate accordingly on your behalf. This will help to prevent misunderstandings and disagreements. The last thing you want to discover when moving into your new home is that the seller has departed with all the fixtures.
2. Not So Obvious
The detailed list of fixtures and fittings in your offer to purchase should also include less obvious items like:
• Creepy Crawlies and other pool cleaning equipment
• Solar system batteries
• Gas stove or fireplace cylinders
• Remotes for garage doors and gates.
Your offer to purchase should also state any repairs to be completed.
3. Better Safe than Sorry
Sellers should remove any fixtures they intend keeping before putting their property on show. This will avoid any backlash from a potential buyer. What the buyer does not see when viewing a property, they are unlikely to expect or assume forms part of the sale.
Under the CPA, sellers are equally entitled to have their say as to which fixtures and fittings they list on the sale agreement.
4. Make Sure
Eliminate doubt and misconception in your negotiations when you buy or sell property. This holds particularly true for fixtures and fittings.
Be you a buyer or a seller, the best way to ensure clarification on these finer details is to have a respected estate agent help you draw up a comprehensive list for your purchase to offer or sale agreement.