Saturday, December 05, 2009

Fixtures and chattels Agreement of Purchase and Sale Residential Real Estate

This is another good real estate tip regarding fixtures and chattels for your agreement of purchase and sale.

Traditionally buyers get five basic chattels and all the home fixtures when buying residential homes. Lately we have noticed a shift from this trend as sellers now either sell with less or sell with a different set from that with which they staged.

Accordingly we must now pay great attention to what is included or excluded in the chattels and fixtures on the agreement of purchase and sale.

When acting for either party, to ensure clarity of the agreement, it is prudent to not only exclude any fixtures that have been agreed to be excluded but to do so in as much detail as reasonably possible and to also include in as much detail as can be gathered the chattels that are included.

For example using Schedule A of the OREA form of Agreement of Purchase and Sale the chattels and fixtures clause would be phrased as follows:

“Chattels included: The refrigerator in the wet bar being a white Kenmore serial # ______________, the refrigerator in the kitchen being a black Frigidaire serial # ___________, the dishwasher in the kitchen being a black Whirlpool serial #______________, the washer and dryer in the laundry room being stacked white Kenmore series with serial #’s ____________ and _________ respectively and the stove in the kitchen being a black Kenmore serial #_____________.

Fixtures Excluded: the dining room chandelier described as a tear drops crystal glass design, the green Alde shrub outside the master bedroom window aged approximately ___________ , and the glass on the family room fire place”

At first glance this clause may appear overloaded with information but as staging is becoming more and more popular buyers are becoming more wary and prone to assume substations in agreed inclusions. This detailed description gives the buyer comfort that he/she got what was bargained for and the detailed exclusion ensures that the buyer is aware of fixtures that do not form part of the agreement.

Remember to reinforce the golden rule to both parties always:

Fixtures stay unless you exclude them and chattels go unless you include them!

I hope this finds you Happy and Healthy!

All the Best!


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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