A Purchaser’s offer has been accepted by a Vendor and contracts are being organised to be signed, but what actually are they buying?
Yes, when a Purchaser buys a property they get the title and that gives them the right to the land and anything on it, including any dwellings. However, it does not give the Purchaser the right to everything they saw during the inspection.
Now, this is where arguments can start between the Vendor and Purchaser when assumptions are made about which items are going and which are remaining with the property.
The items in question are referred to in a Contract of Sale as Fixtures and Fittings or Goods and Chattels. Generally, a simple explanation of these terms is – Imagine you took the house and tipped it upside down. Then whatever falls out, doesn’t stay with the house when you take possession.