Goods and Chattels

(AKA - )

What stays and what goes when you buy a property?

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.

The items that fall out (movable items) are the Fittings or Goods that the Vendor can take with them and the Fixtures or Chattels are part of the property (fixed items) and stay with the property at Settlement.

So, generally speaking, if a dishwasher or clothes dryer is free standing it is a Fitting however, if it is fixed (mounted under a bench or bolted to the wall) it is a Fixture and stays with the property. But you can’t expect the big plasma television in the lounge room to be part of the sale.

 

You can see by this example it can be quite confusing and complicated. That’s why, when you buy or sell a property, it is important to complete the section of the Contract concerning Goods and list items which are either staying or going. This will help prevent disputes because of different expectations and assumptions between the parties.

Experienced Agents, who are proactive and have excellent communication skills, such as our Sales Consultants at One Agency Robert Mure, will negotiate Contract terms between the parties to help avoid any arguments or misunderstandings.

If you are looking to sell or buy, please contact our friendly, qualified Sales Consultants for a no obligation, confidential chat about your real estate needs.

                              email: kooweerup@oneagency.com.au                                  web: oneagencykooweerup.com.au

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