Do You Have Any Tips About Reserving Items for the Buyer?

In our last post/blog entry, we discussed some tips to reserve items on behalf of the Seller.

In this post/blog entry, we continue that thought on the Buyer’s side.

Similar to the recommendation for Sellers, a Buyer’s agent will want to think three-fold:

  1. Detailed pre-showing list;
  2. Detailed discussion; and
  3. Detailed post-showing list.

 

The same “pre-list list” that you use as a Listing Agent, you can use as your “pre-showing list” when you are the Buyer’s Agent.

(Again, for our complete list, please email Julie@TutenTitle.com)

You’ll carry this list with you as you and your client walk around the property and discuss all the various items on the list to determine which items the Buyer wants to stay and which items the Buyer is okay if the Sellers take with them.

Just like for the Sellers, the “General-Rule-of-Thumb-Catch-All” for Buyers is:

If you can grab it and move it, there’s a chance the Seller will take it (even if they don’t reserve it).

So, be sure to discuss these items with your Buyer and include them in the Offer if your Buyer wants the items to stay with the house.

Items in this category might include:  Flat screen TVs that hang on a wall-mount; undermount wine cooler that can roll in and out of place; a movable kitchen island; removable AC window unit; etc.

Practice tip:  as you walk around the house, take pictures of each item your Buyer wants to remain with the house. 

You can then submit these pictures with your offer by using words in Lines 20-22 of the Purchase Agreement that state something similar to:

Buyer and Seller agree that the household items shown in the attached pictures numbered 1 through _____ are part of the Purchase and Sale of the property and shall remain with the house.

Why take pictures?  Because a picture speaks a thousand words.  If you take a picture of a Thermador refrigerator and during the final walk through there is a GE in its place, guess what the seller has to do?  They have to put back the Thermador!

Why number the pictures? This will serve as a double check method to make sure you send all of the pictures over to the Listing Agent.  For example, if you say pictures numbered 1 through 13 and you only send over 10 pictures, the Listing Agent will call and ask where the other 3 pictures are.

Why include this list in Lines 20-22 of the Purchase Agreement? Because the words, “The following movable items here remain with the property, but are not to be considered as part of the Sale Price and have no value,” should get you past any Lender concerns about the Buyer making the items part of the Sale of the property.