Wednesday, December 05, 2007
When buying or selling property, what counts as a Fixture and Fitting by Lawrenson of LettingFocus
When it comes to selling property, people really can do the strangest things and incredible meanness and downright stupidity is often the order of the day. And, this is especially true when it comes to fixtures and fittings.
According to the Halifax, 4% of vendors remove the number plate, 8% remove all light bulbs and 26% remove plants.
Chattels Definition Not Clear
The problem is that what constitutes the “chattels” that are within a property is not always clear and in most cases, the only way of resolving it is by the vendor attaching to the sales contract a detailed inventory of what is included in the sale.
The Law Society produces a standardised form for sellers to use and this should remove most disagreements. The form is six pages and covers just about everything you can imagine.
However, a vendor can still exclude something from a sale, as long as he makes this clear to the buyer. He can even take away the house and leave just the land.
If there is no list prepared by the conveyancer, then the contract of sale implies that fixtures can be left but fittings can be removed.
Fixture
OK, so what is a Fixture?
Items that are attached to the property count as fixtures and are treated as part of the property. Fixtures are generally accepted to include the boiler, radiators, sinks, baths and lavatories. In the kitchen any units that are physically bolted onto the floor or walls also count.
Wardrobes that are physically fitted into a space - i.e. which use one or more wall as a side and which would be incomplete if removed would count as a fixture too. Light fitments and fitted shelving also count as fixtures.
Fittings
Fittings would cover mirrors that are screwed to a wall, carpets, curtains and curtain rails, cookers which are free standing, lamp shades, ovens, refrigerators and washing machines. TV aerials and satellite dishes are also usually classed as fittings.
If you are a buyer, first, assume nothing is included when you make an offer.
Second, make it clear to the agent what the offer will include but try to be reasonable. If there is something that you really like in the house, be aware that the vendor may like it too and may want to take it with him. In this case make a reasonable offer.
Third, it pays to know something of the vendor’s circumstances. If he is moving to a smaller property or say is going travelling for a few years, he will probably be happy to get rid of things for no money at all. It will save him hassle and storage costs.
In this case, the best course of action may to offer nothing for the items, but once your offer has been accepted, tell the vendor that you will be happy if he leaves them in the house. But if you do this, make sure they are included in the list of fixtures and fittings to be sold.
Fourth, check the fittings and fixtures list carefully to make sure everything you want has been included on it. If it hasn’t get it included.
Fifth, if you are buying anything electrical make sure it works and is safe. Ask to see a demonstration. In my experience vendors are very keen to ask for silly money for fridges and washing machines that are on their last legs.
Haggle Time
If you are a seller, first itemize for the agent what you are selling. You should normally exclude expensive fittings like curtains and negotiate on those separately. Also, negotiate over other expensive built in items.
Second, don’t strip the property bare.
Third, don’t try to avoid higher stamp duty by selling a house at say £245,000 and then charging £5,000 for chattels that are only worth £500. Doing this will get you in trouble with HMRC!
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the property experts and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property book for the last 3 years.
What’s unique about LettingFocus is that I offer independent unbiased
property seminars covering property investment and letting because unlike most people in the buy to let and property “advice” business I am not linked to a property company, developer, agent or bridging loan financier.
I can tell you where to buy (which areas), what type of property to buy, when to buy, how to buy property at a low price, how to make sure you get tenants who are going to pay the rent and how to manage a rental property to make money.
I can answer most questions on letting property because I have been a landlord and property investor myself for over 25 years.
LINKS
IF YOU HAVE A SITE WHY NOT LINK TO US!
Find out about GREAT OFFERS we have arranged for landlords by clicking here: Services for Landlords and seeing our Landlords’ Affiliate page. If you sell products to landlords and property investors and you have national coverage, get in touch!
For SEMINARS click here: Property Seminars, Networking Evenings and Consulting
Our Events only take place twice a year. For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Seminar Event
For ONE TO ONE ADVICE click here: Private One to One Consulting
For Past CLIENT TESTIMONIALS from past customers click here: Testimonials
To BUY THE BOOK click here: Buy the Book at Amazon
For THE HOME PAGE OF THIS BLOG click here: Blog
For THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
For GREAT OFFERS on Products and Services for Landlords, click here: Landlords Resources
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
Copyright of Blog: David Lawrenson 2009.
This blog is updated roughly once a week usually on a Monday or Tuesday.
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
Over on the right hand side under all the previous blog entries you will see a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.
If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)
To view posts on related topics select a “Category” at the bottom of this page.
WANT TO ADD A COMMENT?
To add a comment to this post, you just click on “link to this post” then simply add your comment.
To view past comments, again, you’ll need to click “link to this post” and view comments (which will appear at the bottom of the post.)
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.
According to the Halifax, 4% of vendors remove the number plate, 8% remove all light bulbs and 26% remove plants.
Chattels Definition Not Clear
The problem is that what constitutes the “chattels” that are within a property is not always clear and in most cases, the only way of resolving it is by the vendor attaching to the sales contract a detailed inventory of what is included in the sale.
The Law Society produces a standardised form for sellers to use and this should remove most disagreements. The form is six pages and covers just about everything you can imagine.
However, a vendor can still exclude something from a sale, as long as he makes this clear to the buyer. He can even take away the house and leave just the land.
If there is no list prepared by the conveyancer, then the contract of sale implies that fixtures can be left but fittings can be removed.
Fixture
OK, so what is a Fixture?
Items that are attached to the property count as fixtures and are treated as part of the property. Fixtures are generally accepted to include the boiler, radiators, sinks, baths and lavatories. In the kitchen any units that are physically bolted onto the floor or walls also count.
Wardrobes that are physically fitted into a space - i.e. which use one or more wall as a side and which would be incomplete if removed would count as a fixture too. Light fitments and fitted shelving also count as fixtures.
Fittings
Fittings would cover mirrors that are screwed to a wall, carpets, curtains and curtain rails, cookers which are free standing, lamp shades, ovens, refrigerators and washing machines. TV aerials and satellite dishes are also usually classed as fittings.
If you are a buyer, first, assume nothing is included when you make an offer.
Second, make it clear to the agent what the offer will include but try to be reasonable. If there is something that you really like in the house, be aware that the vendor may like it too and may want to take it with him. In this case make a reasonable offer.
Third, it pays to know something of the vendor’s circumstances. If he is moving to a smaller property or say is going travelling for a few years, he will probably be happy to get rid of things for no money at all. It will save him hassle and storage costs.
In this case, the best course of action may to offer nothing for the items, but once your offer has been accepted, tell the vendor that you will be happy if he leaves them in the house. But if you do this, make sure they are included in the list of fixtures and fittings to be sold.
Fourth, check the fittings and fixtures list carefully to make sure everything you want has been included on it. If it hasn’t get it included.
Fifth, if you are buying anything electrical make sure it works and is safe. Ask to see a demonstration. In my experience vendors are very keen to ask for silly money for fridges and washing machines that are on their last legs.
Haggle Time
If you are a seller, first itemize for the agent what you are selling. You should normally exclude expensive fittings like curtains and negotiate on those separately. Also, negotiate over other expensive built in items.
Second, don’t strip the property bare.
Third, don’t try to avoid higher stamp duty by selling a house at say £245,000 and then charging £5,000 for chattels that are only worth £500. Doing this will get you in trouble with HMRC!
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the property experts and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property book for the last 3 years.
What’s unique about LettingFocus is that I offer independent unbiased
property seminars covering property investment and letting because unlike most people in the buy to let and property “advice” business I am not linked to a property company, developer, agent or bridging loan financier.
I can tell you where to buy (which areas), what type of property to buy, when to buy, how to buy property at a low price, how to make sure you get tenants who are going to pay the rent and how to manage a rental property to make money.
I can answer most questions on letting property because I have been a landlord and property investor myself for over 25 years.
LINKS
IF YOU HAVE A SITE WHY NOT LINK TO US!
Find out about GREAT OFFERS we have arranged for landlords by clicking here: Services for Landlords and seeing our Landlords’ Affiliate page. If you sell products to landlords and property investors and you have national coverage, get in touch!
For SEMINARS click here: Property Seminars, Networking Evenings and Consulting
Our Events only take place twice a year. For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Seminar Event
For ONE TO ONE ADVICE click here: Private One to One Consulting
For Past CLIENT TESTIMONIALS from past customers click here: Testimonials
To BUY THE BOOK click here: Buy the Book at Amazon
For THE HOME PAGE OF THIS BLOG click here: Blog
For THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
For GREAT OFFERS on Products and Services for Landlords, click here: Landlords Resources
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
Copyright of Blog: David Lawrenson 2009.
This blog is updated roughly once a week usually on a Monday or Tuesday.
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
Over on the right hand side under all the previous blog entries you will see a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.
If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)
To view posts on related topics select a “Category” at the bottom of this page.
WANT TO ADD A COMMENT?
To add a comment to this post, you just click on “link to this post” then simply add your comment.
To view past comments, again, you’ll need to click “link to this post” and view comments (which will appear at the bottom of the post.)
Copyright: David Lawrenson 2007. This blog is updated at least twice a week. Permission must be sought before using the material in the blog.
Labels: buying and selling property, chattels, Fitting, Fixture, fixtures and fittings, Property advice, property conveyancing
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