Personal Property: The MLS is NOT the contract! Argh!!

Personal Property:  The MLS is NOT the contract!  Argh!!

Personal Property is an issue that almost always comes up during a real estate transaction.  In the easiest definition of terms, "personal property" would be anything that is not permanently attached to the home.

Some typical examples of that would be appliances such as a refrigerator that is free-standing, washer and dryer, a free-standing microwave, above-ground spa, potted plants, a free-standing pergola, patio furniture, or in some cases you're crazy Uncle Gooch that lives in the trailer parked behind the garage.

 

Nonetheless, the MLS (multiple listing service), for the most part, was designated for listing the FEATURES of the home.  I.E. - what the home contains, and certain features surrounding the home and/or qualities about the home and it's location.

The important thing to remember is:  THE MLS IS NOT A CONTRACT

What I mean by this is that you cannot simply claim that everything listed on the MLS is automatically assumed or implied to be included in the sale.

A good example is school districts.  Most MLS sites have a section where you can state what school districts and/or actual schools would be associated with the home.  Does that mean the schools are included in the sale?  Is it assumed that you own the school district when you purchase the home?  Hello?!

If it's a wood-burning fireplace, does that mean you automatically own any chopped wood on the property?  If there are solar panels in the description, does that mean they are automatically included in the sale?  No.

The point being THE CONTRACT IS THE CONTRACT.  The MLS is not a contract.  You cannot claim that "it says it in the MLS".  If there is personal property that you are interested in, the you must WRITE IT INTO THE CONTRACT.  (Or in some cases OUT of the contract if there is some ambiguity about something that needs to be removed from the property prior to closing.)

 

Personal property is a very important factor you must consider when crafting a residential purchase agreement.  In contractual law, there are no "assumptions"  A contract must have validity to be upheld.

 

Even if the MLS reads "We hereby and fortwith include the goats, chickens, and our three children in the sale", it means nothing unless it's written into the contract (and in the case of the latter items, approval from social services!)

So many stressful issues can be avoided by just sticking to the contract.  It's so simple.  And even if and when there is an unresolved issue, you can always make an addendum to the contract by mutual agreement.  But again, in the form of a WRITTEN agreement.

There is very much weight to the old saying "put it in writing".

So don't be "goated" on by assumptions........

 

Ralph Gorgoglione / Realtor / HAFA Certified Short Sale Facilitator
Top 3% Realtors Nationwide
 John Aaroe Group  /  BRE #01708344
(310) 497-9407 / (661) 927-7355 / (800) 591-6121  /  Fax:  (866) 470-2717
Web:  RalphandRichard.om  /  Blog:  HomeChitChat.com
 
 
Comment balloon 55 commentsRalph Gorgoglione • October 22 2015 02:44PM
Personal Property: The MLS is NOT the contract! Argh!!
share
Personal Property: The MLS is NOT the contract! Argh!! Personal Property is an issue that almost always comes up during a real estate transaction. In the easiest definition of terms, "personal property" would be anything that is not… more
Valley Village - Average Home Sales Prices - 3 Years Running
share
Valley Village - Average Home Sales Prices - 3 Years Running Valley Village is one of the most unique cities in the Central San Fernando Valley. It often gets confused with it's adjoining neighboring cities - Studio City and North Hollywood. If… more
Burbank - Average Home Sales Prices - 3 Years Running
share
Burbank - Average Home Sales Prices - 3 Years Running Burbank is one of those cities that have a high demand due to it's proximity to the entertainment industry, namely the television and film studios. Burbank homes tend to not only hold their… more
Studio City - Average Home Sale Prices - 3 year running
share
Studio City - Average Home Sale Prices - 3 year running Studio City is one of those cities that have a high demand due to it's proximity to the entertainment industry, namely the television and film studios. Studio City homes tend to not only hold… more
Charming 3-Bedroom Traditional Home with Guest Unit - $399, 000
share
$399, 000, 3Bd/2Ba Single Family House, 1244 sqft. Ralph Gorgoglione / Richard Ruggaber | John Aaroe Group | 800-591-6121ralphgorgoglione@gmail. com | 8752 Aldrich St, Pico Rivera, CA 90660 Charming 3-Bedroom Traditional with Guest… more
JUST SOLD! Arbor Park Valencia Condo - $345, 000
share
$345, 000, 2Bd/1. 75Ba Condominium, 1154 sqft. Ralph Gorgoglione / Richard Ruggaber | John Aaroe Group | 310-497-9407ralphgorgoglione@gmail. com | 23941 Arroyo Park Dr. #192, Valencia, CA 91355 JUST SOLD! Arbor Park Valencia Condo.. more
Uber-charming Valencia Sunrise home - $419, 000
share
$419, 000, 2Bd/2Ba Single Family House, 864 sqft. Ralph Gorgoglione / Richard Ruggaber | John Aaroe Group | 661-927-7355ralphgorgoglione@gmail. com | 23379 Calle Arino, Valencia, CA 91355 Uber-charming Valencia Sunrise home 2Bd… more
JUST SOLD!! - Stevenson Ranch Spyglass Pool Home - $555, 000
share
Single family home in highly desired Stevenson Ranch with great curb appeal. This lite and bright open floor plan with high ceilings, features 4 bedrooms, 3 bathrooms, one bedroom down, formal living/dining room with fireplace, laminate/wood… more
JUST SOLD! Charming condo-by-the-sea - Port Hueneme - $289, 000
share
JUST SOLD! Super-charming 2-Bedroom single-level condo by the sea - Port Hueneme - $289, 000 Double attached garage, HUGE private courtyard, 2 bed/ 2 bath, extra-large master bedroom, golf course, massive recreation center. Amazing ocean breezes!… more
Uber-Charming Central Valencia Cottage Hill home - $559, 000
share
$559, 000, 3Bd/3Ba Single Family House, 1488 sqft. Ralph Gorgoglione / Richard Ruggaber | John Aaroe Group | 661-927-7355ralphgorgoglione@gmail. com | 27130 Baxard Pl, Valencia, CA 91354 Uber-Charming Cottage Hill Home in Central… more