Landlords beware of sneaky sellers
Landlords and investors buying new properties should take care when it comes to the fittings and fixtures.
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What constitutes a fixture or a fitting has become a contentious issue, leaving many purchasers outraged when they discover they have been left with much less than they paid for.
Research by Moveme.com showed that one out of three sellers took items they had told the buyer they would leave behind. Among the items removed were garden plants, fridges, built-in cupboards and even stair banisters.
Keith McNeilly, co-founder of Moveme.com, said: “In a strained housing market it's the smaller details that are becoming the big issues. Our research also showed that many vendors are confused about what they can and cannot take with them when they move.
Although they dutifully fill in a fixtures and fittings form for their solicitor, early in the sale process, the details are usually forgotten later on and the ‘if in doubt take it with you’ attitude prevails.
“The price of a property’s fixtures and fittings can add up to a fair proportion of the value of the sale, and while an argument over a £19.99 shelf may seem petty to some, it is important to be clear on what will be taken when the vendor moves, to save both parties time and money, further down the line.
In fact, with a recent survey suggesting the contents of the average garden can add up to £1,237, taking it for granted that expensive plants or garden features will be left behind could prove a costly assumption.”
Moveme.com warned investors to be clear about what fixtures and fittings were included in the final price and ensure it’s all noted in the property details.
Ultimately, it is the buyer’s responsibility to make sure they are aware of what will be included in the sale, so ask lots of questions to ensure you know exactly what you are getting.