Do You Know How to Account for Your Personal Property When Selling?

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Hello, and welcome back! 

This video features us helping our client Leslie deal with some personal property items after she had moved away prior to closing. And we are very thankful to her for letting us help with the sale. We did it in just 60 days, start to finish!

The Seller moved fairly far away prior to the close of the transaction which brought up a challenge: "What do I do with my personal property when I sell my home? Both the pieces I want to give away to charity, as well as those items the Buyer wants to purchase?”

This is a great question, and an important one to know the answer to since transferring furnishings to your home Buyer actually has a proper legal “method” to it.

Often, sellers think they can include personal property as part of the contract. However, per Utah real estate law, you have to convey personal property, outside of fixtures, via what is called a “bill of sale.”

This confusing language is why it's so important to work with a good Realtor and title company; they can help you understand the jargon and avoid making any moves that may have legal ramifications.

Fixtures, as mentioned above, include your sink, oven, dishwasher, and other affixed items in a home. 

Personal property, on the other hand, includes things like TVs, couches, beds, and other movable things. You need to work with a good real estate professional and title agency to work on conveying that stuff via a bill of sale, or you will run into an issue with the title company.  

We hope this tip helps you avoid unnecessary stresses when making your move. If you have any questions about this topic, or if you need real estate assistance of any kind, give us a call or shoot us a quick email. We would love to hear from you!