The Difference of Real Property and Personal Property
When buying Boise real estate you need to know the difference between personal property and real property. Real property includes everything from the land down to the center of the earth, the air above, everything that is permanently attached, and the bundle of rights that go along with the property.
When buyers and seller negotiate the sale they will need to understand that the real property will be passed along to the buyer and the personal property will go with the seller. Sometimes it can be uncertain what exactly entails personal property. Of course during the negotiation stage personal property can become part of the sale agreement if both parties agree.
For example: you are looking at a wonderful home and wish to buy it. It is vacant and contained in the home is a washer and dryer. You decide to buy the home and everything goes smoothly. You begin to move in and don’t see the washer and dryer. You assumed it was part of the sale but in reality it was never agreed upon. It was the seller’s personal property and they took with them. Now if you were to put into the sales agreement that the washer and dryer were part of the conditions when buying the home you would have been able to know for sure that the seller’s personal property were to come with the house. The point is to not make assumptions when buying a home. If the property is moveable then it is most likely personal property so be very clear when negotiating the a home purchase.
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