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Real
Estate Contracts >The Sales
Price
After
your search for a house and all the negotiations are over,
you arrive at the the sales price. Finally, you feel some
certainty about your bottom line. However, it is not unusual
for there to be disagreements about what is included in the
sales price. Careful drafting of the paperwork can help to
avoid future disputes.
The following definitions may
help. Real property is land and any permanent attachments,
such as buildings, landscaping and fences. Personal property
consists of movable possessions, such as furniture and
clothing. A fixture is defined as an item of personal
property which has become part of the real property by
virtue of becoming permanently attached, such as a new sink,
a Jacuzzi, or a chandelier.
The principal area of
dispute about the sales price often relates to fixtures.
Most preprinted real estate contracts will provide space for
the fixtures to be listed. Whether you are selling or
buying, you should make use of this space. Do not assume
curtains, satellite discs, antennas or fireplace equipment
come with the house. You should also make it very clear what
you don't want left on the property. If you are specific
about every item that may be questionable, you will greatly
reduce the chances of a dispute after the
closing.
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| Q |
What
is the average price for a home in the United States?
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| A |
According
to recent data published by the NAR, the national
median price for existing single-family homes is now
$230,000. |
 See More Real Estate
Trivia > | |
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- NUMBER1EXPERT™ 
