To specify exactly what is included in the sale of property in a short blog is impossible. However, for the purposes of this item, we’ll exclude mineral rights and the legal definition of Freehold and Leasehold interests and look at something more basic!
There is no specific definition of what is included and what is not. Neither is there a definite list of items that are fixtures or fittings. However, it is generally accepted that fixtures (attached substantially to the building like light fittings and fitted wardrobes) are usually defined as fixtures and would normally be sold with the house. Fittings are less permanent (such as carpets and curtains or lampshades) and are usually not included in the sale.
Where disagreements break out over this matter it’s usually because of assumptions and a lack of communication. Therefore, it’s worth both parties making some simple precautions. They are;
The Seller should:
The Buyer should:
It is quite possible a seller will leave things you didn’t expect. If that is a garden shed, you may be happy. If the shed is full of old tires, you may not. Never assume. Always clarify.
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Firstly, a big congratulations, you’ve now exchanged contracts! After weeks and months of waiting, you are about to move in. What should you do first?
The chancellor will deliver her second budget this autumn. Due to slow economic growth and high inflation, the government need to manage a £40 billion shortfall in public finances. There have already been reports about changes to taxes including income tax and capital gains tax.