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selling furniture

Posted by Dr. Rodney K.Elkins on May 23, 2011 at 4:23pm in Short Sale Discussions

what are your thoughts on Seller's asking to not include the furniture ( I realize this is more common in Beach towns where condo's are often sold furnished) so they can sell "outside of contract"?

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Replies

Kimberley Kelly May 25, 2011 at 2:21pm

It is becoming more and more common for my Short Sales here in the California desert to sell furnishings outside of Escrow. It is personal property, was not included in the home originally and at least recoups the Sellers something!
Jeff Payne May 24, 2011 at 6:35am

I agree with Bryant, the sellers are free to sell their personal property separately. Some condos were sold and financed as furnished units and that could cause a problem but most likely not.
Bryant Tutas May 23, 2011 at 11:38pm

Rodney. Furniture is personal property. I just sold a vacation home and we sold the furniture separately for $5,000. We used the money to pay off other bills related to the purchase. If it's not part of the collateral then it can be sold.

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