Are Personal and Real Property Different?
Through my training I have come to understand many terms that had previously eluded me. Two of those terms, which on the surface appear very similar, are personal property and real property. The difference is subtle, but important when determining what items are staying with a property or what is going to be leaving when the sale is complete.
Personal property is broken down in simple terms to mean anything that is movable or unattached to the land. There can be tangible personal property (cars, yachts, championship rings or horses). Other personal property is intangible (stocks, notes, mortgages or leases).
Principal Broker watches as hardwood floors are installed
The other type of property is that of real property and it is simply anything that is not-movable and attached to the land. This can include permanent plantings, such as trees, perennial flowers and grasses. Fixtures are also real property, because they are attached. Items that were once personal property, such as bricks, mortar and 2x4's for a wall, can become real property once they have been made into a wall and now are part of the land.
Developments, including housing and other buildings are also considered real property and will convey with the property, because they are not able to be moved. Contact Nesbitt Realty to acquire your next dream real property and you can have a new place to put all of your personal property. Is this the year to step up and get the home of your dreams?
Featured Home for Sale in Old Town Alexandria
The U.S. Department of Housing and Urban Development (HUD) says that since so many details, especially financial ones, are involved in buying and selling a home, using a real estate agent is a good idea because that professional can be a guide throughout the process, making the entire process and experience so much easier.
The key to a successful and positive experience with a real estate transaction in {Location_Name} is finding the right professional to assist you. While a real estate agent can meet your needs, the services of a Realtor® in {Location_Name} will suite your needs even better.
What’s the Difference Between a Real Estate Agent and a Realtor?
Of the more than two million people who have earned real estate licenses, only a small percentage of them are Realtors. Realtors, who are members in good standing of the National Association of Realtors, their state association of Realtors, and a local real estate board, are held to high standards of ethical behavior and undergo continuing education annually to remain accredited.
All agents of Nesbitt Realty are Realtors!
What Does a Realtor Do?
Law requires Realtors to:
perform necessary and customary acts, in good faith and with reasonable care, to assist in the purchase or sale of real estate.
properly account for money or other property placed in his or her care.
disclose “adverse material facts” which are, or should be, within the agent’s knowledge.
Realtors can assist buyers in many ways. One such way is keeping buyers informed on all the latest listings, to which Realtors gain access as soon as they are listed on the market. Realtors will also be familiar with all the information you may want regarding the area of your potential home, which may include school quality, community safety, traffic volume and commute time, accessibility to shops and public transportation, and proximity of local parks and recreation. When a buyer is ready to purchase a home, Realtors can help you pre-qualify for a mortgage, weigh the pros and cons of the varying types of mortgages, and walk you through the complicated paperwork involved in real estate transactions.
Realtors can also assist sellers with listing and preparing to sell a home, screening potential buyers, and showing investors properties that suit their investing profiles.
Through efficient organization and coordination of meetings with potential buyers and sellers, Nesbitt Realty can quickly locate the perfect home for you or sell your home in the shortest time possible.
