The appliance allowance can be incorporated directly into the contract as a specific stipulation/contingency. The truck is personal property and as such, should not be included in a real property contract. Your agent can provide you with a specific form called a Personal Property Agreement (Bill of Sale) to include in the contract that deals specifically with personal property items that the seller wishes to include in the sale. This agreement is only binding as long as the real property contract is consumated. Otherwise, the personal property contract becomes null and void. The form is provided to realtors through the Tenn. Realtors Association Forms Section. Great question!! Hope this answer helped!
Tina Evans, Principal Broker
The appliance allowance should be addressed so that it does not appear to the lender that the sellers are giving cash to the buyers outside of closing. Here's a solution to the question. The sellers can ask where the buyers intend to purchase the appliances and once they've selected the vendor the sellers can go and pay the funds directly to the store. Lenders have increased their scrutiny to prevent loan fraud.
The Personal Property Agreement is the proper way to handle the free Truck issue.