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Home Selling in 30078 : Real Estate Advice

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Activity 5
Sun Jan 24, 2016
Solomon Greene answered:
Trulia sources property information from the tax records of the construction provided by the original builder. Those records are updated when any permitted work is done after construction.

One common source of confusion is what is and is not a bedroom. The basement is also another area that often needs an explanation. I welcome the opportunity to speak with you about the incorrect information. If there is interest, please call me.

Thanks
Solomon Greene
678-775-2677
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Thu Sep 10, 2015
Jeri Patrick answered:
I would take to your agent regarding this most buyers will have there own furniture they may want to purchase a few items from you.
0 votes 13 answers Share Flag
Fri Mar 6, 2015
Kim Carnagey answered:
YES Disclose! There should be a separate form to go with the contract about the non-Real Estate items being purchased in the sale.
0 votes 5 answers Share Flag
Mon Sep 26, 2011
Karsten Torch answered:
If you're buying a home and putting anything on the offer or contract that will come with the house, use a personal property bill of sale form. List out the items, make sure to put $0 value next to each piece. Very important. Don't leave blank, our the bank has the option of going in and assigning whatever value they want. This can cause problems. ... more
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Sat Jun 11, 2011
Karsten Torch answered:
The answers here are correct, but let me throw something in. You'll need to do a Personal Property Bill of Sale, write down the items included, and make sure to have the prices at $0. If necessary, roll the price of the furniture into the price of the house, if you haven't submitted that contract already. The reasons for this are multiple. One, and it's not a tax issue on your end, since you don't need to worry about that unless you're actually making money on your furniture above and beyond what you originally paid for it, but it is a loan issue. It can affect the terms and down payment amount of the loan. Also, it just muddies the waters, so it's generally easier to keep it simple and let the furniture go for free.

Of course, if the contract is already done and submitted, and the buyer is paying cash for the furniture, then it's really not that difficult, just do the contract and call it a day, just don't submit it with the other paperwork. It's technically none of their business. And again, unless you're actually making money off the furniture, no tax implications.

Just to cover my butt on this, check with an accountant, but I'm pretty sure I'm right on the tax part....
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