Quote:
Originally Posted by Mark1130
I made an offer today on a turn key CYV. Very excited about it but my TV agent said that I cannot separate the furnishings from the sales price of the home. She said the appraiser would not give the furnishings any value.
How do I get them to separate the values?
|
The sales price of the home is what it is - all-inclusive turn-key home. Maybe my prior post about the "separation" wasn't expressed well - sorry!
To try to clarify: The purchase price of our villa was $X which included all the furnishings, etc. That's what we paid the buyers. Ours was a FSBO so there were no realtors/commissions involved. If your realtor is thinking that they'll get shorted on their commission because you're wanting to reduce the amount of the house sale transaction and pay the sellers separately (outside of the house sale transaction) for the furnishings, that's not what we did.
Where the separation occurred was on the HUD/Settlement Statement. See the pdf:
http://www.hud.gov/offices/adm/hudcl...ms/files/1.pdf
On this sample form, lines 102 and 402 are where the personal property amount would be listed. The 'Contract Sales Price' amount (lines 101 and 401) would reflect the agreed upon purchase price of everything ($X) less the agreed value of the furnishings.
Now......what sales figure is used to compute the realtor's commission would be up to all parties involved in the transaction. JMHO!
I hope that helps.........but maybe it doesn't!! The law firm that handled the closing had no issue with it - seems they handle such things on a regular basis.
Bill
