Fixtures and Fittings

Fixtures and Fittings ….

Every Offer To Purchase (‘OTP’) has / should have a specific clause where the Purchaser and Seller agrees on which fixtures and fittings to be included or excluded as part of the Sale Agreement. This is done by mutual agreement on presentation of the OTP. Once the OTP is signed by all parties involved it becomes very difficult to change any clauses or conditions and must therefore be done prior to acceptance. Sellers should, as part of the Mandate Agreement be advised by their agents to specify any inclusions or exclusions of fixtures and fittings in the mandate agreement so that prospective purchasers can be informed accordingly when viewing the property.

To make this process easier, our OTP includes the following items as standard fixtures and fittings thatMAY NOT be removed unless otherwise specified in writing. The specific clause reads as follows ….

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“The Property is sold with all fixtures and fittings of a permanent nature, which the Seller warrants are fully paid for, and owned solely by the Seller, including all existing garden trees / shrubs / plants, stove, electrical light fittings / shades and (if any) curtain rails / rods / pelmets / blinds, swimming pool equipment / filters / motors, fitted carpets, fitted kitchen storage units, post box, electrical geyser(s), TV aerial, DSTV satellite dish, burglar alarm system, door-bell / knocker, keys and remotes. All electrical items are to be in working order on date of occupation. The purchaser is aware that the radio transmitter connected to the alarm system (if applicable) is the property of …………………………………………Security Company”, where the radio transmitter is therefore excluded.

The OTP also gives the Seller / Purchaser the opportunity to specify any inclusions / exclusions to this clause. Inclusions would be any NON-fixtures that will be sold with the property. Exclusions would be any fixtures that will be removed are not sold with the property. Apart from the items mentioned in the clause above, fixtures and fittings in general can be understood as being as the following:

Any items that form part of the permanent structure of the property such as built-in cupboards and vanities, mirrors, towel and curtain rails, blinds, shutters, light fittings & switches, light bulbs, security systems, built-in heaters, fans and air conditioning systems, gate / garage door motors & automated systems or anything that is bolted, nailed or screwed onto the property can be seen as fixtures. If, for example, there are bathroom cupboards hanging on the walls of the bathroom with towel rails attached to the cupboards, Purchasers viewing the property could assume that these cupboards and rails are fixtures as they won’t know if the cupboards are bolted to the wall or hanging on screws / nails like portraits / paintings. Sellers might think that these are non-fixtures and remove them causing huge frustration and unhappiness when the new owners take occupation.

According to our OTP the complete DSTV dish or any other antennas / dishes, brackets and cables are also seen as fixtures and therefore, unless excluded, are sold with the property. As previously mentioned, the Seller should exclude all of these items during the listing and mandate process and prior to signing any OTP in order to avoid unnecessary unhappiness and disappointment later on.

Should any items, deemed to be fixtures, be excluded, the purchaser may request that it be replaced by the Seller with a suitable alternative / replacement item. Take the DSTV dish for example: If the Seller has a very expensive, multifunctional DSTV dish and “LNB” combination and he / she would not like to sell it with the property, it should be excluded in writing and replaced with a suitable replacement / alternative system if necessary. The Purchasers may also request that should any fixtures be removed from the walls of the property where it was bolted onto the walls, that the holes be filled and the walls painted, or not, depending on what has been agreed. Purchasers may also decide to include certain items that are non-fixtures such as loose standing cupboards, pot plants, curtains etc. which the Purchasers may or may not agree to.

All the above should be negotiated and written into the OTP prior to finalizing and signing of the OTP to avoid any future misunderstanding.

We hope that you find the information useful. Happy selling. If you need any assistance with the sale of your property in the Roodepoort, Gauteng area, please do not hesitate to contact us:

Marnus Steyn: 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn: 083 604 1231 / juanita@steynrealty.co.za

To view all out available stock, please visit our website at www.steynrealty.co.za

You can also like and follow us on Instagram, Twitter and Facebook at @steynrealty

Are you pricing yourself out of the market??

We live in the information age where information such as property values can easily be accessed by the public without the help of an agent or agency. Looking at the information on the various websites such as Property24 and Private Property, buyers can see which properties are well priced within the area where they are shopping. They won’t waste their time going to see the properties which are over-priced and will only focus on those ones that are priced according to the area average. There are some stunning properties out there but “PRICE” is still the main factor that will attract buyers.

If buyers are so well-informed, surely SELLERS should also be …. or not? As a seller, before you blame your agent for not selling your house quick enough, have you done the following?

  1. Do you know which properties in your street have recently sold and for how much?
  2. Do you know which similar size properties in your complex or estate have recently sold and for how much?
  3. Have you seen the condition of any of these properties that have recently sold around your property?
  4. Have you had a look on the websites, in the area where your property is situated, what the properties are listed for and how long they have been listed for? These properties will be your competition should you decide to list.

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A professional and experienced agent can assist you with all of the above and can provide you with the information, they also use their experience and industry knowledge to recommend a marketing / listings price at which the property should be marketed to get maximum exposure. By doing some of your own homework you will also see which agents are just out to “Buy” a mandate on your property and which are serious about their business. Give yourself enough time and evaluate the various valuations from as many agents as possible.

Don’t get sidetracked by the sales pitch …. Look at the marketing price and compare it to your own homework.

Factors such as the area, location, specifications, offering, overall condition, finishes and security (to mention a few) are also very important in determining the price but in the end, if two properties offer the same and they were listed for the same price, the property that is in a better condition will sell quicker at a price closer to the asking price (or even for the full asking price) than the one that is not in a good condition. If the one which is in a good condition is far over-priced, out of the area average / market buyers won’t be interested.

Fashionable_Businessman-051.pngBottom Line: Properties that are priced correctly will sell within 12 weeks of being listed ….. If it hasn’t sold within 12 weeks, your problem is the “PRICE” and your agent should have alerted you to this. Ask yourself the following question: “As a buyer, looking for the type of property that you are selling, would you consider buying your own house at the asking price you are asking?”.

For an honest, free, no obligation assessment in writing of the value and possible selling price of your property in any area from Sterkfontein, Honingklip & Pinehaven in Krugersdorp & Roodepoort all along Hendrik Potgieter to Radiokop & Allen’s Nek including Helderkruin, Constantia Kloof, Kloofendal and Weltevreden Park …. give Steyn Realty a call, we can assist. We also specialize in rental portfolio management and procurement of tenants.

Marnus Steyn / 072 264 7806 / marnus@steynrealty.co.za

Juanita Steyn / 083 604 1231 / juanita@steynrealty.co.za

http://www.steynrealty.co.za

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