The Facts on Fixtures and Fittings

The legal bit

What exactly are fixtures and fittings? We are constantly being asked to clarify this topic.What should people take or leave behind, and what should they hope to find in their new property? This can cause some confusion and may even become quite contentious. There is not a definitive law to express exactly which items should be taken or left behind during the sale or purchase of a property.

There are always different expectations with regards to this issue. It is prudent to clarify exactly what will be included at the start of the sale proceedings. Legally speaking the seller is not obliged to leave any fixtures or fittings behind, but the onus is upon them to state exactly what they are prepared to leave. A good way to avoid any misunderstandings is to create an inventory which is then attached to the sales contract. This lets all parties know in black and white exactly what the score is.

If this inventory is not formed, it can lead to assumptions and misunderstandings, if you have removed something that was thought to be remaining, you could actually find yourself in a small claims court!

What is a Fixture/Fitting?

A fixture is understood to be any item that is bolted to the floor or walls, a fitting is any item that is freestanding or hung by a hook or nail.

Below is a list of items that usually fall into these categories.

Fixtures

Light fitments

Central-heating boilers and radiators

Built in wardrobes/cupboards (e.g. if they use a wall to form one of their sides and would thus be incomplete if they were removed)

Bathroom suites (sinks/baths/toilets)

Plugs

Kitchen units

Wall paintings

Fittings

Fittings

Paintings or mirrors that are not bolted but hung or screwed to a wall.

Carpets

Curtains and curtain rails

Free-standing ovens, refrigerators and washing machines

Beds/sofas and other free standing items of furniture

Lampshades

Television aerials and satellite dishes

How to Negotiate

Ascertain from the outset which items are fixtures and which are fittings, this will avoid confusion at a later date.State coolly and calmly which fixtures and fittings you would like to remain in the property, many a sale falls through due to a disagreement over the finer details.

Having a friendly demeanour when discussing these matters will certainly make the opposite side more accommodating.

Consider which fixtures and fittings you really want to take with you, it is quite pointless insisting on keeping the shower door if you are going to get rid of it as soon as you move house.

Don’t make unreasonable demands, it could strain the relationship that you have, and make any further negotiations difficult to say the least.

As soon as firm decisions have been made with regards to the fixtures and fittings, it should be logged down to avoid any confusion or contentions further down the line.

The issue of fixtures and fittings is not a small one, these items can add up to thousands of pounds and may make a big difference to the monetary worth of a property.

To replace all fitted and freestanding furniture, central heating fixtures, telephones, curtains, curtain poles, satellite dishes, fireplaces and external dustbins would probably cost the buyer somewhere in the region of £15,000.

It is definitely worth taking the time to clarify these details. It will most certainly be well worth your while. It will avoid any unnecessary disagreements and possibly legal trouble further down the track, not to mention saving you money!

Average price of a house is now £162,096, falling 3.6% last month.

House prices in the UK fell 3.6 per cent last month, according to the Halifax survey, marking the biggest monthly fall on record.The average price of a house is now £162,096.

This has increased the fear of a housing market crash in the fragile British economy, which is awaiting the Government's Comprehensive Spending Review that could result in extensive cuts to public spending and the loss of thousands of public sector jobs.

However, Halifax downplayed the significance of the record figure saying quarterly figures, rather than monthly measurements, provide a better assessment of underlying trends.House prices in the third quarter of 2010 were 0.9 per cent lower than in the second quarter of 2010, said Halifax's chief economist Martin Ellis.

According to him, it is too early to conclude that September's fall marks the beginning of a sustained period of declining house prices. Reports note that the survey's finding of the record decline has come just a day after the International Monetary Fund warned that UK house prices remained too high and could fall.

Conveyancing Advice

The majority of client’s main concern is how long the conveyancing process will take.
Conveyancing solicitors should always do their best to work to your particular time frame, but this is dependant on the particular circumstances of your conveyancing transaction.

Industry statistics would suggest that a standard sale or purchase will take between six to twelve weeks to complete. This may, however, vary.
A remortgage or transfer of equity transaction should take less time but this is not always the case. Please be aware that where other parties such as mortgage lenders are required to execute documentation, then delays are inevitable in most instances.

It is of course possible to complete conveyancing in a shorter timescale. However, all parties must but be committed to these timescales, and in working hard to achieve them.
Complications, such as mortgage finance being arranged, can delay progress and can affect the desired timescale from being achieved.

If your conveyancing is of an extremely urgent nature, you should discuss time saving options with your conveyancing solicitor who should provide you with the appropriate legal advice if you decide to proceed in this way.

Please note that if additional work is required to achieve your expectations your property lawyer may need to charge you extra conveyancing fees. Your solicitor should inform you of such increased legal fees and disbursements.

At Convey Law , we will never be in a position to guarantee that your required timescales will be achieved, no matter how much extra work is undertaken by us. We do however promise to do our utmost to bring matters to a speedy conclusion. Please advise your conveyancing solicitor in writing at the beginning of your sale or purchase if timescales are an issue to you.

Just how much of the asking price are people paying out?

On the list of trickiest chores for anybody searching for a house is working out how much of an asking price the vendor is actually seeking to receive.Take a look at your regional property market and there will clearly be some homes which are heavily overpriced and several which have been placed on at a price which should make sure they sell quickly.In many cases and certainly right now, the latter is far rarer than the former.

When it concerns selling and buying,you don’t wish to accept less than the maximum for your home, nevertheless, you would like those people selling the properties you are considering, to wake up and lower their absurdly high prices.The problem is an investor who may have turned a large profit, will need a lower price than an owner occupier who needs as much as is possible to maneuver up the ladder.

An individual wanting to desperately be free from a mortgage they're not able to afford will typically take an offer that basically clears the debt.On the other hand homeowners who wish to trade up, but don't have any pressing need to and like where they live, are a lot more unlikely to take a low offer.

That makes it a good idea when seriously thinking of buying somewhere to find out as much with regards to the sellers and their motivation as possible and be ready to accept that although some will take a cheeky offer, others will sit tight.Homeowners looking to move in the same popular area, need as much as possible to bridge the gap upwards.Low interest rates are keeping many out of the forced sellers bracket.

But things are changing according to the latest Hometrack report. It says sale prices as a percentage of asking prices are falling and properties are remaining on the market for longer.