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My realtor suggested making little tags for each piece of furniture to let the potential buyers know which pieces are for sale. Any suggestions as to what the tags should say? I don't really want to mention anything about price, I'm just not sure how to word it ("this piece for sale with house" etc) What would sound good?
I think what I would do is instead of making tags, make a list of items are that on sale in your house and place it on the kitchen countertop with a header stating that the following furniture can be negotiated with the price of the house. Example may be:
Unless this is a resort/vacation home property, I would not do this until there was a contract on the house. People often become fixated on the furniture, instead of the house.
Be very careful though, the buyer can get into trouble with this. They can NOT finance the furniture in their mortgage! The bank will not allow the furniture to be in the price of the house, so it can not be on the purchase agreement. They can buy the furniture outside of the sale of the house, but not within their mortgage.
You can include the furniture in the Purchase Agreement. Just be aware that the appraiser will not consider the furniture in the value of the house, so the appraised (market) value of the real estate may be lower than the total purchase price that includes the personal effects.
I have put furniture in contracts, but there is a line that states they are in there with no value.
Honestly, I agree with MAM. It is very distracting, and I had clients that loved someone's dining room table and not the house. They were very focused on it. It is better to just let your agent other agents know when they call with an offer that some of the furniture is for sale as well.
Are you looking to sell your house or sell your furniture?
Combining the two will mean one will go for less than full market value, because it's unlikely you'll get a buyer who will pay top dollar for your house AND loves your furniture and will pay top dollar for it AND doens't have his/her own furniture to bring with them.
If I was a buyer, I'd include the furniture in the purchase agreement but not add any dollars on for the house than if it didn't have the furniture (in other words, ask for the furniture to be included for free). Some might think that's cold, but that's where I start the negotiations.
We sold a lot of our furniture when we moved 3 years ago. We made a "catalog" with pictures, description, and prices and distributed to people we know, then they distributed to people they know. We also gave a copy to the buyers, separate from house contract. The buyers bought several pieces and paid us with a separate check. Other things that our friends and their friends wanted, we sold beforehand, first come first serve. It worked out well for us. Almost all of the furniture was less than 2-5 years old, in excellent condition, at 1/2 price or less so it moved quick.
We also left the fridge and a large TV, in lieu of small fixes, for the buyers - that was included in the contract. The furniture we did as a separate sale.
IMO you will make more money (who can't use that!) if you take some pics and post is on Craigslist... I think the Austin one would be your area. it is easy to do...dm if ya decide to and need help
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