What Do You Mean the Chandelier Isn't Included? Part 1
Antique furniture can be such a hassle. It’s expensive. It often requires restoration. And it needs to be constantly kept up. Maybe that’s what motivated a recent seller to take the chandelier with him when he moved out—perhaps he thought he’d spare the seller the headache. Unfortunately, he didn’t share this news with my client.
I just closed a deal in Bel Air. The purchase moved along and my client couldn’t wait to move into her dream house. After years of being her broker, Julie was someone whom I considered a close friend. I’d been on the look out for months until I discovered a home that was exactly what she was looking for.
Julie bought the estate for $12 million. Not cheap, but worth every penny. The home had every luxury amenity from a screening room to a resort-like backyard. Considering how much the property had in it—audio and video equipment, gym machines, and furniture throughout—agreeing on what would remain in the home took a lot of negotiation. We had settled a deal and escrow was nearly complete…until I received a phone call.
The seller’s agent said that his client planned to pack up the massive chandelier when he moved out.
“What do you mean, he’s taking the chandelier?” I asked. I shared that the seller had no right to chandelier. Being bolted to the ceiling, it was clearly part of the home. Legally, it was clear that my client owned the fixture.
The seller's broker knew I was right. The seller hadn't revealed the fact that he planned to take the light fixture with him, and so it was never stated in the paperwork. But in real estate it's not always about who's right. In this business, compromise and adjusting to change are the only constants.
“Myra, he says that it’s a family heirloom and he wants to leave it to his family,” the broker told me.
“But do you understand the inconvenience your putting my client through? She’ll have to hire a decorator and an electrician, not to mention that she probably liked it in the first place,” I said.
Eleventh hour moves like this are all too common in our business. From antique chandeliers that will be stripped from the ceiling to outdoor statuary that will be packed in a U-Haul, in real estate, you’ve got to always be prepared.
In the case of the light fixture, I knew that this could possibly be a deal killer. But I’ve learned that there is always a positive spin you can take on things. I told the seller that I’d speak with my client. ♦Digg it ♦del.icio.us ♦Add to Technorati Faves
I just closed a deal in Bel Air. The purchase moved along and my client couldn’t wait to move into her dream house. After years of being her broker, Julie was someone whom I considered a close friend. I’d been on the look out for months until I discovered a home that was exactly what she was looking for.
Julie bought the estate for $12 million. Not cheap, but worth every penny. The home had every luxury amenity from a screening room to a resort-like backyard. Considering how much the property had in it—audio and video equipment, gym machines, and furniture throughout—agreeing on what would remain in the home took a lot of negotiation. We had settled a deal and escrow was nearly complete…until I received a phone call.
The seller’s agent said that his client planned to pack up the massive chandelier when he moved out.
“What do you mean, he’s taking the chandelier?” I asked. I shared that the seller had no right to chandelier. Being bolted to the ceiling, it was clearly part of the home. Legally, it was clear that my client owned the fixture.
The seller's broker knew I was right. The seller hadn't revealed the fact that he planned to take the light fixture with him, and so it was never stated in the paperwork. But in real estate it's not always about who's right. In this business, compromise and adjusting to change are the only constants.
“Myra, he says that it’s a family heirloom and he wants to leave it to his family,” the broker told me.
“But do you understand the inconvenience your putting my client through? She’ll have to hire a decorator and an electrician, not to mention that she probably liked it in the first place,” I said.
Eleventh hour moves like this are all too common in our business. From antique chandeliers that will be stripped from the ceiling to outdoor statuary that will be packed in a U-Haul, in real estate, you’ve got to always be prepared.
In the case of the light fixture, I knew that this could possibly be a deal killer. But I’ve learned that there is always a positive spin you can take on things. I told the seller that I’d speak with my client. ♦Digg it ♦del.icio.us ♦Add to Technorati Faves
posted by Myra Nourmand at
5:36 PM
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