Purchasing a Foreclosure Property: Fixtures vs. Personal Property?

to pay for it, and even if I did, I don’t feel like I should have to.” Unfortunately, the Court didn’t agree.

Not surprisingly, the buyer is considering filing suit against her agent claiming she didn’t advise her about the problem. It’s unclear whether the Real Estate Licensee has any exposure in this matter. The Leasing Company had not even filed a lien against the property to protect their interests. Nevertheless, the Court could find that the agent should have known the problem could exist because the shed was clearly not attached to the Property. Expect to see more of these types of claims.

Practice Pointer:  This is a helpful reminder that Nevada Real Estate agents should NOT make any assumptions when dealing with foreclosed properties. If in doubt, ask about the personal property and consider requesting a separate bill of sale for the item. Inquiries should be in writing and even if you do not receive a response before the close of escrow, you should document that you advised the Client of your concerns so they can make an informed decision as to how to proceed.

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