Understanding Personal and Real Property

Are Personal and Real Property Different? Through my training I have come to understand many terms that had previously eluded me.  Two of those terms, which on the surface appear very similar, are personal property and real property.  The difference is subtle, but important when determining what items are staying with a property or what is going to be leaving when the sale is complete. Personal property is broken down in simple terms to mean anything that is movable or unattached to the land.  There can be tangible personal property (cars, yachts, championship rings or horses).  Other personal property is intangible (stocks, notes, mortgages or leases).

The other type of property is that of real property and it is simply anything that is not-movable and attached to the land.  This can include permanent plantings, such as trees, perennial flowers and grasses.  Fixtures are also real property, because they are attached.  Items that were once personal property, such as bricks, mortar and 2x4's for a wall, can become real property once they have been made into a wall and now are part of the land. Developments, including housing and other buildings are also considered real property and will convey with the property, because they are not able to be moved.  Contact Nesbitt Realty to acquire your next dream real property and you can have a new place to put all of your personal property.  Is this the year to step up and get the home of your dreams? Featured Home for Sale in Old Town Alexandria “Using a real estate agent is a very good idea,” says the U.S. Department of Housing and Urban Development (HUD). "All the details involved in home buying [and selling], particularly the financial ones, can be mind-boggling. A good professional can guide you through the entire process and make the experience much easier." Selecting the right professional is the key to a successful real estate transaction. Better than working with a simple real estate agent, you’ll want the services of a Realtor®.

What’s the Difference Between a Real Estate Agent and a Realtor?

More than two million people have earned real estate licenses but only a small percentage of these are Realtors. Realtors are members in good standing of the National Association of Realtors, their state association of Realtors and a local real estate board. Realtors are held to high standards of ethical behavior and must undergo continuing education annually to remain accredited. All agents of Nesbitt Realty are Realtors!

What Does a Realtor Do?

Realtors in {Location_Name} are required by law to:

• perform necessary and customary acts to assist in the purchase or sale of real estate.
• perform these acts in good faith and with reasonable care.
• properly account for money or other property placed in his or her care.
• disclose “adverse material facts” which are, or should be, within the agent’s knowledge.

Realtors can help buyers pre-qualify for mortgages and keep abreast of the latest home listings. They can assist sellers in preparing their homes and screening potential buyers. They can show investors the properties that fit their risk profiles and long-term investment strategies. Nesbitt Realty in {Location_Name} can quickly locate the perfect home for you, or sell your home in the shortest possible time frame. Our agents can efficiently organize and coordinate meetings with potential buyers and sellers. A Nesbitt Realty Realtor will be well acquainted with the important things you'll want to know about the neighborhood you may be considering:

• the quality of schools,
• the safety of the community,
• traffic volume,
• price,
• Metro accessibility
• nearby parks and attractions

Our agents have immediate access to homes as soon as they are put on the market, saving you hours of wasted drive-around time. When you’re ready to make an offer on a house, our Realtor will help structure the deal to save you money. He or she will explain the advantages and disadvantages of different types of mortgages and guide you through the mounds of paperwork. When it comes to selling your home, a Realtor will save you time and aggravation. Their commission will vary depending on your location. Realtors pay for all advertising, schedule all open houses and make sure potential buyers are qualified. The money they can save you is often more than the cost of their commissions.