We understand how frustrating it can be to search for a home in Austin. Half the battle is learning the key terms and what they mean in regards to Texas real estate. So each week we bring you Key Term Tuesday – our way of helping you decode the industry jargon that keeps you from owning your home search.
What is Real Property?
Property can be either real property or personal property. Real Property aka real estate is by definition the land and anything permanently attached to the land.
Personal property is, very simply, everything that is not real property. It moves, it not permanently affixed to the land and can be easily separated. So, refrigerators, clothes washers and dryers, free-standing range/ovens and wall mounted TVs are considered personal property.
Think of it this way: A person who buys a “home” is in fact buying the land and everything attached to the land via the house structure: doors, windows, cabinets, countertops, banisters, toilets and so on. Same for the outside: hard scape, out-buildings, pools, fences, trees, garden plants, foliage and dirt. Personal property is never included in a contract for real property in Texas so there must be a separate agreement for those items if they are desired as part of the transaction.
Looking for a Real Estate Expert?
Our team has a combined 55+ years of experience helping home buyers understand the real estate market. Check out our approach to Buying a Home in Austin to learn more about our team and how we work. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.