Profile picture for user7939056

Can a bank show a home with all appliances and then take them out of the contract?

I just put an offer on a home in West Palm Beach, FL. It is a foreclosure but in very good shape. In the MLS listing it states that comes with all appliances. When I went to see it, all appliances were there. Yet, on the offer that my broker had me sign the bank had her cross out the section where it says that the home will come with the appliances shown to me. I told her that was a concern to me as that would be an extra expense I can not incur, yet she assured me that they wouldn't take them out of the home. So my question is...if they are not taking them out, WHY are they crossing them out of the contract/offer?
  • July 07 2012 - West Palm Beach
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Answers (10)

This is very unusual, I have never seen a bank do this.  Why would they want the appliances? I smell a rat.

However, since they requested the language be removed prior to contract execution there is nothing wrong, from a legal standpoint.
  • July 07 2012
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I can't speak for Florida law but in Minnesota the appliances are covered under the 'personal property addendum' and banks won't sign the addendum as they won't guarantee the appliances will either be there on the day of closing or that the appliances work.

This is fairly common as banks don't want the liability of having to replace broken or missing appliances. But the bank won't remove the appliances from a home either. If they're there on the day you write the contract, there's a good chance they will be there at closing. The bank just won't guarantee it.

Personally I think there's probably more problems with disappearing appliances with non bank owned homes as homeowners in short sales have been known to take or replace their appliances with lower quality appliances prior to closing.
  • July 07 2012
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Profile picture for B Mike West
I agree with Joseph. Something is wrong. Do not accept or sign any documents that allow the bank- or the listing agent to remove the appliances. Force their hand. The former owners may have taken the appliances and the listing agent could have put some in to get offers faster. The listing agent may be moving those appliances from one bank owned home to the next. One never knows.
  • July 07 2012
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Profile picture for Ofe Polack
Talk with a real estate attorney before you sign anything, and probably time is of the essence, so waste no time.  Good luck!
  • July 07 2012
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Ok, so let me speak for Florida:

On all forclosure properties, banks remove any "personal" property from the contract so that they are not liable for something that may not be there at closing.

No, the bank will not take the appliances...however we have had the listing agent remove them. 

More often, vandals take anything of value.  It is a common occurance for theives to take the appliances, light fixtures,pool pump,  a/c compressor or steal the copper out of the A/C...we even had someone steal the wood floors.

And depending on what has been removed, we sometimes are able to get a conscession from the bank...but never for appliances.

If the bank accepts your offer, you need to take pictures of everything in the house.

Eve
  • July 08 2012
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Your offer was based on the condition and inclusions of the property as adverised. Therefore having you sign something different is not something I will allow my clients to do. As this represents a change. I will cancel the contract due to the changes of the conditions. Your realtor and your broker should be protecting you and ensuring you get what you have placed an offer for.

If you want to keep the contract  I will request a credit at closing for the appliances be a part of the changed contract.

Best of luck.
  • July 08 2012
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Profile picture for Alyse Sands
Because a bank does not sell appliances nor will they warrant or take responsibility for them.  They are selling  the "real property" The appliances happened to be in at the time you saw it. 

The intention of the agent who listed the house with the appliances is for them to stay but their presence is incidental to the house, itself.

Therefore; banks will normally not sign an offer with personal property written into it.  They will cross them out.   You'll probably end up with the appliances unless some third party removes them.

The contract is the binding agreement which supersedes anything that was in the MLS listing or anywhere else.

  • July 08 2012
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Profile picture for Ky.
  • Ky.
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How about making the offer subject to a final walk through inspection the day before or the day of closing to insure everything is still there and that there's been no vandalism? The person holding the keys should be able to attest that everything will be there as was offered. That should be the listing agent. Refuse to close if anything has been changed or taken out.
  • July 08 2012
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Profile picture for Sharon Lewis
I have seen this many times before with foreclosures, the bank will not 'sell' the appliances other than stove, because they are personal property and they will not guarantee they will be there when you close,
 (99%) of the time they will be 'left' there. The listing agent can talk to your agent about this.
The appliances will be left there,the listing agent, probably Freddie Mac or Fannie Mae, right, will not put in writing that they are there. Its so convoluted, right? Congratulations on purchasing a great buy in the West Palm Beach area...make sure you get a home warranty! 
  • August 12 2012
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I agree with most of the postings here, the banks have no control over the personal property that most appliances fall under and as such will remove them from any contract as to not be liable at closing for operation.



 



However the bank is responsible to have the property in the same condition as when the property is shown and if the appliances are a fixture such as a stove will be liable (in ARIZONA) if they are missing not to the operation.



  • August 14 2012
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