Toronto’s real estate market is incredibly complex, and so is the terminology used. Two examples are “chattels” and “fixtures”. Two fairly benign words, but those two words have the potential to seriously complicate a real estate transaction. Let`s start by breaking down each item.
Chattels
These are generally goods that are not fixed to the property by anything other than their own weight, and can include things such as furniture, appliances, window coverings (excluding the tracks/brackets), water tanks, and even chicken coops.
Fixtures
As the name indicates, these are things which are permanently fixed to the property, and includes things such as shelving, plumbing, electrical items, and much more.
So why does this all matter? Well, there are a lot of grey areas here. Let’s consider wall-mounted televisions… are they a chattel, or a fixture? What about hot water tanks, or even mirrors? This is why it is so incredibly important to work with an experienced real estate professional (like us!). A professional will advise on which items should be removed prior to listing the property, and which items can remain when listing photos are taken and simply be “excluded” in the paperwork.
Interested in buying real estate in Toronto & the GTA, or perhaps investing in Toronto real estate? First time home buyer? Moving to Toronto? Are you part of a Toronto relocation with your employer? We can help you with all relocation services in Toronto, from finding a new home, temporary accommodations in the meantime, destination services, settling in services, move management, and so much more. So many steps of the move can be handled in advance, so when you arrive we can get you settled much faster. When moving to Toronto, we can help with all aspects of the relocation.
We’d love to hear from you, so call us today to book your complimentary private consultation.
Once you are all settled into your new home, let us help you with a relaxing Caribbean get-away with a private luxury villa rental in St Martin/ St Maarten, St Barth’s or Anguilla. Caribbean villa rentals are a cost-effective way to travel. Ask us how!