What are items that a seller wishes to retain when selling a property called?

When selling a property, items that a seller wishes to retain are referred to as exclusions. This term is critical within real estate transactions because it distinctly indicates what the seller will not include in the sale. Clearly identifying exclusions ensures that both parties are aware of what remains with the seller after the transaction, helping to prevent disputes and misunderstandings at closing.

For example, if a seller has custom light fixtures or certain landscaping features that they want to keep, these items would be specifically noted as exclusions in the sales contract. By doing so, the buyer understands that they will not receive these items when they purchase the property.

Understanding exclusions is important for both sellers and buyers, as it allows for clarity in the transaction and helps in setting expectations about what is being sold and what the buyer can expect to find in the property once the sale is finalized.