Built-ins

What are built-ins?

Built-ins are any items that are permanently attached to a real estate property. These include items such as large appliances and cabinetry.

Deeper definition

Built-ins are any items that do not leave the property but remain a part of the permanent structure of a home. This includes any type of permanent appliances, cabinetry, furniture that’s built into the home, such as shelving or benches, and other attached items.

In a sales agreement between the home buyer and seller, the contract will specify the property’s built-ins. The property owner can negotiate with a real estate agent about what is to remain in the home after the sale. Some built-ins will be impossible to remove or modify without extensive reconstruction.

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Built-ins example

Large appliances, such as a range, dishwasher, and refrigerator, may with the home after the sale takes place, especially if they’re useful to the new owner. Whether or not this occurs depends on the terms agreed upon by both parties. When buying a home, Laurie expects the home’s current dishwasher to remain. It is a built-in, so it’s attached to the structure of the home, and it’s easier for Laurie to use it as is than invest in and install a new one.

Other Real Estate Terms

Net effective rent

Net effective rent is the average amount of rent paid per month. Bankrate explains.

Gross rent

Gross rent is the actual amount you pay for rent each month. Bankrate explains.

Fixture

Fixture is a common real estate term it pays to understand. Bankrate explains it.

Installment contract

Installment contract is a common term that every consumer should know. Bankrate explains it.

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