Allen Fitzsimmons is the CEO of Transitioning Forward, a business that liquidates home furnishings and real estate. Allen Fitzsimmons, of Belchertown, MA, sells antiques and other furnishings, as well as homes for those needing to transition to a different situation.
In a traditional home sale, a house is listed with an agent, and the family that is selling packs up the household furnishings and accessories, rents a mover or truck, and goes to the next destination. However, non-traditional sales often occur in resort areas and in upscale neighborhoods. The sales are unusual because the buyers want not just the homes, but also the contents. Buyers are asking for turnkey homes.
The turnkey sale is more popular with celebrities and international buyers that don’t want to deal with movers and boxes; they want to buy the property today and sleep in the bed tonight. Many new home owners want to be able to rest after they buy, and moving is not restful.
When purchasing a home with all the accessories, the real estate contract becomes complicated. Every item included in the sale must be listed on the sales contract and photographed; these items all have a line item on the contract. When this sale is a cash deal, everything goes smoothly, but if financing is involved, a mortgage company will not finance furnishings. The buyer must pay cash for those items or arrange separate financing.