Drapes & Blinds Might Be a Seller Concession-Who Knew?

Okay, this is just a heads up–but check with your lender.  Looks like Fannie is using this little-known rule as “buy-back” leverage. 

So, I’ve seen a trend lately from several of the big lenders…that curtains, drapes, blinds are considered personal property.  Who knew– but in reviewing Fannie’s Underwriting Guidelines, looks that they added something about it in 2007. 

So, here’s the dealio…if it’s mentioned in the purchase agreement (and most PA’s already have the wording as part of the agreeement anyway)  it’s supposed to be treated as personal property, the appraiser must make a comment and deduct the value of the window covering from the value of the home.  If NOTHING is mentioned, they it’s assumed that they are NOT leaving the window treatments. 

…I’m just saying it’s just another thing to watch out for!