03-05-2012 03:40 PM
Please advise the meaning of "TURNKEY" in an ad for a condo in Dana Point. Basically should this include or exclude furniture?
In verbal negotiations the seller and the agent have stressed it doesn't include furnishings which is somewhat annoying.Thank you for your responses.
03-05-2012 07:15 PM
Hi Albert, in a real estate purchase, the frequently used agent jargon "turnkey" USUALLY refers to a property that you can move yourself, and your belongings - which usually includes furniture - into the house without doing any kind of fixing up. Just move you and your "stuff" in, and enjoy.
Bob Phillips - Realty ONE Group - South Orange County, CA
03-06-2012 11:24 AM
As I understand it, any of the seller's personal property, which is not a fixture or "built-in" to the house, stays with the seller unless otherwise negotiated and stipulated specifically in the offer. In other words, all personal belongings like couches, desks and clothing go with the seller. A built-in fridge, light fixtures, built-in cabinets, and non-framed mirrors, and sometimes even draperies and curtains go to the buyer unless other arrangements are made in the offer. Does this help?
03-07-2012 10:07 AM
Turn key is an over used adjective and really is not defined/used consistantly. As a noun it is a person who holds the keys such as a prison guard.
I've toured homes that were labeled turn key and they were like flips empty, clean, new appliances, new flooring and landscaped. I've toured homes labeled turn key that were not clean, had furniture and everything else to move into with just a toothbrush and clothes.
I've noticed in resort areas turn key tends to indicate furnishings included and they mention the furniture included elsewhere on the listing. In urban areas it tends to be a trendy real estate word to mean clean, painted, new flooring and appliances ready to move furnishing into without any work.
03-07-2012 02:33 PM
You know Albert. I can see how you might be confused by that! A hotel room might be considered "turn key"!
It really is as Bob and Paul describe it though. Think of a new house being turn key; it would not have any furniture or other belongings in it. The owners and/or their agent are merely expressing that the property is in exceptional condition.