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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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sq footage changed in listing
I recently put an offer on a townhouse that was listed as 2,048 sq feet. It didn't seem right to me b/c most of my houses have been around 1,800 and the townhouse didn't seem bigger. The offer was accepted and I've been working with my mortgage company (sent them money for an appraisal yesterday). On Thurs I have the inspection scheduled.
This morning I looked at the listing on realtor.com and now the sq footage is listed as 1,888. I kind feel duped b/c people tend to pay per sq footage. I'm already in a contract so I'm sure I can't do much about it but what about if I go to sell it later? I feel like I'm going to have to take less b/c of the more accurate sq footage.
Is there anything I can do at this time? We don't close until end of Aug.
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Posted 7/4/17 8:26 AM  |
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Prudential Douglas Elliman Real Estate
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loveus
LIF Adolescent
Member since 9/13 684 total posts
Name:
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sq footage changed in listing
It's your responsibility to do due diligence. If you had a feeling something wasn't right you should have spoken up before you made an offer.
I'm sure the listing has a clause stating the agent isn't responsible for errors.
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| Posted 7/4/17 10:13 AM |
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Sweetlax22
LIF Adult
Member since 5/10 1904 total posts
Name:
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Re: sq footage changed in listing
Could there have been a deck or something that was originally included that is not anymore.
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| Posted 7/4/17 10:40 AM |
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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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sq footage changed in listing
I don't know where they got that number from but it has a screened in porch that I assume is still there. I guess I'll find out on Thursday at the inspection if anything changed since I saw it last.
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| Posted 7/4/17 10:52 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
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Re: sq footage changed in listing
Residential property is rarely purchased on a per sq ft basis in this area. That's common for commercial property.
It's pretty common for square footage to change a little up or down based on basement or garages being included (or not), incorrect measurement, or measurements that were approximated in the past.
Regardless, you made the offer on the house that you saw. Nothing has changed about the actual house that you made the offer on. If you are really upset about these 160 sq ft and haven't signed the contract yet (which it sounds like you didn't), you can easily walk away. However, I wouldn't expect the seller to decrease the price based on the square footage in a property listing.
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| Posted 7/5/17 4:07 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: sq footage changed in listing
If there is an issue on the value when the appraisal comes back then you can always try to renegotiate. Adjustments will be made during the appraisal process to account for size. What did you look at when considering comparables for the townhouse?
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| Posted 7/7/17 9:42 AM |
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Funkybutt
LIF Adult
Member since 4/15 3049 total posts
Name:
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Re: sq footage changed in listing
Posted by JandJ1224
If there is an issue on the value when the appraisal comes back then you can always try to renegotiate. Adjustments will be made during the appraisal process to account for size. What did you look at when considering comparables for the townhouse?
I didn't really look but there's another in the same area that has a smaller footprint (by 200 sq ft - so around 1,600) and it's only $20K less.
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| Posted 7/8/17 8:35 PM |
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