NC Real Estate Laws (sales, refinance, homes)

[CAKD]

Originally Posted by leighbhe

So the question is did you have an agent? Was there an onsite agent? Did you have the appraisal done on the house? Where did the square footage you were given come from?

Leigh

we must have been typing at the same time Yes an agent and we closed with an attorney. We also had a private inspector and the sq footage qas taken originally off the mls but I don't know what the paper work was based off of.

[coltank]

I'd be careful of square footages posted on websites, b/c they may not take into account certain bumpouts, etc. Your appraiser should have measured the home though, to verify the square footage, and if it was not correct, I'm thinking it wouldn't have appraised. Have your Realtor double check the square footage. Whatever records the exterminator pulled up, may have been for the wrong house, or old records. Did you use the builder's preferred lender?

[gastric]

County records on SQ FT are seemingly inaccurate. I had my re-sale appraised specifically for SQ FT and it was within a few SQ FT of the MLS listing but hundreds more than the county records. Thus my conclusion is the country records are inaccurate for whatever reason.

[coltank]

Originally Posted by gastric

County records on SQ FT are seemingly inaccurate. I had my re-sale appraised specifically for SQ FT and it was within a few SQ FT of the MLS listing but hundreds more than the county records. Thus my conclusion is the country records are inaccurate for whatever reason.

Very true, I've seen tons of inaccuracies.

[ALT-X]

Originally Posted by gastric

County records on SQ FT are seemingly inaccurate. I had my re-sale appraised specifically for SQ FT and it was within a few SQ FT of the MLS listing but hundreds more than the county records. Thus my conclusion is the country records are inaccurate for whatever reason.

In many instances county records seem to be inaccurate because they only take into account heated square feet. Many people who have their homes appraised don't take into account areas like garages, attics and basements that while are part of your homes overall square footage aren't counted by the county because it isn't livable/heated space...

[coltank]

Originally Posted by ALT-X

In many instances county records seem to be inaccurate because they only take into account heated square feet. Many people who have their homes appraised don't take into account areas like garages, attics and basements that while are part of your homes overall square footage aren't counted by the county because it isn't livable/heated space...

Actually, your square footage should only be based on heated sf

[gastric]

Correct. Specifically the MLS listed 2910 SQ FT. The appraiser calculated 2904 SQ FT broken out 1398 1st floor, 1506 2nd floor. That doesn't take into consideration the 475 for the garage. The country records indicate 2589 SQ FT. That's a 321 SQ FT (11%) difference between the listing and the county records.

[ALT-X]

Originally Posted by coltank

Actually, your square footage should only be based on heated sf

Exactly, thats what I was trying to imply in my post.

[businessperson]

I believe if the buyer misrepresented the square footage by more than 5% you can sue. Check with your attorney.

[leighbhe]

I would have to say the wake county records are off at times. My sisters house was listed larger (by about 200 square feet) on wake gov. and they ended up getting the appraisers report (their lender required it - their house was new construction, spec house). Did your lender require an appraisal? What did that turn out? If you have questions, I would consult a real estate attorney, and I would also get the home appraised again but an independent appraiser. It cannot hurt to doublecheck everything.

Leigh