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In contract for a pricey duplex in Newark. close to downtown but not ironbound. It cookie cutter beyonne style price nearly 500k....Its square footage is nearly 4k and the lot is almost the same...(which I thoughtwas wierd) w I cant find a duplex with nearly as much sqft anywhere in newark..... only 3 family and above. it doesnt look particularly big.its in tax records. my realtor said that the attached garage and adjacent rm.behind was probably counted inappropriately. the seller is motivated and only had one offer .. property was on market for 90 days before my offer other realtors tell me its look high for the neighborhood ... should I proceed does this look fishy... I'm still waiting on appraisal
Local agent here, If you're under contract you would need a valid reason to break contract. If the seller intentionally misrepresented the sqft you might have a leg to stand on, but if both of you were going based off tax records you might be stuck. If there were no comps, what did your agent comp it against when you put in your offer?
yes..she comped out a few that sold a few months and a pending.. the pending is across the street and recent but it has yet to be sold..the sq footage in my is larger but it looks just like all the homes...might be a square footage issue that inflated the size
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