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What can a home buyer do if the actual square footage is smaller than that which was reported? The realtor put 2150 finished sqft in MLS listing. But the appraisal came out that the house is 1994 sqft and the square footage in a public record of county is actually 1910sqft.
We are so disappointed about the fact that we want to cancel the contract. We live in VA. Can we cancel the contract and get our honest money back? Thank you for your advice.
I'm confused...do you no longer love the home? How is it really ANY different now that you know the true square footage? If if worked for you BEFORE you knew it's real sf, it should still work for you now.
In my opinion, price per square foot is really only the most important thing when you are building or buying new construction.
Keep the home and avoid the legal troubles of trying to get out of it.
In our area, We can use 3 sources for footage. 1. Tax records 2. An Appraisal 3. Builder Plans. As agents we quote our source in the MLS and we are protected. We don't just take someones word.
If the house appraises for the sales price I would not think you have an out on the contract. Five different appraisers can get 5 different measurements especially on 2 story homes.
I would want to see where the listing agent got her information. There could be some liability if she did not use an accepted source.
What can a home buyer do if the actual square footage is smaller than that which was reported? The realtor put 2150 finished sqft in MLS listing. But the appraisal came out that the house is 1994 sqft and the square footage in a public record of county is actually 1910sqft.
We are so disappointed about the fact that we want to cancel the contract. We live in VA. Can we cancel the contract and get our honest money back? Thank you for your advice.
My question to you is, why didn't your realtor know this upfront? Or at least give you a heads up? Isn't that why you hired the realtor in the first place?
Hi Esterkyoo, I don't know where you are in VA, but I am in Hampton Roads and also worked in the Richmond area.. both of those MLS's have a disclaimer that information is deemed reliable but not guaranteed.
And just so everyone knows with sq footages, I can have 10 different folks come in to measure a home and get 10 different answers..... it is not an exact science!!
To Joseph Campbell, I believe the original poster means the listing agent listed the sq. footage incorrectly. Her buyers agent would not be doing a measurement of the house.
And for everyone: as an agent I do not measure the house. I take the information from sources that are deemed reliable, ie. tax records, previous appraisals, etc.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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I love the phrase "honest money" in the OP's OP.
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