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03-01-2008, 11:17 PM #1
Renter
- Join Date
- Mar 2008
- Posts
- 1
Square Footage - Property Value Question
I purchased a brand new condo in Feb 2007 for $760,000 (about $430/sf), escrow closed 03/30. The sq.ft. on MLS and flyer was 1846 sf. I checked County Assessor's web site before I purchased, it showed 1756 sf. I brought this to listing agent's attention. There were bonus storage rooms about 80 sf. I thought 1756+80=1836 pretty much close to 1846, OK by me.
In Feb 2008, in Assessor record I found the sf changed from 1756 to 1570 (186 less, and 276 less than 1846) in May 2007 after I moved in March 2007. For the last few weeks, I talked to Assessor Office, Listing Agent, seller/builder, architect and City Hall.
My findings:
1. A portion (189 sf) of garage and basement was included in living space for sell. The permitted living space should be 1657 (measured from exterior wall to exterior wall). How much should I ask for if I sue the seller/builder? How much do you think I can get back from the seller/builder?
2. Assessor admitted that they made mistakes showing 1756 before I purchased. The 1570 (measured from interior wall to interior wall) is correct and they cannot do anything now to change it. How much should I ask for if I sue the County? How much do you think I can get back from the County?
For single family house, the dimensions are measured from exterior wall on one side to exterior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
For condo unit, the dimensions are measured from interior wall on one side to interior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
For single family house, the dimensions are measured from exterior wall on one side to exterior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
For condo unit, the dimensions are measured from interior wall on one side to interior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
For single family house, the dimensions are measured from exterior wall on one side to exterior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
For condo unit, the dimensions are measured from interior wall on one side to interior wall on the other side.
Is it true?
Is it a common sense for real estate agents?
Last edited by Chief Tutor; 03-03-2008 at 01:17 PM. Reason: Duplicate posts
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03-05-2008, 08:14 PM #2
Fixer Upper
- Join Date
- Feb 2007
- Posts
- 58
Well, first off, forget about suing the county. Government agencies usually get to make mistakes like that with no penalty. As for the builder? who knows if you get anything. But generally, when it comes to square footage, its buyer beware. The measurements can be done a lot of different ways, by different people. If sq. ft. is important to you, then you need to do the measuring yourself before buying. Now that you are in the home there is little you can do.
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03-06-2008, 05:32 AM #3
Clemy is right, you will get nothing from the government. Was there an appraisal done? Independant to the Auditor's appraisal? Did you purchase the condo before it was physically built? There really isn't much you can do, it is buyer beware. Your are right that the garage and I believe the basement both should not have been including in GLA - Gross Living Area.
If your condo is a stand alone structure then yes, it is measured from exterior wall to exterior wall. But it also depends on the local market. If your condo is in the same structure as other condos, more like apartments, then it is only measured from inside the walls. I know in Ohio agents are required to take 20 class hours of appraising that covers this, but do most agents remember and know this is another question I can't answer.
I do not have my license yet, but the more I learn, the more I realize that regular Joe needs to know more when buying/selling real estate because in many cases it is buyer beware. I am sorry but the only thing you can do is get the Auditor to change it for taxing purposes (lower your taxes if worth less than what is official right now). Specially if it was physically built before you purchased it. The law will say you were not hindered in any way from measuring yourself. It would be open for you to verify on your own, and if you chose not to that is your option but it lays on you.________________________
I do not have a real estate license. I'm just the average Joe.



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