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Updated over 10 years ago on . Most recent reply

User Stats

31
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6
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Chad Lubke
  • Involved In Real Estate
  • Redington Shores, FL
6
Votes |
31
Posts

Listing agent changed square footage of home after home went "Active with Contract"

Chad Lubke
  • Involved In Real Estate
  • Redington Shores, FL
Posted

We are building spec homes in a community where there are other builders. The house two lots down from us was originally listed as 3178sf for $769k which comes out to $241/sf. I noticed the house went "Active with Contract" and the MLS description now shows 3474sf $769k which reduces the value to $221/sf. In speaking with the builder prior to noticing the descrepancy (builder not tied to the owner or Realtor) he said the buyers were obtaining financing on the home. I am assuming she may be concerned about the appraisal so she upped the square foot figure. I verified the original 3178sf on the builders web site and had one of my guys measure the exterior (single story rectangular home so easy to figure) and came up with approximately the same 3178. I am concerned that this reduced cost per square foot will adversly affect my offers. This house in question is scheduled to close at the end of October and we have a lot of interest on our home as well so I don't want this to be an issue.

Most Popular Reply

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7,626
Posts
4,161
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Karen Margrave
  • Realtor, General Contractor, and Developer
  • Redding, CA & Bend OR
4,161
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7,626
Posts
Karen Margrave
  • Realtor, General Contractor, and Developer
  • Redding, CA & Bend OR
ModeratorReplied

@Chad Lubke  The first thing you should do, is all the realtor and explain who you are and what you do, and tell her that you noticed that she changed the square footage on the house, and ask why. Also, be sure to explain that you did in fact go over and measure the house, and that the original square footage is correct. Did she add in the square footage of the garage for living space? 

  • Karen Margrave

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