1005 Square Footage Error - Week from Closing - Any Advice?

[Sadie Bynum]

Hello all - Newbie here. I'm under contract on a home I'm buying to live in and Airbnb the attached In-Law suite. The listing agent wrote that the house was 4,000 sq in his description, and the mls listing indicated 4288. One week away from closing and the appraisal comes back at value of sale price, but 1,005 sqft smaller - 3283 sqft. Asked the sellers for price reduction and they refused.

My lawyer is on vacation for the next few days and my realtor is stumped. 

What do I do? Is there any avenue for recourse or damages? 1005 sqft discrepany is signifigant, so I can not understand why the sellers would expect me to pay same price. The sellers and agent are not challenging the appraised sqft number of 3283 - just said that's what they thought it was based on city records.

Any thought? 

[Kevin S.]

@Sadie Bynum I understand your pain, but you've posted the same thing several times in this thread. At this point, since the seller doesn't want to drop the price, you need to evaluate if it's worth it with the current price / square footage or not. If it's still worth it, then keep the deal going, if not walk away. You're only other option is to wait to hear from your lawyer to see if you have an legal recourse, however (this is my opinion, not legal advice) I doubt the legal answer will be "force seller to lower price". Things happen in REI, you just have to deal with them and keep moving forward.