Seller agent ignored appraiser report

[Nancy Fortenberry]

We were almost closed on a house when we got the appraisal report. The square footage of the house was off over 300 sq, ft. The selling agent ignored the report and would not discuss anything with us. Instead, he just said we defaulted on closing and kept our $1,000.  He knew we were buying the house for investment purposes.  The house was advertised as 3,050 sq. Ft., when in actuality it was only 2,745 sq.ft.   This made a huge difference in resale value, so we wanted a reduction in purchase price. He said we were just trying to rip the owners off! Really? We didn't measure the property, the accessor did. The report was correct and the selling agent put it back on the market at the wrong measurement. If we had gone through the purchase, we'd have lost a lot of money.  I'm so PO'd right now.  This agent is a jerk. Is there anything we can do?

Thanks for any insight on this matter. 

[Fred Heller]

On what are you basing your opinion that the house is worth a lot less because the SF is smaller than you originally thought? SF is one of many variables that go into valuing a property. A swing of 10% one way or the other is probably not going to make that big of a difference in the market value of the home.  I can show you many examples where smaller homes have sold for more than larger homes. 

Where was your buyer's agent in all this? You shouldn't even be talking to the listing agent. The listing agent works for the seller, not you. I'm guessing you didn't have your own agent.

If you feel so strongly about it, why did you sign the "return of earnest money form"? The title company can't distribute the money unless both parties agree. If both sides don't agree, then the matter goes to litigation to decide, And that's where your buyer's agent comes in.