Buying a Home with Sq. ft discrepancy

[Raghu Valusani]

Hi,

My Name is Raghu and I am looking into investing , but before even i proceed into RE investing.,

I am purchasing my Single Family residence home in illinois. I have noticed that the MLS states the sq. ft as 2881, Based on the sq. foot, When I made an offer, I offer at $101/sq. ft, costing at $282K.

When i requested a Home insurance quote, i found out the area is 2521 sq. ft. its almost 360sq. ft difference.

My realtor’s answer about discrepancy is because, they do not count the common areas and walk ways.; not quite satisfactory.

My Attorney has not responded, for the past 2 days..

I am planning to close soon.,

I feel I am paying too much. 

Appreciate your advice on how to proceed.!!!