Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
BRRRR - Buy, Rehab, Rent, Refinance, Repeat
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 2 years ago on . Most recent reply

User Stats

525
Posts
745
Votes
Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
745
Votes |
525
Posts

Are we out of luck? Inaccurate listing square footage

Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
Posted

We bought a MLS-listed distressed property sight unseen through our local real estate agent. We live in Mexico and bought in NJ and moved fast because we know the community and believe the home is a good BRRRR prospect. The listing square footage was 1,748. We've learned, well post purchase, that the actual livable square footage is 1,549, 11% less. Naturally, this difference meaningfully impacts our originally projected after repair value.

Anyone here experience this and successfully pursued legal recourse with the seller, listing agent or buying agent? Or are we simply out of luck because we bought it as-is and did no inspections?

Most Popular Reply

User Stats

525
Posts
745
Votes
Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
745
Votes |
525
Posts
Ron Brady
  • Rental Property Investor
  • Burlington County, NJ
Replied

@Bob Stevens Thanks for weighing in. Yes, bought as is. No, we didn't measure to verify the listed SF. Yes, we do have a local team, but they missed it. This said, the measurement didn't feel off when we walked through. Lesson learned.

@Abel Curiel Thanks for weighing in. Disclosure said nothing as home was left to grandchild when grandparent living there passed. Reviewed contract and found no options. Lesson learned.

@Harris Miller Thanks for weighing in. Makes sense. Lesson learned.

All: Our silver lining is that we purchased for $260k, expect to reno at $125K and still expect to ARV at $475, so we're still ahead--just not as ahead as we'd originally expected. We appreciate the advice!

Loading replies...