Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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.
Real Estate Deal Analysis & Advice
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 3 years ago,

User Stats

338
Posts
414
Votes
Brad Jacobson
  • Realtor
  • Ogden, UT
414
Votes |
338
Posts

Misrepresented Square Footage - Concession Request

Brad Jacobson
  • Realtor
  • Ogden, UT
Posted

Hi Fellow BP Fans,

I'm currently UC on a triplex that I snagged off the MLS last week. It was a competitive bidding war.

The MLS listing noted the combined square footage of the three units was 3,600sf. During the walkthrough, I felt like 3,600sf might be a stretch but I still fought to win the property. The seller's property condition disclosure notes that the square footage was pulled from county records but upon my personal review of county records, the property only measures about 2,800sf.

I contacted the listing agent over this and got no response. A few days later, the MLS listing square footage was updated (after it was noted under contract) but I still received no feedback from the listing agent. Luckily, I had saved a PDF of the prior measurements.

My partner and I decided we're going to use this as a due diligence finding and therefore concession request to try and knock down the price since I had to compete with several other parties for a largely misrepresented property.  

My question is - what is the most effective way you've done or seen to get a large concession when purchasing a home?  It's one thing to ask for a new water heater, it's another to ask for $30,000 off for a misrepresentation.  Any hot tips on knocking down a sales price significantly aside from simply explaining why and asking for it?  What have you found to be the most effective negotiation technique when talking larger numbers?

Thanks in advance,

Loading replies...