Hello experts,
We are under contract for a SFH that's posted as 2380 sq. ft. The tax documents recorded in the county also states this as 2380 sq ft. However, in the appraisal report, the appraiser, who went in person and took measurements, mentioned the house to be of 2250 sq. ft. The other houses in the neighborhood with the exact same layout are also 2250 sq. ft. I've attached the measurement sketch that the appraiser has added in the report. Few facts:
- The seller is the first buyer of the home. They bought the house as a new construction in 2016 from the builder.
- The appraiser was present in person when he took the measurements. These are exterior measurements. He's very positive that the house (gross livable area) is 2250 sq ft, which doesn't include garage or any unfinished attic space. He also made a point that all the other houses of the exact same layout are all 2250.
- The only thought we can think of is the patio! To us, it feels that the builder or whoever calculated the sq footage back in the day, calculated the patio too. The patio does not have any screens or glass to consider it as a part of the house.
Our Concerns:
- We cannot hold seller directly responsible for this as the county tax records show it as 2380 sq. ft.
- The price we agreed is for 2380 sq ft. and the option period has lapsed.
- When we put this on rent, can we calculate rent as per 2380? Will that be fair?
- When we sell this house in future, should we sell it as 2380 too? Will that be fair?
- Should we opt to correct the county records to bring it down to 2250 so that we don't overpay property taxes?
- What are our options and the right thing to do, so we don't feel we overpaid for the 125 sq ft that probably doesn't even exist!
