The house is listed as having 600 square feet more than it did 4 years ago with 0 changes. Some quick calculations from their own measurements in the listing indicate that the prior square footage was correct and they are including the garage space in the new number. This agent has also done some other slightly shady things to make me think this was intentional.
We like the house and want to offer on it. The problem is that we think other buyers will be willing to pay full price due to the inflated square footage. We are considering the approach we want to take.
1) Have our agent talk to theirs and see if they’ll fix the listing. Problem is that we can’t prove the new square footage is wrong unless we get it appraised.
2) Offer what we think is fair given the real square footage. We’ll likely lose out to someone who doesn’t catch the error.
3) Offer asking (or close to it), keep all contingencies. If we get under contract and the square footage is indeed wrong, ask for a price reduction to the number we actually want to pay. If the square footage turns out to be correct, then great! We’ll pay more but it will be justified.
Thoughts?
ETA: My realtor just got back to me and, based on tax documents, agrees that the square footage listed is incorrect.
Interested in a house with square footage likely overstated
byu/ticktickBOOMer inRealEstate
Posted by ticktickBOOMer
5 Comments
I think you should definitely start by asking them why the square footage is higher now than it was before, and if they can provide documentation (like a past appraisal) to confirm that. They might have a perfectly reasonable explanation.
Is there a possibility they finished the garage between the old listing and now? That would account for the discrepancy.
What is the stated square footage on the state property tax/record website?
Regardless offer what you think it’s worth, and don’t waste your time playing games making offers way above what you plan to honor or trying to be the MLS/Zillow police. It’s not worth the trouble.
2
If you think someone will pay full asking price then that’s what the house is worth
Are you okay with what the correct sq ft is?
But honestly I don’t mess with houses that have clearly false listings. Not worth it. I see that a lot here too. I see that here with flips, they use the garage as house square footage. It’s completely false advertising.
Don’t do 3. Don’t make an offer that your aren’t prepared to follow through with
3.
If they want to play stupid games, let them win stupid prices. After inspection shows the sqft does not match the listing, revise your offer to the same $/sqft.
Ignore the square footage all together. Would you still like the house?