what should I do if the appraised GLA is less than the seller's listing estimate. For instance, the seller

Et
Home Buyer
19003

claimed it's 1600sf, but the appraised GLA is only 1500sf. Thanks!

Answers (4)
Amy Sullivan
Agent
19010

Hi Et,

Just sent you two emails with regard to questions. Let me know if you need any more assistance. Thanks!

Wed Jul 8 2009, 20:04
Amy Sullivan
Agent
19010

I've run into discrepancies with square footage because most seller's rely on the number supplied by the listing broker when they purchased which is often based on the public records or previous sellers estimates. Public records can often be incorrect and vary considerably. Did the appraiser walk the interior of the property or do a drive by appraisal?

Wed Jul 8 2009, 19:12
Fred Griffin
Broker
Florida

Hi, Et

I cannot give you Legal Advice, not being a Lawyer.
For Legal Advice, you need a Lawyer.

And I am not from Pennsylvania, but the same general principles should apply.

Square Footage or GLA is always a challenge. How do you measure the GLA?

*** A properly Licensed / Registered Appraiser will follow the USPAP:

The Uniform Standards of Professional Appraisal Practice (USPAP) are the generally accepted standards for professional appraisal practice in North America. USPAP contains standards for all types of appraisal services.

http://www.appraisalfoundation.org/s_appraisal/sec.asp?CID=6…


A Seller or Real Estate Agent may measure some other way, or they may rely on information found in the Property Appraiser Records or somewhere else.

*** The Appraisal done by the Appraiser is what Matters ***

If the listing shows Gross Leasable Area as 1600, but then an Appraiser shows
only 1500,

------ you may have a case of Misrepresentation -------

Is there a Real Estate Broker or Agent involved that you could bring this to the attention of? I would start there. If not, show it to the Seller and ask what they can do to remedy this.

Is that 100 feet going to be a Deal Breaker for you?

If you decide to break the Contract, you might need to see a Real Estate Attorney.

----------------------------
Best wishes to you,
Fred
------------------------

Wed Jul 8 2009, 18:49
Fred Griffin
Broker
Florida
FIRST ANSWER

Have you bought the house yet?

Wed Jul 8 2009, 17:36

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