Nhbb22, Home Buyer in Dahlgren, VA

I notice that mls listing do not have true lot size and sq footage listed soom seem to be exaggerated . This makes harder to ascertain true comps.

Asked by Nhbb22, Dahlgren, VA Sat Jun 1, 2013

There should be a standard on how off a property sq ft and lot size could be off. In order for a buyer to ascertain if they are making good financial judgement from comps to make a offer they basically have no accurate info unless they do the research themselves and go down to property clerk for each company figure out price per square foot for properties sold on same or similar lot size and house size. Other wise buyers are left in the dark as if home is over priced. I would assume most buyers would want to pay the market value for there home and not make emotional decision that could cost them in the long run.

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9
Sue, Both Buyer And Seller, 11210
Sun Jun 2, 2013
this is to Ron Thomas agent
all these company etc, etc. are trying to help me? why didnt they help everyone who lost there shirts in the 2006 market crash? why did they put stricter rules on the appraisals and mortgage requirements back then like they are doing now? i still think there should be some more checks and balances does that make me a ungrateful American as you are so insinuating?
0 votes
Thomas Bohlm…, Agent, Rolesville, NC
Sun Jun 2, 2013
Also the new apraisal standards may only akow above grade sq ft to be used for size. Below grade or finished basement may not counted or valued as much as above grade sq.ft.

Each state is a little different, but getting. closer to national FHA standard in what can be used and can not be used for size.
0 votes
John Lavelle, Agent, Staten Island, NY
Sun Jun 2, 2013
There are many reasons for this problem. In some cases agents include the basement which may not be livable square footages. There are times when the agent takes the information from public records which can be inaccurate. If the lot is irregular and the agent does not pick this up, this can cause major problems for the buyer if they were considering building a new house or addition. If you find a property with these conditions contact the MLS and report them.
0 votes
Ron Thomas, Agent, Fresno, CA
Sun Jun 2, 2013
It sounds like you do not recognize and appreciate the Governments controls that we enjoy, here in the United States:
Do you think that many countries can match our checks-and-balances.
What percentage of the time do you think a common person can buy Real Estate without being taken advantage of?
You have everything available to you, Realtors, Attorneys, Title Companies, Home Warranty Companies; all trying to help you.
If you choose not to use them.......
0 votes
all these company etc, etc. are trying to help me? why didnt they help everyone who lost there shirts in the 2006 market crash? why did they put stricter rules on the appraisals and mortgage requirements back then like they are doing now? i still think there should be some more checks and balances does that make me a ungrateful American as you are so insinuating?
Flag Sun Jun 2, 2013
so our checks and balances where on point in the last real estate market crash . why dont you tell this to everyone who lost there shirts. obviously you must have been oblivious! or it didnt happen to you because you knew what to look for " you a agent". I would never use you as a agent!!!
Flag Sun Jun 2, 2013
Nhbb22, Home Buyer, Dahlgren, VA
Sun Jun 2, 2013
Well someone should be accountable. Who's accountable no one at this point.
0 votes
Christopher…, Agent, Staten Island, NY
Sun Jun 2, 2013
MLS info is based on the input from the listing agent. Misrepresenting the true square footage, etc. is wrong and any smart agent knows better than to do it!
0 votes
Nhbb22, Home Buyer, Dahlgren, VA
Sun Jun 2, 2013
People should be equipped with the proper info before making a offer they should have to go into contract first and wait for a appraiser to find this out. Also a lot of people may not have " a house must appraise in there contract or know better to make shore there lawyer puts that in. Why should I have to have all this info after contract? It just seems like a misrepresentation on part of agents and mls. That why we got into this mess in the first place. Whereby appraisal in accurately done in the past. Weren't makes or appraissers making them appraise so they can package the whole deal and sell it out as investments!!!! The whole process still seems off a buyer should be equipped with proper info preior to making a offer not after contract and put major financial discisions in institutions hands. That a bigger chance to benefit them than the buyer.
0 votes
Thomas Bohlm…, Agent, Rolesville, NC
Sun Jun 2, 2013
Most mls and state realtor boards now require accurate lot size and home size. What other web sites pickup up off the IDX feeds may or may nit be correct. Small variance in size, under 10%, is not going to change the comp.

Now a buyer should pay for a lot/land survey and the lender will have an appraisal with the house exact size listed.

Good luck
0 votes
Nhbb22, Home Buyer, Dahlgren, VA
Sat Jun 1, 2013
Can't sell a car unless you tell the buyer the accurate mileage ? There should be some accountability on part of agents and mls. I believe they should some margin of error plus or minus 250 sq ft as opposed to being off 2000 sq ft for example as counting basements without apartments as part of square ft. They can do this with vehicles that are sometime 1/10 th of a price of a home. These are one of the biggest purchases in a persons lifetime to have such inaccuracies .
0 votes
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