If you read the news, the inventory of homes is a little low. That means sellers can be picky when they receive a contract offer. If you present an offer with our letter and another buyer makes an offer without being qualified (all other things equal or maybe not so equal), guess who gets the home?
Yes it is a little trouble, but we don't charge you to take care of this and you can avoid embarrassing surprises. To do this go to www.mignashville.com/app and fill out our online application. It is easy and secure and will get you on the road to that home!
Friday, May 3, 2013
Wednesday, May 1, 2013
In Case you wondered about square footage!
QUESTION: I have a seller that is disputing the manner in which I measured the square footage of their property. What is the correct/legal way to do this?
ANSWER: We do not recommend that agents calculate square footage. Square footage (or gross living area) is difficult to determine and is ripe for a misrepresentation claim.
There are several acceptable ways in which to determine square footage. Additionally, if you have 3 different people determine square footage, you are likely to get three different answers. If the square footage included in the MLS is incorrect, the REALTOR could be liable for negligent misrepresentation depending upon what he or she did to verify the information obtained and when the discrepancy is discovered (i.e. before contract entered into, after closing).
We recommend that square footage be listed as an "approximate" amount and that a disclaimer be included noting that the amount of square footage is not guaranteed. We would also recommend either listing the square footage as what is listed on the tax records or as calculated by an appraiser and indicate the source. The important thing is that the information concerning square footage is disclosed so as to avoid misrepresentation. We would recommend going with either the tax records or from an appraiser's measurements.
[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]
ANSWER: We do not recommend that agents calculate square footage. Square footage (or gross living area) is difficult to determine and is ripe for a misrepresentation claim.
There are several acceptable ways in which to determine square footage. Additionally, if you have 3 different people determine square footage, you are likely to get three different answers. If the square footage included in the MLS is incorrect, the REALTOR could be liable for negligent misrepresentation depending upon what he or she did to verify the information obtained and when the discrepancy is discovered (i.e. before contract entered into, after closing).
We recommend that square footage be listed as an "approximate" amount and that a disclaimer be included noting that the amount of square footage is not guaranteed. We would also recommend either listing the square footage as what is listed on the tax records or as calculated by an appraiser and indicate the source. The important thing is that the information concerning square footage is disclosed so as to avoid misrepresentation. We would recommend going with either the tax records or from an appraiser's measurements.
[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]
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