Home, Land, Property Buying and Selling - Help with Square footage delima

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View Full Version : Help with Square footage delima


Jeeper270
01-13-08, 01:39 PM
:confused: Has anyone ever encountered a problem where their house has incorrect info ( Square footage) on the tax documents? When we had this house built 13 years ago, we made some changes to the original plan that added to the square footage of the house and some changes where the garage size was increased.( I know this does not have any impact on the SF). However, when the house details were reported to the taxing authority(And I assume to the title company), they were more than 300 SF less than the actual SF of the house. My guess is the builder just used the info from the original plan.When my assessment was made, it benefitted me by being taxed at a lower SF. However, now the information is hurting the potential sale of my home. How does a home owner go about making a correction of the info or is it something that would be "corrected" just by making sure the correct SF is listed on the selling agreement/advertising. I do not want to end up with a problem when a buyer goes to get a mortgage and the info at the tax office does not meet what is advertised. I also would like to get this fixed prior to selecting a broker so they would not have any connection to this. Any suggestions? Thanks


marksr
01-13-08, 02:49 PM
It isn't uncommon for the actual sq footage to not be accurate with the tax office. I'm no expert but I wouldn't think there would be any problem with a sale or mortgage as long as the sq ft is stated correctly. Lenders often send someone out to inspect the property and they do take rough measurements to make sure the house is as stated.

thezster
01-14-08, 07:52 AM
I move around a lot due to company relocations - and am required to get 3 appraisals on my property every time I sell one. Rarely, if ever, do those sq. footage figures match one another - nor the county tax records. List your home with the accurate figures - and expect the lending institution's appraisal to be close - but not exactly on yours. Worry not about the tax rolls - your new buyer will appreciate the lower tax rate as much as you did - though the sale of the home could result in a new tax basis, depending on your regional practices.


Jeeper270
01-14-08, 09:14 AM
Thanks for the replies. I must admit, I have never checked the figures on our previous homes, so this was new to me. Glad that someone with experience if this situation is nice enough to take the time to help. Thanks again.