Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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"Seller's Belief" - How Big Is It Really?

I considered an alternate title - "Seller's Belief" - Does Size Matter? - but since Kathleen Daniels posted about a completely different topic today - with an outrageous title - which of course I was compelled to re-blog - I thought I would tone it down a little bit,

 

There has been a trend I've noticed lately - of the square footage of the home per "Tax Records" not matching the Seller's belief - which is usually a higher number.

 

 

Sometimes the Seller's belief is supported by a previous appraisal - which is great.

 

Sometimes the Seller's belief is supported by the floor plan provided by the builder - which has square footage prior to any "custom additions".  Not quite as good as an appraisal - but better than "Seller's belief" by itself.

 

 

Sometimes the Seller's belief is supported only by...well...Seller's belief.  Problematic.  While we can enter square footage into the MLS "Per Owner" - what happens if the Buyer's Appraisal tells a different story?

 

In my opinion, it's a good idea for homeowners to be aware of what the tax records for their property show to be the square footage - and if there is a discrepancy - get it "fixed" well in advance of listing their home for sale.

 

The last thing a Seller needs is a Buyer Agent advising their Buyer that there might be a "problem" with stated "square footage" of the property.

 

What say you?

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty

Comments

Good morning Tony and Suzanne,

Most of the time it autopopulates from the tax rolls here.

I do not mind seeing burer's agent to verify taxes and sg. ft. What I do mind is when they include sg. ft. from a basement area without an ingress/egress!

Make yourself an astonishing day.

Posted by Raymond E. Camp, Licensed Real Estate Salesperson Greater Rochester (Howard Hanna Real Estate Services) over 2 years ago

I have only had this happen one time, and the town was in error due to the builder submitting the wrong plans and the building department not noticing. The town stated the house was smaller and the owner didn't want to fix due to an increase in taxes. I warned them they would need to do that at some point, which they did. I did note square footage came from the owner, not town records. PIA. 

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 2 years ago

Hi Tony, This is particularly needed information when you are comparing cost per square foot. Garbage in garbage out. It needs to be right.

Bill Roberts

Posted by Bill Roberts, "Baby Boomer" Retirement Planner (Brooks and Dunphy Real Estate) over 2 years ago

Thanks for stopping by with a comment Raymond E. Camp - always good to hear from you!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Makes sense to me Andrea Swiedler - but - what if the Buyer's appraisal shows different?

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

Agreed Bill Roberts !

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

In my market, if there is a discrepancy, I've seen agents indicate in the MLS "buyers to verify [fill in the blank]" ... it could be square footage, permits, etc. As a listing agent I work with the sellers to get all of the information verified upfront and provide all of the documentation in the seller disclosures. 

As for the title of my post ... I was really a quote ... BUT I guess I could have used something else 

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) over 2 years ago

Understood Andrea Swiedler 

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

I'm waiting for Candice A. Donofrio to weigh in on this one Kathleen Daniels - or perhaps Michael Jacobs - who is "dependable"...

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

This is when "due diligence" comes in.  I do think that sq. ft. isn't used much to negotiate an offer less than list, but it does come up on the appraisal.  I have had stories about sq. ft. over the years, and it wasn't that big!

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) over 2 years ago

We've run into this once or twice Carla Muss-Jacobs, Principal Broker/Owner  -thanks for stopping by with a comment!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) over 2 years ago

and one more

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (BVO Luxury Group @ Keller Williams Arizona Realty) almost 2 years ago

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