Tuesday, May 18, 2010

Ignorance is bliss:

The new scoop for marketing a property listing to appear as a good buy is deviating from public records information as to the square footage. Many agents justify their square footage source as “Per Owner”. We are not sure what that implies? In a normal world as a professional you're required to pull tax records to get the homes square footage and other pertinent information about the property and if public records do not match with the owner’s information than as a professional you know something was either done without a permit or a mistake has been made. In this situation, it is up to the property owner to get this corrected either by appraisal or updating public records or by having city appraisers re-visit the property to verify property information but most owners do not do so because ultimately it may pose a financial burden.

A number of agents are adding hundreds of square footage to their listing and then claiming "as per owner". I am assuming as a real estate agent, a professional, would address this discrepancy and not pass the buck as to they would not be responsible for the listing they represent. Here we go again with assuming, you know what they say about assumptions! Always ask your agent (a real estate professional) were did the added square footage come from. If she/him claims it came from the owner, I would ask them for documentation justifying the added square footage. Because once you buy the property it is your problem to resolve and for future resale. Remember that the listing agent of any property is working for the SELLER NOT YOU THE BUYER….. And if they are working for the buyers as well they are acting in a dual agency. Ask yourself this Question: Would you go to the same attorney performing a divorce for both husband & wife? Well this is the same thing.