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In correct living area in the disclosure?

We recently bought our first house (closed in middle of May 2013). According to the disclosures the area of the house is approximately 1484 sq feet. But when the architect did the survey he measured it 1404 sq feet. I checked the county assessors office and it confirms to 1404 sq feet. I paid approximately $920/sq foot. What are the options in such case?
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August 02 2013 - Los Altos
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Answers (5)

First, you should ask your attorney to determine your rights and options.  Here is my quick overview:

1.  If your claim is under $10,000, then take them to Small Claims Court.  The judge will decide what compensation, if any, that is owed you.

2.  Mediation/Arbitration - you and the Seller probably initialed the Mediation/Arbitration clause on the Purchase Agreement. This means that you both agreed to use the Mediation process and if no resolution, then the Arbitration process. I believe the claim needs to be greater than $10k, but you need to check.

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October 29 2013
Hi,

Did the disclosures say anything about additions or anything else that would Hint at the reason for the sq. footage discrepancy?

All the best,

Arpad

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August 27 2013
It is a rare occurrence when all measurements are the same. Public records may not match the actual configuration if the seller made some improvements and expansions, but didn't submit the changes to the county public records, whether the work was done with permits or not.

Appraisers' report can also vary from one to the other. You purchase the property for its total value -- amenities, etc --- and not per square foot.

If you want to have the property to match between the public records and the appraisal, go to the County Records office to apply for the change. Bring your appraisal. The County will send a representative to go to your house and do his own measurement. Don't be surprised if it is still different.
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August 02 2013
My understanding is that the county records are the ones to go by.
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August 02 2013
Square footage is not part of the purchase and sale agreement and it states that fact in so many places that you'll get nowhere trying to fight it.

The question is: given all of the other homes that you looked at and used as comparables, was this a reasonable price that you paid, regardless of square footage.

This is precisely the reason why I recommend that it is not a good idea to look at properties based on a square footage price. There are far too many factors that affect it and making mistakes on the tale-off is only one of them.
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August 02 2013
 
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