Definition of listed sqft on MLS

[market_guy]

My questions are in general about the square footage listed on MLS.
– Is there is specification that MLS requires listing agents to follow?
– I see a lot of discrepancy between MLS listed number and the ones on tax records.

When a home is appraised what constitutes the final sqft of the house:
– total area enclosed by outer walls?
– total carpet/floor area only – wall area not included?
– garage area – not included, I presume
– how about patios that are covered with a balcony above?
– the balcony area itself at first level?
– stairs inside the house – counted I guess, how about if they are on the outside in the open?

Do inspectors report total sq footage or only the appraisers do?
What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?
A 50 sft discrepancy could mean 15,000 on a 300 $psft.

Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.

Thanks in advance.
MG

[briansd1]

[quote=market_guy]
Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.
[/quote]

Nothing is rigorous about the MLS.

There are rules but none are enforced, except some silly rules about no Realtor name and phone # on the pictures and such.

[briansd1]

[quote=market_guy]
Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.
[/quote]

Nothing is rigorous about the MLS.

There are rules but none are enforced, except some silly rules about no Realtor name and phone # on the pictures and such.

[briansd1]

[quote=market_guy]
Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.
[/quote]

Nothing is rigorous about the MLS.

There are rules but none are enforced, except some silly rules about no Realtor name and phone # on the pictures and such.

[briansd1]

[quote=market_guy]
Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.
[/quote]

Nothing is rigorous about the MLS.

There are rules but none are enforced, except some silly rules about no Realtor name and phone # on the pictures and such.

[briansd1]

[quote=market_guy]
Seems to me there needs to be a rigorous specification on what can be listed as the sqft on MLS.
[/quote]

Nothing is rigorous about the MLS.

There are rules but none are enforced, except some silly rules about no Realtor name and phone # on the pictures and such.

[DataAgent]

“What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?”

Yes. During the typical inspection period, you can pretty much get out of the deal for any reason. Unless of course you waive your right to inspection or agree to different terms.

[DataAgent]

“What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?”

Yes. During the typical inspection period, you can pretty much get out of the deal for any reason. Unless of course you waive your right to inspection or agree to different terms.

[DataAgent]

“What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?”

Yes. During the typical inspection period, you can pretty much get out of the deal for any reason. Unless of course you waive your right to inspection or agree to different terms.

[DataAgent]

“What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?”

Yes. During the typical inspection period, you can pretty much get out of the deal for any reason. Unless of course you waive your right to inspection or agree to different terms.

[DataAgent]

“What if you come up with a sqft very different from listed sqft, is that a reason get the escrow money back?”

Yes. During the typical inspection period, you can pretty much get out of the deal for any reason. Unless of course you waive your right to inspection or agree to different terms.

[sdrealtor]

There is no way to be 100% accurate with sq footage as everyone who measures will come up with a different number. In the MLS we we enter the sq footage and include the source it came from. The tax roles are often wrong. For example, my house is listed as base sq footage for my model and does not consider that we had the builder replace a 3rd car garage with a downstairs bedroom. The information in the MLS is the agent’s best guess and gives the buyer an idea of the size of the house. The most important thing is not how many sq ft a house has but rather after you as a buyer see the house does it meet your needs.

Comparing $/sq ft is a comparative measure only, you are buying the house not a measurement.

[sdrealtor]

There is no way to be 100% accurate with sq footage as everyone who measures will come up with a different number. In the MLS we we enter the sq footage and include the source it came from. The tax roles are often wrong. For example, my house is listed as base sq footage for my model and does not consider that we had the builder replace a 3rd car garage with a downstairs bedroom. The information in the MLS is the agent’s best guess and gives the buyer an idea of the size of the house. The most important thing is not how many sq ft a house has but rather after you as a buyer see the house does it meet your needs.

Comparing $/sq ft is a comparative measure only, you are buying the house not a measurement.

[sdrealtor]

There is no way to be 100% accurate with sq footage as everyone who measures will come up with a different number. In the MLS we we enter the sq footage and include the source it came from. The tax roles are often wrong. For example, my house is listed as base sq footage for my model and does not consider that we had the builder replace a 3rd car garage with a downstairs bedroom. The information in the MLS is the agent’s best guess and gives the buyer an idea of the size of the house. The most important thing is not how many sq ft a house has but rather after you as a buyer see the house does it meet your needs.

Comparing $/sq ft is a comparative measure only, you are buying the house not a measurement.

[sdrealtor]

There is no way to be 100% accurate with sq footage as everyone who measures will come up with a different number. In the MLS we we enter the sq footage and include the source it came from. The tax roles are often wrong. For example, my house is listed as base sq footage for my model and does not consider that we had the builder replace a 3rd car garage with a downstairs bedroom. The information in the MLS is the agent’s best guess and gives the buyer an idea of the size of the house. The most important thing is not how many sq ft a house has but rather after you as a buyer see the house does it meet your needs.

Comparing $/sq ft is a comparative measure only, you are buying the house not a measurement.

[Author]

Posts