I recently went on a listing presentation in a subdivision with patio homes that all were built in the same time frame, most having the same construction material, and each with minor custom modifications, therefore making a comparison by heated and cooled square footage one of the most accurate ways to come up with pricing. I told the sellers that the tax roll record had their home at 2060 heated and cooled square feet. They vehemently denied this and said they had 2150, leaving a difference of 90 square feet which equates to $18,000 at $200 per square foot. I asked for a floor plan or appraisal, which they did not have, and they asked that I look up the MLS datasheet from when they purchased the property in 2007. When I looked it up, it did say 2150 square feet, and in the “Private Remarks” which the buyer could not see, there was a statement from the listing agent that “Buyer to confirm all measurements”. Really????? This leads me to believe that the listing agent did not have any written documentation to verify that 2150 sq. footage and went off what the seller told them instead of insisting on verification. In a declining market, when a seller is already losing money, to tell them they actually paid more for a house then they should have by $18,000 is not fun.
Thankfully, I have not had the pleasure of sitting in court and hope that I never do, however, this is a situation where it would be real easy to end up there.
Yes, I did get the listing, the seller understands that I cannot market something without the correct documentation and actually respect me for insisting on it. Nevertheless, it is not the circumstances that you ever want to start a listing on.
I take great pride in assisting home buyers and home sellers with their real estate in St. Augustine. If you are looking for property in St. Augustine Beach, World Golf Village, Marsh Creek, Palencia or Royal St. Augustine, I can help you achieve your St. Augustine real estate goals. I specialize in St. Augustine waterfront properties, St. Augustine historic properties and St. Augustine golf course communities. Please contact me today if I can be of service or click here to search the MLS like an Agent.
Stefanie Bernstein, Broker / Associate
Phone: (904) 669-5134
Watson Realty Corp.
3175-1 A1A South
St. Augustine, Fl. 32080
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