Sellers wonder how they can resolve a square-footage discrepancy

Q: We are in the beginning stages of selling our house, and we have a dispute on square footage. Our agent says our house is 1,912 square feet, and our lot is 6,887 square feet. We just found the marketing material from when we bought the house, which states 2,100 square feet for the home, and 7,500 square feet for the lot. We know the people who sold us the property passed away years ago. Be that as it may, our current listing agent was our buyer’s agent when we purchased the home in 1999. Should our agent and the agency he works for be compensating us for selling a smaller lot and home years later? If so, how would one calculate the amount?

A: Real estate attorneys point to the number of years from discovery of an issue to determine the viability of a claim. Regardless, those same attorneys put their kids through college on “square foot cases.” Real estate attorneys representing current home sellers/former homebuyers will argue they bought a home with larger square footage to ensure better resale. Now, as sellers, they have to sell a smaller property for less money. Real estate attorneys representing the original home sellers, their agents and the firms they work at will list a series of counterpoints. For instance, did the home and lot fit your needs? Did the property appraise upon the purchase process? Were you allowed time to complete all due diligence? Granted in Silicon Valley and the greater Bay Area, each square foot is hundreds to thousands of dollars. Conversely, the lawyer’s fee will probably equal or surpass any amount recovered should the other side put up and fight. Moving forward, years after I left the local Forms Committee, the real estate attorneys and brokers serving came out with a great form regarding discrepancies in square footage. The PRDS Real Estate Square Footage & Lot Size Advisory and Disclosure form allows sellers to list the differing square footages and their sources. For example, county assessor, architectural drawings, appraisals and building reports, et cetera can all differ. Best you fight to win a good sale, instead of winning a case with an expensive lawyer.