Condo Measurement

[CHAIM SPREI]

HI EVERONE, URGENT HELP ON THIS , IT IS CLOSING TOMORROW.

I INSPECTED CONDO UNIT CAREFULLY, I CAME IN 1248 SQ.FT, LENDER CLAIMS ALL LEGAL DOCUMENTS COMES IN TOTAL SQ FOOTAGE AT 1644. I WENT DOWN AGAIN TO REMEASURE, STILL CAME AT MY ORIGINAL MEASURMENT.
MY SUGGESTION IS THAT LEGAL DOCUMENTS PLANS INCLUDED EXTERIOR WALLS AS PART OF GLA?
CHAIM

 

[Scott Kibler]

Not your problem. Who knows where the "legal documents" got their numbers. 400 square feet added to a 1,248 square foot unit for walls?

 

[Pamela Crowley (Florida)]

Typically, the condo developer includes a portion of halls and all porches for that particular unit.

You do what you are supposed to do and use the INTERIOR measurements if that's the type of condo you are dealing with. When I know I'm dealing with the same model as my subject and it's different in actual GLA than the condo records for that model, I put in what the records shows as the SF for that comp but no adjustment. For different models I use what I can figure out and do a GLA adjustment based of what I believe the more correct GLA would be.

You're right, they are wrong. You are using the GLA, they are using the GBA.



(FYI: Posting in all caps on the internet is considered shouting. Also, against this Forum's rules.)

 

[TC]

400 sf is a pretty serious amount. If I were the purchaser I would want to know the correct amount as condo fees are based on percent of ownership.

Stick to your :gunfire:

AND KILL THE CAPS!


TC

 

[Surf Cat]

I don't know where you are but the plat maps here in CA give dims of the units sometimes. Check that out, and for condos/townhomes invest in a Disto, so much easier.

 

[Otis Key]

Condo measurements, as stated by others, are typically based on interior wall measurements, as you own "air space" and an undivided interest or a specifc amount, in the common areas. Like TC said, the buyers might want to verify the HOA due to it typically being based upon the size of the unit.

 

[Chris Colston]

Sounds like the authorities are including "common area" such as porches or balconies. 400 SF sounds like a balcony to me.

 

[TC]

That's one heckuva balcony!!!


TC

 

[Pamela Crowley (Florida)]

I've seen them include things such as

balconies
part of the common hallways
storage bins
carports

The condo form asks for GLA - Gross LIVING Area

Some condos count some/all of what I listed above. If anything else is including that is not the interior heated/cooled LIVING area, then the SF they are using is the GBA - Gross BUILDING area. Fun little 'trick' they use to fool the buyers/owners that don't know any better. Do not let it fool the appraiser.

 

[Otis Key]

True Pam - what also needs to be remembered is to address the difference in sizes of the comps that are the same plan. A clear explanation that the sales are the same plan, but the SF includes that stuff and therefore no adjustment is considered as applicable.