Obligations & Square Footage

[Blue1]

Richard,

In my area some Realtors list manufactured homes as site built. Now, our MLS has 2 separate categories for site built and manufactured. This, to me, is blatant misrepresentation.

 

[DianaOKC]

I've had two occasions this year where the sf I came up with was 200 or so less than the county records. I called local county assessor office to see if they would verify and adjust records accordingly and take off the taxes and they had no problem with this. Both counties remeasured and called me back to let me know I had measured right! Now granted these were small counties and are known for good service but it sure shocked me. They had gone out within just two weeks of my call. I have been asked by homeowner's before to call and let them know what sf I came up with and obliged as I considered this a separate request by homeowner and just did not charge for it. (also stated to them that sf I came up with was just my personal estimate and told them how to go about doing this for themselves to see what they came up with.)

 

[Jo Ann Meyer Stratton]

Since I work in two very small counties, if I become aware of a home or other building removed or worthless or much smaller than the county assessor's records--I tell the assessor. I don't tell them if my subject is actually larger than their records. But they do find out about new construction when I come in the office looking for info and can't find it. Then they go hunting for building permits or put that APN on the list to check the next time they are in the area. Sometimes they were meaning to check the new construction in a week or two but because I was asking questions do the next day or two. Also since I compare every realtor listing and for sale by owner ad to county records, I do ask questions before a property sells and it does cause a field check by the assessor's records. Because it is such a small county I am in their office some times several times in one day and always several times in one week. Therefore I have to stay in good graces with the county officials. Beside I am a tax payer in this county too---and there fore I want every property owner paying their fair share of the tax base, so I don't have to pay it.

 

[Lee SW IL]

I addressed the GLA problem at a NAIFA meeting, I was strongly adivsed if I disclosed the proper GLA to anyone other than the client, I am disclosing confidential information. Which of course is a USPAP violation.

So I no longer advise anyone about difference with the home. But, I may leave a hint with those that need to know.

 

[Richard Carlsen]

My obligation is to report what I find to my client. If the Sq. Footage is different than that on the listing sheet, I note that in the report. If the client is doing his job, the buyer will get a copy of the report. If the Sq. footage is way off, I really make a point of it a couple of times in the report and recommend to the client that he so inform the buyer as this may effect the buying decision and therefore the loan.

However, I also report the inaccurate info to the MLS (of which I am a director) and the broker has the option to correct the info.

I don’t fool around trying to find the assessor. Most of ours are part timers. I’m still waiting for a return call from one from a message I placed on his answering machine on November 12, 2001.

 

[Jo Ann Meyer Stratton]

I don't disclose the actual square footage to the assessor but I might comment to them that their square footage is reported as 1,800 square feet but the garage has not been enclosed into livable area and the actual heated/cooled, finished livable area is less than the 1,800 square feet. The assessor's office gets a permit for a garage enclosure for example, drive by, see an exterior wall instead of a garage door and add that area to the livable area. But they don't see the interior and maybe all the property owner did was take the door down and put up some exterior siding without every doing anything to the interior. If that property is one I am completing an appraisal report on, I report what I have seen and what the property taxes are based on in the appraisal report. I will also tell the property owner to go check out the information in the assessor's office because it appears that they are being taxed on too much livable area. Some times I will get back to the assessor's office and sometimes I won't, but the property owner does get a notice from me that they do need to check into their assessment. But I do not disclose any additional livable area to the assessor as that would raise their taxes (although I am muttering to myself as a tax payer, I am having to pay that person's taxes because the assessment records are not correct). The assessor's offices here are full time, open from 8AM to 5PM and are the main source of info for any property in the county (gossip too, which they have to know to keep the ownership records straight). Since the majority of sales are for sale by owner, they usually know who is related to who, why the person sold, why the person bought, who is the second cousin or neighbor or person to contact that would know about the sale terms and condition of the property, etc, etc, etc. Since they can provide me with so much valuable information, I try to provide what I can without violating any confidentiality. Besides if someone sees my car parked in front of a house, the entire county knows five minutes after I ring the doorbell, who is refinancing or selling! There aren't any secrets in a small town!!

 

[jtrotta]

Realtors in our area work off a variety of info; many other items of question may arise and so there were meetings & more meetings and eventually came up with;

"The information contained herein is Deemed reliable, but not guaranteed"

and is carried on every MLS listing across the State - under USPAP - our obligation is to the "Client"; if there is any breach, hints or otherwise, you have violated the confidentiality issue-period. Either you are or you are not abiding by the guidelines.

There are many variations on determining GLA; and the very first thing that needs to be done, is to check the measuring device that you rely upon - determine that you know it is for a fact "accurate" and then measure the second level, exactly the same way you did the first floor. When you get all the way down to the scientific facts about the subject property; you then need to contact every owner of the comps. (you selected) and get permission to go onto their property and measure them the exact same way you measured the subject, so that all your scientific data is matched (paired analysis) and then you can sit down and do your report factually. Once you've completed that, you can feel confident that when you send the Bill for $300 you'll know you've earned it - Right

8)

 

[Blue1]

Not right. No one I know measures every comparable. It is industry standard to use "relibale" data mainly from MLS and Assessor data. If I had to measure every comparable I'd charge a whole lot more than your (suggested) $300. My measuring tape is accurate it even says "superior accuracy" right on the label!!!

You wanna get technical? O.K.......there is no absolute accurate measuring device on the face of the earth! That's right....cold, heat, air pressure, etc. all combine to vary any measuring device at any specific time. It's all relative dude!!! :lol: However, we CAN say that our comparables are "reliable" 'cause we assume Realtors are trying to be accurate........Unfortunately, some Realtors don't even TRY anymore........Yet, they are liable for information on the MLS so..........it's on THEM......right?