Do I need to offer a square footage Notice to the buyer?

If the buyer can read, probably not. But, for some who really do not understand the market and how homes are priced, it is a good idea to present the following facts and have the buyer sign a notice of the facts.

The square footage of a house may be an important factor to a buyer in deciding on a purchase price. As a result, the buyer should consider several factors regarding square footage issue.

First, the buyers offer is a dollar based offer, it is not based on the square footage of the house. Remember the contract does not have a provision that the property is being sold or bought on a per square foot basis.

Second, the square footage in the MLS is only a statement by a source, such as a tax role, of that sources belief in the square feet measurement.

Third, the Seller is not warranting the square feet of the property, but is stating what a certain date source (tax roll, builder, appraiser, etc.) says they think it is.

Forth, appraisers can have a disparity in square feet measurement especially for a house with a complex design features.

And last. The price the buyer offers is based on many factors that square footage price may not take into consideration such as location, market demand for that area, condition and drive up appeal.

I have had buyers who wanted to work and rework over the per square footage price of a house to try to arrive at the price that made mathematical sense.

A purchase of a house is often based on emotion and feels the buyer has for the house, the neighborhood and the school system. If the area is HOT and the homes that are listed have sold for a short number of days on the market and at or above 100% of list price, square footage is meaningless. The buyer, if they want the house, is going to have to pay the sellers asking price. If they do not, then the buyer who does recognize they will have to pay the asking price will win the negotiation. Our exceptional real estate guru, Bob Baker in Plano came up with this notice and can be an important part of your buyer package.