Jackson, WY · Member since 2016 · 88 posts · 9 votes
We have a property under contract and just got word today that we can close this Monday. If we don't close Monday, we'll have to pay for an extension for a rate lock.
An issue has arisen with the sq. ft.- the realtor (who represents both buyer and seller here), listed the home at over 15% above the actual square footage. She took the sellers word on the size- they said it's what the house's size was reported at during the last appraisal, though she never confirmed it by viewing the appraisal.
We want to address the large disparity in sq. ft. prior to closing, but our realtor has indicated she's out of town until Saturday. We told her via text we needed to speak today, but she is unresponsive... Should the realtor have given us a head's up she would be out of town? Any suggestion as to how to move forward? Thanks!
Rental Property Investor · Oconomowoc, WI · Member since 2016 · 996 posts · 431 votes
8y
If the realtor works for an office you should be able to talk to the broker or supervising broker, sales director (supervisors of real estate agents come in many forms).
She didn't necessarily do anything wrong in re: to the sq ft. In Wisconsin it is the buyer's responsibility to verify any crucial measurements the agent is not responsible for the accuracy of info provided by the seller.
Most realtors would give clients a heads up they will be out of town AND also give you a contact in the mean time.
Rental Property Investor · Oconomowoc, WI · Member since 2016 · 996 posts · 431 votes
8y
If the realtor works for an office you should be able to talk to the broker or supervising broker, sales director (supervisors of real estate agents come in many forms).
She didn't necessarily do anything wrong in re: to the sq ft. In Wisconsin it is the buyer's responsibility to verify any crucial measurements the agent is not responsible for the accuracy of info provided by the seller.
Most realtors would give clients a heads up they will be out of town AND also give you a contact in the mean time.
We have a property under contract and just got word today that we can close this Monday. If we don't close Monday, we'll have to pay for an extension for a rate lock.
An issue has arisen with the sq. ft.- the realtor (who represents both buyer and seller here), listed the home at over 15% above the actual square footage. She took the sellers word on the size- they said it's what the house's size was reported at during the last appraisal, though she never confirmed it by viewing the appraisal.
We want to address the large disparity in sq. ft. prior to closing, but our realtor has indicated she's out of town until Saturday. We told her via text we needed to speak today, but she is unresponsive... Should the realtor have given us a head's up she would be out of town? Any suggestion as to how to move forward? Thanks!
Your comment: "the realtor (who represents both buyer and seller here)" Here is a perfect example of why not to allow the agent to represent both sides. Would you allow the IRS to represent you in a tax case? Obviously not a good idea. Normally, the other agent would be taking care of things like this and is another set of eyes on the agreement and details.
Contact the agent's broker and ask for their help.
Rental Property Investor · West Bend, WI · Member since 2015 · 931 posts · 598 votes
8y
when is the contract closing date? sounds like you are trying to close early due to the rate lock. would the 15% discrepency prevent you from closing? how did you discover the discrepecy ? did the property appraise at or above your contract price? Does the MLS listing note the source of the stated square footage? ofthen there is language in the listing someplace to verify the information provided.