Sq footage off by 550
I am under contract on a home and there is a 550 sq footage discrepancy. They counted an unfinished attic into the square footage.
I would like some advice on how to proceed.
It would change the square footage from 1800 to 1250.
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If the square footage discrepancy can be validated this constitutes either a willful or negligent misrepresentation of material fact. This is legal grounds to cancel the contract. (Tax records are not support for the actual square footage, a licensed appraiser is.) There should be a due diligence period in the contract and these are the types of things you want to find. I would definitely go back to the seller and let them know you want to either revise or cancel your offer based on this finding.