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#152374 - 07/02/07 07:05 PM
Square Footage...and "CASH"
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Mod Squad
Major Contributor
Registered: 11/27/06
Posts: 7685
Loc: PA
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Okay, I have a question.
I do realize that ONE way of calculating the square footage of a house is to measure the outside dimensions.
Our MLS asks for several S.F. numbers:
#1. Total Square foot #2. Sq. foot above (and below) grade #3 Total Square Foot finished.
In my not always so humble opinion, I assumed that "square foot finished" meant usable living space. Total square feet could be all the space - including an unfinished basement.
Agents in my MLS tend to be less than consistent with this. This issue came up for me today with a house my buyers are interested in. The TOTAL square footage says 700 s.f., and the FINISHED says 700 s.f., but the actual rooms total up to about 400 s.f. of finished living space, including the closets (no hallways, it's a tiny little cottage, obviously)
I called the agent to ask him about this - I wanted to be sure we weren't missing anything like a finished attic or something and he barked at me, like I was an idiot, that it's the outside dimensions of the house, that's how you take square footage, blah blah blah. I remarked that certainly that would work for TOTAL square feet, but sq. ft FINISHED implies usuable living space. He then said, rudely, (like, DUH), "Well, the house is FINISHED, isn't it? That's what it means! The SIZE of the HOUSE!"
(Before I go any further, this man has been a REALTOR probably longer than I've been alive, and that's 37.63 years).
Then I noted that he has CASH marked for financing, no comments about mortgages. (You will see "Cash, Conventional" on most MLS listings, indicating that sure, you can get a mortgage for it...)
My buyers were concerned that this is a CASH ONLY deal - meaning Cash on Hand...since only CASH was marked, not CASH, CONVENTIONAL. We have some of that (Cash only) with houses on leased land, and since this property is on common ground and has some unique challenges to it, it was a fair question. He then exploded "What are you a new agent or something?"
"Cash means MONEY, and I don't care WHERE you get from, just so you bring it to the table! God!"
This is the first time I ever even talked to this jerk. I then blew my top and said "Now you listen to me, let's get something straight. I am calling YOU on behalf of MY clients who HAVE LEGITIMATE questions about YOUR LISTING that is probably the most unique one in the MLS at the time. I would APPRECIATE you treating me with RESPECT as a PROFESSIONAL, and giving me the COURTESY of ANSWERING MY QUESTIONS RESPECTFULLY!"
He then laughed and said, basically, that my questions were so silly that he knows I'm a new agent.
So tell me...does this sound SO SILLY? And I don't mind telling people I'm a new agent - I've had that question asked before and usually with respect, and I answer truthfully and with like respect.
Today was the wrong day to bark at me, and so, I barked back!
Edited by Perky_REALTOR (07/02/07 07:10 PM)
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#152421 - 07/02/07 10:30 PM
Re: Square Footage...and "CASH"
[Re: Perky_REALTOR]
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Member
Registered: 03/08/07
Posts: 320
Loc: Indiana
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Good for you. I bet you if you measure the outside it is not 700 sq. feet. If he only checked Cash, then that would mean he was only looking for cash offers. He should have checked conventional mortgage, insured conventional mortgage, VA, and FHA. Also by NOT checking conditional sales contract or assumption of existing mortgage balance tells me that his seller would not sell under those terms. If I was a betting man, I would say he did not input the listing info in the mls and probably does not know how to. He simply does not know the process or is computer illiterate. You might be new, but you know your way around the computer. He is old and needs to consider retiring. 
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#152426 - 07/02/07 10:52 PM
Re: Square Footage...and "CASH"
[Re: Cool Cat]
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Veteran Member
Registered: 06/14/06
Posts: 607
Loc: Atlanta GA
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We are not even allowed to mention square footage in our area, but I took the appraisers course and they define finished sq' as the measuring around the outside of the walls of the finished heated space. So the thickness of the walls counts. But there is no way a house would measure 700 feet around the outside and 400 feet on the inside.
Aside from that, the guy is a rude jerk. Around here "cash" means the house is in such lousy condition it would not pass an appraisal for traditional financing.
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#152433 - 07/02/07 11:09 PM
Re: Square Footage...and "CASH"
[Re: deepsea]
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Mod Squad
Major Contributor
Registered: 11/27/06
Posts: 7685
Loc: PA
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Around here "cash" means the house is in such lousy condition it would not pass an appraisal for traditional financing. This is what my buyers are concerned about. A visual inspection of the property shows nothing amiss - it is a nice little cottage and I think it's a great little deal, quirks aside. Thanks, Cool Cat and deepsea - I know I'm a little green - but it's totally uncalled for to take my head off over a simple question. I know one thing - never assume anything. If there is doubt, ASK. Cool Cat, you may be right, he may not have entered it in the MLS. However, I have seen multiple listings entered on the MLS that look like they were entered by someone lacking the education of my 11 year old. It's amazing what "professionals" put out there for the world to see. My favorite one of the week is the "walkin" closet.  When I'm bored and have nothing else to do, I troll the MLS looking at the listings and crazy pictures. I saw one picture with the caption "Quite Living" (as opposed to...quite dead...?) But yeah, we is edjumacated perfessionals.
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