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A Texas court recently upheld the principle that "size matters" during a case in which the square footage of a sold home wasn't what it advertised. The buyers sued and won. The house turned out to be 253 square feet smaller than the listing agent advertised and posted in MLS. The jury awarded the purchasers damages and held the real estate professionals liable for misrepresentation and fraud. The court of appeals in Austin upheld the decision, even though the couple had moved in the home 30 days prior to settlement. The square footage information came from public tax records. The court said the real estabe professionals had a duty to get the information right and the "buyer shouldn't have to pull out a tape measure."
Institute of Housing Technologies
26 Pinecrest Plaza #165
Southern Pines, NC 28387
910-949-5594 Office
910-949-2196 Fax
sizematters@charter.net
InstituteofHousingTechnologies@gmail.com
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Publications | Continuing Education Courses
Home Measurement Basics - Online Course - Appraiser's Edition ($49.00) www.OnlineEd.com
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The ultimate square footage resource. Home measurements from A to Z and everything in between. The most detailed course on measuring residential square footage available anywhere. One of a kind course just released for the residential appraiser. Trainee to seasoned veteran, you will learn something new about measuring square footage and how to protect yourself from liability. Stairs and upper level living spaces, sloped ceilings, exterior dimension from interior measurements, GLA vs. GBA, finished vs. unfinished, lower level living spaces; and a whole lot more. Also reveals the secrets of MLS, AVM’s, public records and the “information crisis.” Examine the importance of using a written “standard of practice” (ANSI), and providing a written “statement of square footage” disclosure in every assignment. |
Home Measurement Basics - Online Course - Realtor's Edition ($49.00)
www.OnlineEd.com
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The ultimate square footage resource. Home measurements from A to Z and everything in between. The most detailed course on measuring residential square footage available anywhere. One of a kind course, just released. Designed specifically for professional agents and brokers. Pre-licensing, newly licensed, or experienced broker, you will learn something new about measuring square footage. Satisfaction guaranteed. Stairs and upper level living spaces, sloped ceilings, exterior dimension from interior measurements, GLA vs. GBA, finished vs. unfinished, lower level living spaces; and a whole lot more. Also examines the power of MLS, the danger of AVM's, and the information crisis in the public records system (which were never designed or intended to be used by the real estate industry). You'll also explore the future of the MLS, which provides floor plans and square footage details with every listing; without liability. Stay tuned... |
Inside the New Appraisal Process - Online Course for Realtors® ($89.00)
www.OnlineEd.com
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Discover all about the new appraisal process and get the inside scoop on today’s appraisers, working through the tightest underwriting guidelines in history. Explore how you can help get more loans approved and keep your clients. It’s your time; get PAID.
Knowledge of the appraisal process is crucial in today’s marketplace, where agents must now help their clients get their loans approved. A little more knowledge will take you from contract to closing with less hassles along the way. The agents who know how to “act” and not “react” to the news of a low appraisal will keep more sales moving forward and make more money. You WILL learn something new. 100% money-back guarantee. Review the power of MLS, the dangers of AVM's and tax records, and explore the direct path to the appraisal Power Line. Better understand the new appraisal process. It's still true: learn more, earn more. |
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