Calculating Square Footage
I know this sounds like a stupid question, but here goes. When calculating square footage on a 1 story house, is it simply length X width of the house itself, or is it the sum of the areas of all of the rooms? Realtor says house is 738 square feet, Lender says house must be 750 square feet to comply, so I'm trying to find 12 more square feet!
Thanks,
Brad
What do the tax assessor's records say about amount of square footage?
Tax assessment says 738. I wasn't sure if I should trust that. Thoughts?
Find out from the lender what the lender's definition or criterion is. Square footage can be calculated any number of ways -- exterior, interior, interior net of closet/storage, grade level only, etc.
A single story residence is rather easy to measure. It's the goss living area measured from the exterior. It does not include the garage(s) or porches., or any other insets. It the house was a rectangle it would be the length x width less the area of the attached garage if one should happen to be attached. The assessors property card is generally correct, but not always.
I once measured a house which appeared larger than the assessor's records. They had not included a room addition of 400 s.f.which had been in existance for over twelve years and 4-5 reassessments. .
When I was young and in my prime,
I used to measure houses all the time.
But now that I am old and gray,
I only do it two times a day.
The secret of increasing the square footage of houses being measured by an appraiser.
You offer to help and when you grab the tape you pull it and then instead of grabing the end of the tape you grab about 12 inches more and hide the surplus in your hand. Thus from point to point you will have added at least one foot on all measurements. This is how I qualified my first little house for a loan. Pontius Pilate was very upset, kept yelling for Barabas
Sneaky Lucius (ex Centurian 10th Leg.)
<IMG SRC="images/forum/smilies/icon_cool.gif"> <IMG SRC="images/forum/smilies/icon_cool.gif"> [ Edited by Lufos on Date 02/26/2004 ]
LOL, Did you get the loan aproved ?
[quote]
On 2004-02-26 22:33, Lufos wrote:
Lufos,
Have you written, or will you write your memoirs someday? Thanks for the laugh.
Lucius,Good suggestion. I modified a tape by cutting 2 feet off and reattaching the tip. <IMG SRC="images/forum/smilies/icon_lol.gif"> <IMG SRC="images/forum/smilies/icon_cool.gif"> <IMG SRC="images/forum/smilies/icon_rolleyes.gif"> <IMG SRC="images/forum/smilies/icon_wink.gif"> [ Edited by MichaelChandler on Date 02/27/2004 ]
Don't want to be the cold water guy but should a federally guaranteed loan or lender lose on a fraudulently (lied) made loan, the liar (you with the cut tape/fudged foot) do risk loss of pursuit of life and liberty (jail time). Find a new lender. It seems that "red lining" small houses might be a federal offense. In some areas, adding the porch, the garage, the basement, etc. is common and raises the square footage.
My old partner used to tell me the trouble with lying is you have to remember who you told what and when. Straight up is easier and less stressful. Build a solid and honest relationship with the lender and you might just do better.