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Article: Listing square footage of house tends to cause problems.
- Article from:
- Knight Ridder/Tribune News Service
- Article date:
- November 19, 1998
- Author:
CopyrightCOPYRIGHT 1998 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In 30 years of practice, I have rarely seen a buyer purchase a home by the square foot. One Los Angeles stockbroker recently did just that, and now he and everyone else involved are in a lawsuit.
People buy commercial property by the square foot _ offices, warehouses, etc. But homes have a different appeal. While square footage matters, and certainly larger homes usually cost more, it is not just the size of the property but how the house is laid out and how the square footage is utilized that really matters.
You would think that a buyer who buys solely by the square foot and then tries to get out of the deal would lose. Think again.
The buyer ...