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Daily Real Estate News  |  November 21, 2008  |   Court Ruling: Square Footage Must Be Accurate
A Texas appeals court has upheld the principle that size matters in a case in which the square footage of a home sold in the central part of the state wasn’t what was advertised.

The buyers, who sued and won against the real estate professionals who handled the sale, told the court that they bought the property largely because they thought they were paying a lower rate per square foot than other sellers in the area were asking.

The house turned out to be 253 square feet smaller than the practitioner put on the information sheet and on the multiple listing service posting.

A 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 into the home 30 days prior to settlement and the information came from tax records filed with the local municipality.

The appeals court said the real estate professionals had a duty to get the information right and the buyers shouldn’t have to pull out a tape measure.

Source: United Features Syndicate, Lew Sichelman (11/21/2008)

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